The Internet of Things (IoT) cloud platform market is estimated to grow from USD 1.88 billion in 2016 to USD 7.15 billion by 2021, at a compound annual growth rate (CAGR) of 30.6 percent over the next 5 years, predicts Markets and Markets. Artificial intelligence, digital healthcare technology, robotics, and data analytics are some of the disruptive technologies likely to impact the future of the IoT cloud platform market. The integration of IoT cloud platform helps enterprises' IT infrastructure to monitor, analyze, and control the main network connectivity. Platforms such as device management and connectivity management have high global acceptance in the IT industry; however, the emerging application enablement platform is expected to witness a high growth rate. The global market is expected to grow significantly during 2016–2021. North America is expected to hold the largest share of the IoT cloud platform market, followed by Europe.


 

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