Sep 13, 2019 (Reporthive Research via COMTEX) -- The global IoT Cloud Platforms market is valued at 1570 million USD in 2017 and is expected to reach 7480 million USD by the end of 2023, growing at a CAGR of 29.7% between 2017 and 2023.
The IoT Cloud Platforms Market research report peaks the detailed analysis of industry share, growth factors, development trends, size, majors manufacturers and 2024 forecast. The report also analyze innovative business strategies, value added factors and business opportunities. The IoT Cloud Platforms Market report introduces market competition situation among the vendors and company profile, revenue, product & services, latest developments and business strategies.
An IoT platform means cloud-based and on premise software packages and related services that enable and support sophisticated IoT services. Speak specifically, An IoT platform combines several software functions into one solution to enable companies to develop and deploy Internet of Things solutions faster, better and cheaper.
This report studies the IoT Cloud Platforms market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the IoT Cloud Platforms market by product type and applications/end industries.
The major forces driving the IoT market are development of cheaper and smarter sensors, evolution of high speed networking technologies, and rising adoption of cloud platforms across industry verticals. Furthermore, increasing penetration of connected devices has unleashed the growth potential through predictive maintenance, security, and analytics which is expected to drive the market during the forecast period.
The decrease in the cost per CPU memory and storage makes the collection of big data and subsequent analytics possible. Devices such as sensors have proliferated, without which IoT opportunities cannot be realized. The decreasing cost of megabytes increases the amount of money available for investment in large processing systems. Cloud and big data offer elastic repositories for storing and analyzing the onslaught of data. The convergence of information technology and operational technology are coming together to create a new revolution.The Internet world is colliding with the industrial world to create unprecedented opportunities.
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Key players covered in this report:
Oracle Integrated Cloud
General Electric (Predix)