Global IoT Platform Market– Industry Trends and Forecast to 2025
Market Definition: Global IoT Platform Market
The Internet of Things (IoT) Platform is a medium between the applications and services which are connected with the real world. The rapid expansion of internet and fast connectivity speed has driven the global IoT platform market. It helps in monitoring, evaluating and controlling the main network connectivity. IoT integrates technologies such as data communication, data storage, hardware design and mining that help organization in decision-making power with high convenience, improved handling of emergencies, cost benefits, remote access and improvements in safety & security. The IoT platforms provide middleware to connect, manage devices and integrate collected data into various applications and services. Google acquired Xively Internet of Things (IoT) platform of LogMeIn, Inc. which aimed at provides Google Cloud with established IoT platform. This strategy has boosted Google’s cloud business in IoT.
Market Analysis: Global IoT Platform Market
The Global IoT Platform Market was valued at USD 1,640.4 million in 2017 and is expected to reach USD 6,010.0 million in 2025, growing at a healthy CAGR of 27.6% for the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025
Segmentation: Global IoT Platform Market
By Deployment
- Public
- Private
- Hybrid
By Platform
- Device Management
- Connectivity Management
- Application Enablement
Key Market Competitors: Global IoT Platform Market
The key players operating in the global IoT platform market are –
- IBM Corporation
- Microsoft Corporation
- Amazon Web Service
- com, Inc.
- Samsung
- Sap SE
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