The Asia Pacific IoT Cloud Platform Market would witness market growth of 15.1% CAGR during the forecast period (2022-2028).
The IoT market is expanding as a result of improvements in industrial-grade digital technology, rising interest in cloud-based IoT software, and growing need for better supply chain and customer relationship management. In addition to offering smart gadgets to automate houses, which are increasingly becoming customers' top preferences, IoT lets people live and work intelligently and even acquire complete control over their life.
IoT also offers organizations real-time views of how their systems function, giving them information on anything from the performance of machines to supply chain and logistics activities. Additionally, it decreases waste, improves service delivery, lowers the cost of manufacturing and shipping items, and even offers transparency into customer transactions, creating appealing potential for market expansion.
IoT is expanding its capabilities in cold chain monitoring for food and pharmaceutical products that require precise temperature control. Retailers employ IoT to avoid security problems and install IoT-capable devices that can fend off obstructions in their storage facilities and retail locations. For instance, a RELX company opened its first flagship location in China in 2020 and equipped it with facial recognition cameras that can notify workers when a questionable person enters the store.
The countries in Asia Pacific are also taking bold first steps to improve their IT infrastructures, enabling commercial users to adopt cutting-edge technologies. Improved service quality is the focus of certain extensively adopted government programs. This region, which is the most urbanized on the planet, is home to numerous developing economies who are engaging in extreme urbanization. By creating data gathering systems and integrating sophisticated analytics capabilities into the current system, communication service providers and manufacturers in the Asia Pacific region are diversifying their portfolios to increase revenue from IoT possibilities. These factors will have a positive impact on the regional IoT cloud platform market's growth.
The China market dominated the Asia Pacific IoT Cloud Platform Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,146.7 Million by 2028.The Japan market is estimated to grow a CAGR of 14.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 15.7% during (2022 - 2028).
Based on Application, the market is segmented into Industrial Automation & Smart Manufacturing, Smart Infrastructure, Automotive, Healthcare, Retail & E-commerce, BFSI and Others. Based on Organization Size, the market is segmented into Large Size Organizations and Small & Medium Sized Organizations. Based on Offering, the market is segmented into Platform (Without Services) and Services. Based on Platform Type, the market is segmented into Device Management, Connectivity & Communication and Analytics. Based on Deployment Type, the market is segmented into Commercial, Private and Hybrid. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide IoT Cloud Platform Market is Projected to reach USD 39.8 Billion by 2028, at a CAGR of 14.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Microsoft Corporation, Google LLC, Cisco Systems, Inc., IBM Corporation, Oracle Corporation, Salesforce, Inc., Siemens AG, Alibaba Group Holding Limited, and Robert Bosch GmbH.
By Application
By Organization Size
By Offering
By Deployment Type
By Country
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