Dublin, May 11, 2020 (GLOBE NEWSWIRE) -- The "IoT Cloud Platform Market by Offering (Platform and Service), Deployment Mode (Public Cloud, Private Cloud, and Hybrid), Organization Size, Application Area (Building & Home Automation and Connected Healthcare), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The author forecasts the global Internet of Things (IoT) cloud platform market size to grow from USD 6.4 billion in 2020 to USD 11.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.6% during the forecast period.
Major factors expected to drive the growth of the IoT cloud platform market include proliferation of IoT devices, need to increase operational efficiency, rapidly decreasing costs of IoT-based sensors connectivity hardware and the emergence of Internet Protocol version 6 (IPv6). However, the lack of a technically skilled workforce and complexities in the management of unstructured data are factors that hinder the growth of the IoT cloud platform market.
Based on platform, the application enablement segment to grow at the highest rate during the forecast period
Based on platform, the IoT cloud platform market is segmented into device management, connectivity management, and application enablement. The application enablement segment is estimated to grow at the highest CAGR during the forecast period. Application enablement platform enables users to easily implement IoT applications and services without exposing the network connectivity to any threats. It allows companies to gain value from IoT investments in less time because the platform eliminate technological hurdles. The demand to reduce the cost and complexity that developers and end users might suffer when developing applications for IoT-enabled devices with cloud-based data storage is the major factor driving the growth of the application enablement segment of the market.
Based on deployment mode, the public cloud segment to hold the largest market size during the forecast period
Based on deployment mode, the IoT cloud platform market is divided into the public cloud, private cloud, and hybrid. The public cloud segment is estimated to lead the market during the forecast period. The growing demand for investing in public cloud across various developed economies, such as the US, China, the UK, Australia, and Canada is anticipated to drive the demand for public cloud deployment mode in the IoT cloud platform the market. North America is the largest investor of public cloud services allowing organizations to adopt the public cloud deployment mode in the North American companies.
Based on application area, the building and home automation segment to lead the market during the forecast period
Based on application area, the IoT market is segmented into building and home automation, smart transportation, connected healthcare, smart manufacturing, smart retail, smart grid and utilities, and others (including smart education, smart agriculture, and security and emergency). Among these application areas, the building and home automation segment is estimated to lead the market during the forecast period. Advancements in wireless communication technologies and increasing efforts by manufacturers, facility managers, and governments to make customers aware of the long-term benefits of installing a building and home automation system are factors driving the adoption of IoT cloud platform for this segment. The rising number of smart city projects propel the adoption of IoT cloud platform in the building and home automation area.
Among regions, Asia Pacific to grow at the highest CAGR during the forecast period
The Asia Pacific (APAC) IoT cloud platform market is expected to record the highest growth rate during the forecast period, owing to the significant adoption of advanced technologies, proliferation of IoT-enabled devices, continuously enhancing network connectivity, and government initiatives for IoT. APAC is taking aggressive initiatives to leverage the Information Technology (IT) infrastructure, enabling commercial users to adopt IoT cloud platform. The presence of IoT vendors such as Shenzhen, Samsung, and Hitachi, in APAC is one of the factors driving the growth of IoT cloud platform in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 North America IoT Cloud Platform Market, by Offering and Country
4.3 IoT Cloud Platform Market: Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Proliferation of IoT Devices
5.2.1.2 Shift from On-Premises to Cloud-Based Data Management Strategy
5.2.1.3 Need to Increase Operational Efficiency
5.2.1.4 Government Initiatives in R&D Activities Related to IoT
5.2.1.5 Emergence of Ipv6
5.2.1.6 Rapidly Decreasing Costs of IoT-Based Sensors and Connectivity Hardware
5.2.2 Restraints
5.2.2.1 Absence of Standardization in IoT Protocols
5.2.2.2 Lack of Technically Skilled Workforce
5.2.2.3 Complexities in Managing Unstructured Data
