The global Iot Platforms market size was valued at USD 2.260 billion in 2019 and is expected to reach USD 13.310 billion by 2026, at a significant CAGR of 28.5%. This growth can be attributed to the flexible scaling of data storage in the cloud. Since, there is a growth in the number of connected devices, significant volumes of data can be stored, downloaded, and uploaded. This also enables enterprises to improve their ability to handle IoT data resources with the help of IoT Platforms.
In 2019, the Best Iot Platforms market was dominated by AWS (US), Google (US), and IBM (US). A few of the key strategies executed by these players to compete in the IoT Platforms market include product launches, partnerships, collaborations, and agreements. There was also a significant number of acquisitions & mergers during this period.
AWS (US) offers global compute, storage, database, and other service offerings. The company offers support to developers and enterprises of all sizes. It offers key infrastructure services to businesses in the form of web services – known as cloud computing. In the IoT Platforms market, AWS provides IoT device software, IoT control services, and data services. The IoT device software enables users to securely connect devices, gather data, and take intelligent actions locally, even when internet connectivity is not available. AWS’ IoT services comprise device software, connectivity and control services, and analytics services. The connectivity and control services allow users to control, manage, and secure large and diverse device fleets. The analytics services help users extract value from IoT data. The company offers the AWS IoT Core platform, which enables customers to connect devices to AWS services and other existing devices; to secure data interactions; to process and act upon device data; and to enable applications to interact with devices, even when the devices are offline.
Google (US) is one of the leading technology players in the IoT Platforms market. The company enables developers to build, test, and deploy applications on Google’s highly scalable and reliable infrastructure. Google Cloud products assist all-sized businesses in taking advantage of the latest technologies to operate their businesses more efficiently by providing an increasing number of digital experiences that are being built in the cloud. The company’s G Suite productivity tools — which include apps such as Gmail, Docs, Drive, and Calendar — are designed with real-time collaboration and machine intelligence to help enterprise customers work smarter. In the IoT platforms market, Google offers Cloud IoT Core, a fully managed service to easily and securely connect, manage, and ingest data from globally dispersed connected devices.
IBM (US) specializes in cloud, mobile, cognitive, security, research, Watson analytics, consulting, commerce, experience design, IoT, technology support, industry solutions, system services, IT infrastructure, resiliency services, and financing. It provides services, such as business consulting, technology, financing, industry expertise, and training and skills. In the IoT platforms market, the company offers the IBM Watson IoT Platform, a fully managed, cloud-hosted service that simplifies to derive business value from IoT devices; the IBM Watson IoT Platform is available in IBM Cloud.