IOT Platform Market Size | Digitization among Industries Worth to be US $1799 million | Emerging Audience and Opportunities by Forecast to 2023

Thu Apr 12, 2018 - 1:30pm UTC

IOT Platform Market, by Deployment (On Cloud, On Premise, Hybrid), by Application (Device Management, Database Management, Processing, Analytics), By End Users (Manufacturing, BFSI, Smart Cities & Homes, Telecommunication, IT) – Forecast 2016-2022

Pune, India – April 12, 2018

IOT Platform Market- Overview:

IOT platforms have spread rapidly in recent times due the dire need for new innovations in the market. Market Research Future which focuses on market reports associated to information and communication sector amongst others of late has made available a report on this sector. The industry is expected to develop phenomenally at a CAGR of 33 per cent and is expected increase to the market size of US $1799 million by the end of forecast period.

IoT platform enable enterprises by helping them create and manage applications, configure analytics, data aggressive and storage and connectivity management. Which led to major adoption of IoT technology among small and large enterprises? IoT platform integrates various technologies such as data communication, hardware design and data storage. Global market of IOT has generated a huge amount of revenue for the companies which are operating in this segment and every service or system which is being connected with IOT needs to have a stable and secure platform. IOT Platform eases enterprises work by connecting them with the source of knowledge without any difficulty..

Major Key Players

PTC (U.S.), Amazon (U.S.), Microsoft (U.S.), Google (U.S.), Davra Networks (Ireland), Cisco Systems, Inc. (U.S.), SAP SE (Germany), General Electric (U.S.), AT&T (U.S.), Huawei Technologies Co. Ltd. (U.S.), IBM (U.S.), and Wipro (U.S.) are some of the prominent players at the forefront of competition in the Global IoT Platform Market and are profiled in MRFR Analysis.

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Industry Segments

The IOT platform industry worldwide has been categorized on the basis of deployment, platform, end users and application. The IOT platform segment has been defined into infrastructure as a service and software platform and connectivity. The deployment category contains on premise, on cloud and hybrid while the application category has been categorized into database management, device management, processing and analytics among others. The end users have been segmented into BFSI, manufacturing, smart cities & homes, it and telecommunication among others.

This IOT Platform Market is expected to grow at CAGR of ~33% and will rise to the market size of US ~$1799 million by the end of forecast period.

IoT Platform Global Market – Competitive Analysis

The Market of IoT Platform appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.

Industry News

Mar 2018 Fleet Space Technologies, an Adelaide-based startup is preparing a network of 100 nano satellites which will be used for IoT applications which has entered into a partnership with an Australian IoT platform developer called Reekoh to incorporate the data which is collected via its satellites into Reekoh’s IoT platform.

Feb 2018 Cisco has recently introduced its Narrow Band IoT (NB-IoT) platform around the world. The networking giant asserts that Control Center for NB-IoT is the first such commercially accessible global platform.

Detailed Regional Analysis

For the purpose of considering the regional analysis, the North American region is directing the industry for IOT Platform owing to the existence of the global companies in this region as well as the accelerated pace of technological advancement. The North American market is expected to manoeuvre the market through the forecast period while the Asia-Pacific region has risen the as fastest rising market and is projected to be the second major sector by the end of forecast period. Presently, the European market holds the second position in the industry but is anticipated to be overtaken by the Asia-Pacific market by the end of forecast period.

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Intended Audience:
• Software Companies
• Data Storage Companies
• Data Storage Service Providers
• Cloud Service Providers
• Cloud Service Management Services
• Software Companies

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Info:
Name: Abhishek sawant
Organization: Market Research Future

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