5.2.3 Opportunities
5.2.3.1 Rising Demand for IoT-Enabled Digital Transformation of Businesses
5.2.3.2 Increasing Demand for System Integrators
5.2.4 Challenges
5.2.4.1 Issues Related to Data Security and Privacy
5.2.4.2 Interoperability Issues of Legacy Infrastructure and Communication Networks
5.3 Industry Trends
5.3.1 Value Chain Analysis
5.3.2 Impact of Disruptive Technologies
5.3.2.1 Edge Computing
5.3.2.2 5G
5.3.2.3 Digital Twin
5.3.2.4 MQTT Protocol
5.3.3 Industry Use Cases
5.3.3.1 Use Case 1: Consumer Electronics and Home Appliances
5.3.3.2 Use Case 2: Retail
5.3.3.3 Use Case 3: Smart City
5.3.3.4 Use Case 4: Agriculture
5.3.3.5 Use Case 5: Healthcare
6 Impact of Covid-19 on the IoT Cloud Platform Market
6.1 Market Dynamics During the Covid-19 Outbreak
6.1.1 Drivers
6.1.1.1 Growth in the Adoption of Work-From-Home Policy
6.1.1.2 Increasing Adoption of Wearables
6.1.2 Opportunities
6.1.2.1 Rising Demand for Telemedicine
6.1.2.2 Drones for Enforcement of Compliance
6.1.3 Challenges
6.1.3.1 Huge Decline in the Operations and Manufacturing
6.1.3.2 Disruption in Logistics and Supply Chain
6.2 Industry-Wise Use Cases: Covid-19 Impact
6.2.1 Healthcare
6.2.2 Manufacturing
6.2.3 Transportation
6.2.4 Retail
6.2.5 Utilities
6.2.6 Government and Defense
6.2.7 Banking, Financial Services, and Insurance
6.3 Covid-19 Impact on Offerings
6.3.1 Covid-19 Impact on the Adoption of Platforms
6.3.2 Covid-19 Impact on the Adoption of Services
6.4 Covid-19 Impact on Regions
6.4.1 Covid-19 Impact on North America
6.4.2 Covid-19 Impact on Europe
6.4.3 Covid-19 Impact on Asia Pacific
6.4.4 Covid-19 Impact on Middle East and Africa
6.4.5 Covid-19 Impact on Latin America
7 IoT Cloud Platform Market, by Offering
7.1 Introduction
7.2 Platform
7.2.1 Device Management
7.2.1.1 Device Management: Market Drivers
7.2.2 Connectivity Management
7.2.2.1 Connectivity Management: Market Drivers
7.2.3 Application Enablement
7.2.3.1 Application Enablement: Market Drivers
7.3 Service
7.3.1 Professional Services
7.3.1.1 Training and Consulting
7.3.1.1.1 Training and Consulting: Market Drivers
7.3.1.2 Integration and Deployment
7.3.1.2.1 Integration and Deployment: Market Drivers
7.3.1.3 Support and Maintenance
7.3.1.3.1 Support and Maintenance: Market Drivers
7.3.2 Managed Services
7.3.2.1 Managed Services: Market Drivers
8 IoT Cloud Platform Market, by Deployment Mode
8.1 Introduction
8.2 Public Cloud
8.2.1 Public Cloud: Market Drivers
8.3 Private Cloud
8.3.1 Private Cloud: Market Drivers
8.4 Hybrid
8.4.1 Hybrid: Market Drivers
9 IoT Cloud Platform Market, by Organization Size
9.1 Introduction
9.2 Large Enterprises
9.2.1 Large Enterprises: Market Drivers
9.3 Small and Medium-Sized Enterprises
9.3.1 Small and Medium-Sized Enterprises: Market Drivers
10 IoT Cloud Platform Market, by Application Area
10.1 Introduction
10.2 Building and Home Automation
10.2.1 Building and Home Automation: Market Drivers
10.3 Smart Transportation
10.3.1 Smart Transportation: Market Drivers
10.4 Connected Healthcare
10.4.1 Connected Healthcare: Market Drivers
10.5 Smart Manufacturing
10.5.1 Smart Manufacturing: Market Drivers
10.6 Smart Retail
10.6.1 Smart Retail: Market Drivers
10.7 Smart Grid and Utilities
10.7.1 Smart Grid and Utilities: Market Drivers
10.8 Others
11 IoT Cloud Platform Market, by Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 United States: Market Drivers
11.2.2 Canada
11.2.2.1 Canada: Market Drivers
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 United Kingdom: Market Drivers
11.3.2 Germany
11.3.2.1 Germany: Market Drivers
11.3.3 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 China: Market Drivers
11.4.2 India
11.4.2.1 India: Market Drivers
11.4.3 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Saudi Arabia
11.5.1.1 Saudi Arabia: Market Drivers
11.5.2 United Arab Emirates
11.5.2.1 United Arab Emirates: Market Drivers
11.5.3 Rest of Middle East and Africa
11.6 Latin America
11.6.1 Brazil
11.6.1.1 Brazil: Market Drivers
11.6.2 Mexico
11.6.2.1 Mexico: Market Drivers
11.6.3 Rest of Latin America
12 Competitive Landscape
12.1 Competitive Leadership Mapping
12.1.1 Evaluation Criteria
12.1.2 Visionary Leaders
12.1.3 Dynamic Differentiators
12.1.4 Innovators
12.1.5 Emerging Companies
12.2 Strength of Product Portfolio (20 Players)
12.3 Business Strategy Excellence (20 Players)
12.4 Ranking of Top Market Players in the IoT Cloud Platform Market, 2020
13 Company Profiles
13.1 Introduction
13.2 AWS
13.3 Microsoft
13.4 Google
13.5 Cisco Systems
13.6 IBM
13.7 Oracle
13.8 Salesforce.Com
13.9 SAP
13.10 PTC
13.11 Samsung
13.12 Bosch.Io
13.13 Autodesk
13.14 At&T
13.15 Alibaba Cloud
13.16 Telit
13.17 Siemens
13.18 GE Digital
13.19 Ubidots
13.20 Zoho Corporation
13.21 Particle
13.22 Right-To-Win
For more information about this report visit https://www.researchandmarkets.com/r/nvcv6s
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