The global IoT Platform market to grow at a CAGR of 31.79% during the period 2017-2021.
This report, Global IoT Platform Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is large-scale benefits of using IoT devices driving IoT platform market. The growing emphasis on a connected environment has resulted in IoT being one of the most rapidly growing markets. An estimated 35 billion devices are expected to be a part of this connected environment by 2021. IoT devices collect data through sensors and actuators, transmitting it to a centralized location on a real-time basis. This empowers the end-user to make informed decisions. The adoption of IoT devices is rising across market segments such as consumer electronics, automotive, and medical. An increasing number of organizations, industries, and technologists are adopting the Internet of Things (IoT) because of its potential applications and numerous advantages.