Pune, India -- (SBWIRE) -- 02/25/2019 -- Internet of things (IoT) is a rapidly growing and most adapted technology which makes our world as connected as possible. It establishes advanced connectivity amongst the devices, systems and people to automate every possible area. Environmental monitoring, infrastructure management, industrial applications, healthcare systems, home automation are a few sectors where IoT is being extensively used. IoT systems need IoT platform, which is a support software for connectivity. IoT platforms help to connect hardware, handle different communication protocols, provide security and authentication for devices and users, collect, visualize, and analyze data and integrate with other web services.

IoT cloud platform is the support software which offers connectivity of access points, data networks and other parts of the value chain. It handles data visualization and ongoing management tasks. IoT platforms offer ease of use, scalability, code control and integration to the globally connected IoT devices. It is an essential solution for smart city and smart energy integrators, smart device vendors, retail, healthcare, hospitality and travelling domains. Such easy connectivity and control helps to achieve smart solutions.

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Profiling Key Players in this study: Amazon Web Services, Google Inc., International Business Machines Corporation (IBM), Microsoft Corporation, Salesforce.com. Inc., General Electric, PTC, SAP SE, Telit, Scinan IoT, and Samsung.

There is a rise in consumer adoption of network-connected devices, such as in-home connectivity, wearable technology, etc. IoT offers strong home security systems, secure monitoring at public places, regulated public transport, which entice the users. Personal security is a pivotal factor in the society which is being overcome by IoT smart devices. Operating flexibility of the public places boosts the usage of IoT platforms on larger scales. The connectivity solutions have built interest in manufacturers to enable consumer self-service and monitor usage and new business models. IoT technology usage in healthcare has also been increasing globally. This mass adoption of IoT devices is encouraging IoT cloud platform market.

The vulnerability to hacking, privacy issues related to IoT cloud platforms is restricting the adoption of this technology in certain industries.

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Device Management to be the Dominant Segment During the Forecast Period, 2018 - 2026

The IoT device management offers device authentication, which is securely establishing the identity of the device to ensure authenticity. Monitoring and diagnostics are important to lower the impact of any device downtime due to operational problems. Device management offers issuing a command to update and reload firmware in order to maintain security of remote device and implement feature enhancements. Owing to the key features such as configuration and control, monitoring, diagnostics, software maintenance and update has made device management to have dominant share in the market in terms of revenue. Application of these services ensure a great consumer experience and good uptime and device security.

IoT Cloud Platform Market – By Type
- Device Management
- Connectivity Management
- Application Enablement Services

IoT Cloud Platform Market – By Application
- Home Automation
- Wearable Technology
- Smart City
- Industrial Automation
- Connected Transportation
- Healthcare
- Smart Retail
- Smart Agriculture
- Connected Logistics
- Others

Market by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America

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North America to Remain the Dominant Region during the Forecast Period, 2018 - 2026

The growing adoption of IoT devices in North America has made it the dominant region in the global market. North America is known for its technical advancement. The IoT tech expo held in the region is attended by the mass from all the verticals such as manufacturing, health, logistics, government, automotive, energy and more. Such expo interests the IT decision makers, developers, government and council officials, operators, technology providers, investors and venture capitalists with the latest innovations across the entire IoT ecosystem. Such initiatives have highlighted the advancements in technologies in the region, which are affecting IoT including smart transportation and cities, connected Industry, consumer IoT, IoT innovations and technologies and privacy and security. US is the dominant country in North America in terms of revenue.