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Global IoT Platform market is forecasted to reach USD $3.93 Billion in 2024 at a CAGR rate of 35% with 2016 as a base year.
Global IoT Platform market
IoT Platform solutions interconnect “things” (people, objects, devices, processes, data, etc.) in the real world and the virtual world via the Internet, and make the “things” communicate and interact with each other. Meaning, it connects different devices to the cloud and the various devices relative to the Internet of Things (IoT) ecosystem facilitating communication, data flow, device management, and the functionality of applications.
Maximize Market Research has undertaken extensive research about the current Global IoT Platform Market outlook with respect to its usage in various fields as well as the assuring future of technology in those sectors. As per the study, 96% of global businesses consider IoT important to better monitor and control physical assets, efficiency being the major driving force. 30 A billion Devices are to be connected to the internet by 2020. A platform to manage such high device volumes, diversity and geographies should also have flexibility and scale. This will allow businesses to enhance IoT solutions over time without worrying about platform limitations when new devices come along.
Importantly, the report delivers forecasts of the market, giving an insight into the future opportunities that exist in the Global IoT Platform Market. The driving forces, as well as considerable restraints, have been explained in depth. Report segments Global IoT Platform Market by Hardware, Deployment, Connectivity Technology, Vertical, and Regions, providing the comprehensive analysis of ecosystem of industry, which will be useful to take the informed strategic decision to the stakeholders in the industry. Asia Pacific is expected to hold the largest market share as well as expected to grow at the highest rate with a presence of IT industries along with a surge in IT infrastructure development acting as some of the major factors to boost overall demand. Rapid digitization along with technological dependency and further advancements have acted as key drivers for the growth of the IoT market in APAC and North America.
Scope of the Report:
Global IoT Platform Market, by Hardware: Processing, Connectivity Module, Memory, Others
Global IoT Platform Market, by Deployment: On Cloud, On-Premises, Hybrid
Global IoT Platform Market, by Connectivity Technology: Cellular, Wi-Fi, Others
Global IoT Platform Market, by Vertical: Manufacturing, BFSI, Smart Cities and Homes, Telecommunications, Information Technology
Global IoT Platform Market, by Geography: North America, Europe, Asia Pacific, Middle East & Africa and Latin America
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