Internet Of Things (IoT) Platform Market Share, Growth & Analysis (2022-27)

 

Market Overview:

Over the forecast period, the market for Internet of Things (IoT) platforms is anticipated to grow at a CAGR of 15.2%. Development boards created specifically for IoT applications make up IoT platforms. These platforms are crucial in assisting various IoT device designers connect their projects to the internet. Connectivity to a variety of IoT-compatible hardware devices, including laptops, smartphones, wearable fitness equipment, industrial control systems, automotive telematics units, etc., is provided by an IoT platform.

IoT platforms, also known as application enablement platforms (AEPs), are a type of middleware that sits between IoT devices, gateways, and the applications they enable developers to create. A processing unit, a memory unit, and a connectivity module are among the fundamental parts of a typical IoT platform. They make it simple to integrate currently available commercial sensors and actuators.

Scope of the Report:

IoT platforms are the key component of the Internet of Things architecture, which connects the physical and digital worlds to enable object-to-object communication, support application development, control data flows, and offer rudimentary analytics for interconnected IoT devices. It utilises a multi-layer technology that uses the Internet to handle, process, and transfer data to and from connected devices. The deployment (On-premise, Cloud/SaaS), type of platform (Application Enablement, Device Management, Advanced Analytics, Cloud Storage/IaaS, Connectivity), end-user industry (Industrial, Connected Buildings, Smart Home, Mobility, Medical), and geography segments are used to analyse the market for Internet of Things platforms.

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