Global Open IoT Platform Market Research Report: By Component (Hardware, Software, Service [Professional Services, Managed Services]), Deployment (Cloud [Public Cloud, Private Cloud, Hybrid Cloud] and On-Premise), Organization Size (SMEs and Large Enterprise), and Industry Vertical (Government, Healthcare, Education, Manufacturing, Retail, Power & Utilities, Automotive, IT & Telecom), and Region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America)— Forecast till 2025
In this rapidly changing world of technology, open IoT platform market is projected to show major growth prospects during the forecast period. An IoT platform combines several software functions into one solution to enable companies to develop and deploy IoT solutions faster, better and cheaper.
As compared to other regions, the open IoT platform market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of open IoT platform market. This is owing to the presence of large number of established key players and increasing popularity among the developer community in that region. In addition to this, the region also has a well-established infrastructure and is expected to be a major factor for the growth of open IoT platform market.
The open IoT platform market is growing rapidly over 25% of CAGR and is expected to reach at approx. USD 4.3 Billion by the end of forecast period.
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Open IoT platform Market Segmentation
The Open IoT platform market has been segmented on the basis of component, deployment and end user. The component segment comprises of hardware and software components. Software components segment is very popular among the components segment owing to the free availability of source codes for general people to develop and modify codes, in order to develop new applications.
The prominent players in the Open IoT platform market are – Amazon Web Services (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Samsung Group (South Korea), Bosch (Germany), Ayla Networks (U.S.), Google, Inc. (U.S.), General Electric (U.S.), Oracle (U.S.), among others.
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Open IoT Platform MarketIn this rapidly changing world of technology, open IoT platform market is projected to show major growth prospects during the forecast period.
An IoT platform combines several software functions into one solution to enable companies to develop and deploy IoT solutions faster, better and cheaper.As compared to other regions, the open IoT platform market in North America is expected to witness significant growth and hold the largest market share during the forecast period.
U.S and Canada are anticipated to drive the growth of open IoT platform market.
This is owing to the presence of large number of established key players and increasing popularity among the developer community in that region.
In addition to this, the region also has a well-established infrastructure and is expected to be a major factor for the growth of open IoT platform market.The open IoT platform market is growing rapidly over 25% of CAGR and is expected to reach at approx.
USD 4.3 Billion by the end of forecast period.Open IoT platform market can be segmented on the basis of component, deployment and end user.
Open IoT Platform Market SizeIn this rapidly changing world of technology, open IoT platform market is projected to show major growth prospects during the forecast period.
An IoT platform combines several software functions into one solution to enable companies to develop and deploy IoT solutions faster, better and cheaper.As compared to other regions, the open IoT platform market in North America is expected to witness significant growth and hold the largest market share during the forecast period.
In addition to this, the region also has a well-established infrastructure and is expected to be a major factor for the growth of open IoT platform market.The open IoT platform market is growing rapidly over 25% of CAGR and is expected to reach at approx.
USD 4.3 Billion by the end of forecast period.
Market Research Analysis:The global open IoT platform market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World.
Within Asia Pacific, open IoT platform market is projected to contribute faster to the growth of revenue backed by increasing demand from developers in countries such as Japan, China and India.Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of open IoT platform market.
Market HighlightsThe global open IoT platform market 2020, according to MRFR, is poised to reach roughly USD 5.96 billion by 2025, expanding at 15.5% CAGR over the review period (2019—2025).Market ScenarioOver the forecast era, the open IoT platform market is expected to show significant growth prospects in this rapidly evolving environment of technology.
Data security and privacy concerns are, however, the factor that hampers market growth over the forecast period.Get a Free Sample @https://www.marketresearchfuture.com/sample_request/3896Segmentation:The global market for the open IoT platform was segmented into component, deployment, organizational size and vertical industry.The global open IoT platform market was segmented by component into hardware, software, and services.
The services segment was further classified as professional and managed services.The market was categorized by deployment into cloud (private, public, and hybrid) and on-premise.The global open IoT platform market was segmented into SMEs and large organizations by organization sizeBy vertical industry the market was divided into government, healthcare, education, manufacturing, retail, electricity & utilities, automotive, and IT & Telecom.Regional AnalysisThe global open IoT application market regional research is being studied for Asia-Pacific, Europe, Middle East & Africa, North America and South America.Thanks to the prevalence of early adopters of the new technologies in this area North America dominates the global open IoT platform segment.
The growth is also attributed to the involvement of a large number of existing core players such as Google, Inc., IBM Corporation, and Oracle Corporation leading this region's open IoT platform market.
The area also has a well-established infrastructure in addition to this, and is expected to be a key factor in the development of the open IoT platform sector.
Those are some of the aspects that are responsible for the growth of the region's global open IoT platform market over the forecast period.Countries throughout Europe include Germany, France and Great Britain.
