Internet of Things (IoT) Cloud Platform Market Size, Share & Forecast To 2025
Posted by rishabh3210 on June 17th, 2020
Internet of Things (IoT) cloud platform market is anticipated to exhibit a considerable growth during the forecast period. An IoT platform is a multi-layer cloud technology that facilitates automation, straightforward provisioning, and management of connected devices within the universe of IoT. The primary function of the IoT cloud platform is to grasp a significant volume of data from applications, customers,devices, and websites and refine such data for generating real-time responses. With the growing digitalization across the globe, rising adoption of connected and intelligent devices is a major factor fueling the growth of the global IoT cloud platform market.
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IoT devices are the devicesthat consist of multiple sensors that are connected to the cloud mainly through several gateways. The sensors enable the devices to generate information about a physical event or state by measuring most ofthe things in their surroundings including temperature, sound, light, motion, orientation, humidity, pressure, and heat rates among others.Advancement in sensor technology has made them appropriate for their application in healthcare, automobile, telecommunication, and retail among others. The growing trend to use smart wearable for regulating the health of individuals is anticipated to make a significant contribution to the growth of the global IoT cloud platform market.
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Apart fromsmart wearables in healthcare sector, sensors are rapidly adopted in the automotive sector. The technically advanced cars are seen with various inbuilt sensors. Increasing deployment of advanced driver-assistance systems (ADAS) and infotainment systems in the vehicle is contributing to the high adoption of sensor technology in vehicles. The retail sector is using sensors to gather data related to customer’s regarding total time spent in the store and the staying time at particular product aisles. With the several benefits that sensors offer, they are highly utilized across the various industrial sectors thereby, driving the growth of the global IoT cloud platform.
In February 2018, Northwestern University engineers and the Shirley Ryan AbilityLab, a research hospital in Chicago had developed a connected ECG sensor patch that facilitates clinicians to monitor stroke patients in a better manner.This would enable IoT platform deployment in healthcare, thereby augmenting the market growth.
Internet of Things (IoT) Cloud Platform Market Segmentation
By Deployment Model
Internet of Things (IoT) Cloud Platform Market – Segment by Region
Rest of the World
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