IoT Market

The estimated value of the global loT market is expected to increase from USD 64.8 billion in 2024 to USD 153.2 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 18.8%. The market is expanding because of advancements in wireless communication tech, rising smart device usage, growing demand for data analytics, and increased lot usage in sectors such as healthcare, manufacturing, and transportation.

Prominent companies in the loT market include AWS (US), Microsoft (US), Oracle (US), Cisco Systems Inc. (US), SAP (Germany), Avnet Inc. (US), IBM (US), Google (US), PTC (US), Software AG (Germany), Hitachi Ltd. (Japan), Telit Cinterion (UK), STC (Saudi Arabia), Alibaba Cloud (China), Braincube (France), Datadog (US), Bosch (Germany), Particle Industries Inc. (US), HQSoftware (Estonia), Clearblade (US), Ayla Networks Inc. (US), Losant IoT (US), IoT Factory (Belgium), Oxagile (US), Portainer.IO (New Zealand), Emnify (Germany), Sumatosoft (US). The market players have adopted various strategies to improve their market position. Players focus on improving innovation through research and development initiatives, establishing strategic partnerships with key industry stakeholders, scalability, customer engagement, and facilitating mergers and acquisitions to strengthen their technological capabilities and market existence.

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AMAZON WEB SERVICES, INC.

Amazon Web Services, a department of Amazon.Com, Inc., promises a wide array of cloud computing offerings through its legitimate name, Amazon Web Services, Inc. AWS presents various cloud infrastructure services which include computing, storage, databases, networking, analytics, cell, developer tools, augmented fact, virtual reality, robotics, game tech, device studying, control equipment, content material shipping, media offerings, patron engagement, app streaming, and protection, identity, and compliance.

The company is active in different sectors, including government, start-ups, academic institutions, automotive, digital marketing, telecommunications, education, retail, financial services, media, gaming, consumer packaged goods (CPG), health and life sciences, power and utilities, and non-profit organizations. AWS's Internet of Things (IoT) solutions are included in its wide range of cloud services, including AWS IOT Core, AWS IOT Greengrass, and AWS Analytics for the Internet of Things. This service provides devices, edge computing, and advanced analytics for secure connectivity for IoT applications. AWS has a global presence, operating in North America, Europe, Middle East Africa, Asia Pacific and Latin America. For fiscal year 2023, Amazon reported total revenue in U.S. dollars. $574.79 billion.

MICROSOFT

The firm is widely recognized as Microsoft Corporation and plays important roles in various sectors of the technology industry. The company’s product line includes server applications, developer tools, operating systems, productivity programs, business solutions, management consoles, gaming devices as well as educational services. Microsoft is a significant player in the hardware industry, producing PCs, tablets, and various smart devices. In addition, the company offers a wide range of cloud services, such as Azure cloud computing solutions, along with support and consulting services via its worldwide network of partners and channels.

In its operational organization, Microsoft categorizes its business into separate segments. These sections consist of productivity and business Processes, which center on office productivity suite, LinkedIn professional networking services, and dynamics business solutions. The intelligent cloud category includes Azure Cloud services, server products, and enterprise services.

The whole range of IoT solutions is offered by Microsoft’s Intelligent Cloud. This includes Azure IoT, Azure Sphere that is used for Securing IoT and devices and other solutions designed for industry automation or smart cities. These offerings are vital for Microsoft’s objective of providing businesses and organizations with scalable and secure solutions for different industries in every part of the world.

Microsoft is present globally in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Related Reports:

IoT Market by Offering (Platforms, Services), Focus Area (Smart Manufacturing, Smart Transportation/Mobility, Smart Healthcare, Smart Retail, Smart Cities, Smart building, Smart Energy & Utilities), Application - Global Forecast to 2029

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