Global Cloud Computing In Industrial IoT Market Set For Rapid Growth, To Reach USD 46,230.0 Million by 2026

Sarasota, FL -- (SBWire) -- 07/23/2018 --The new report by Zion Market Research on the "Cloud Computing In Industrial IoT Market by Model (Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS)), by Cloud Type (Private, Public, and Hybrid), by Sensor Type (Temperature Sensors, Proximity Sensor, Optical Sensors, Pressure Sensors, and Others (Sound Sensors and Gyroscopic Sensors)), and by End Users (Manufacturing, Healthcare, Oil and Gas, Transportation, Energy, and Others (Mining, Logistics, and Agriculture)): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2026'' has a vast information about the market and its potential. The global cloud computing in industrial IoT market was valued at around USD 4,680.0 million in the year 2016 and it is expected to reach approximately USD 46,230.0 million by 2026. The global cloud computing in industrial IoT market is expected to exhibit a CAGR of more than 25.9% between 2017 and 2026.

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Increasing wireless networking technologies and rising adoption of cloud platform across the globe are the key factors that will trigger the growth of the cloud computing in industrial IoT sector. Cloud computing in industrial IoT delivers the computing services such as storage, servers, networking, databases, software, analytics, and much more. Cloud computing offers web-based tools and software applications through which regular procedures and tasks in the IoT industry are automated. The cloud-based storage provides the remote database to save the data files rather than keeping files on a proprietary hard drive or local storage device. On the other hand, the high cost and concerns regarding security and privacy of data will restrict the global cloud computing in industrial IoT market over the forecast period.

IoT cloud is a platform designed to store and process Internet of Things (IoT) data. The cloud platform provides access to the device manufacturer and service providers for advanced analytics and monitoring. Another driver for the growth of cloud adoption in IoT is its cost-effective services. It has been estimated that an organization can save more than 35% of the annual cost by adopting cloud computing technology. These factors will increase the revenue of cloud computing in industrial IoT market in near future. Owing to this, cloud computing in industrial IoT market will grow with a CAGR of 25.9% between 2017 and 2026.

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Reduction in the cost of connected devices is the opportunity for the market. The lack of consistency in interconnectivity and interoperability along with the security issues are the challenging factors for the growth of the cloud computing in industrial IoT market

The Asia Pacific contributes for the largest share of global cloud computing in industrial IoT market over the forecast period. The Asia Pacific region dominated the market by accounting for more than 39% share in 2016 and is anticipated to continue its dominance by the end of the forecasted period, owing to high investments in technological upgradation and the developing industrial sectors coupled with augmented adoption rate of IoT is expected to boost the market in the region over the forecast period. North America holds the second largest position in global cloud computing in industrial IoT market, owing to the rapid adoption of technologies and willingness to invest in automation processes in the region.

The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report are Amazon Web Services, Inc., Asigra Inc., Carbonite, Inc., CISCO, Cumulocity GmBH, Druva Software, DXC Technology Company, FUJITSU, General Electric, Honeywell International Inc., IBM, Intel Corporation, Iron Mountain Incorporated, IROOTECH, LosantIoT, Inc., Microsoft Corporation, and much more.

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The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their component portfolio. On Feb 27, 2018, Honeywell International Inc. launched MAXPRO Cloud Integrated Security Platform designed specifically for small-to-medium-sized (SMB) businesses.