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The Global IoT Cloud Platform Market size is expected to reach $39.8 billion by 2028, rising at a market growth of 14.6% CAGR during the forecast period

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New York, Feb. 22, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global IoT Cloud Platform Market Size, Share & Industry Trends Analysis Report By Application, By Organization Size, By Offering, By Deployment Type, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06422486/?utm_source=GNW
IoT technology encompasses web-connected smart devices that collect data from their surroundings and use embedded systems made up of sensors, processors, and communication gear to receive, process, and store information.

Businesses across a wide range of industries are gradually embracing IoT technology to improve organizational performance and better understand their customers so they can provide better, more individualized customer care, make smarter decisions, and increase the value of their company.

The adoption of IoT cloud platforms is increasing due to factors like development of advanced data analytics, the improvement in cloud platform usage, the upgrading of wireless networking technologies, and the falling cost of connected devices. The internet of things is always in favor when it comes to tying together various smart gadgets to simplify operations and data sharing among themselves.

Numerous smart devices, including smartphones, sensors, and wearables, collect pertinent data from the devices that are then used to speed up the client experience. Over the course of the projection period, it is predicted that the IoT cloud platform market would see increased demand due to the growing need for data analysis and analytics integration.

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COVID-19 Impact Analysis

Numerous business environment sectors were impacted by the COVID-19 pandemic. This is attributed to a sharp increase in demand for cloud-based IoT solutions, which continued to be essential for businesses to thrive during the pandemic. The relaxation of lockdown and mobility restrictions in public spaces by governments across many nations induced a gain in income, which demonstrated that the negative effects of pandemic on the supply chain have been outweighed by the deployment of IoT. For the past few months, many businesses have made work from home the routine, and wherever practicable, this trend will continue. More flexibility is offered by IoT cloud platforms, businesses can save money on physical places and collaborate across geographical boundaries. Therefore, the pandemic had a positive impact on the IoT cloud platform market.

Market Growth Factors

IOT applications in the banking sector are growing

Networked technologies including IoT devices and edge computing are becoming increasingly well-liked on the market as a result of their numerous high-throughput and productivity-boosting applications. The production of IoT devices by a wide range of vendors is another factor that is accelerating the proliferation of connected devices in the modern business environment. A few examples of typical technologies and protocols used by IoT systems include radiofrequency identification (RFID), near-field communication (NFC), low-energy Bluetooth, low-energy wireless, low-energy radio protocols, LTE-A, and Wi-Fi-direct. Thus, propel the growth of the IoT cloud platform market.

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Increasing funding for smart city initiatives

The demand for IoT devices will rise as the world becomes more urbanized, as will the number of smart city initiatives and government funding for the digital economy. In order to improve infrastructure, public services, and utilities, the platform and devices are used to keep a careful eye on mobility, infrastructures, and air and water quality. Organizations have good opportunity to obtain the necessary data, such as consumer behavior in retail stores, for real-time marketing research, sensor-driven decision analytics, and fast control response in complex autonomous systems owing to internet connectivity and linked devices. Therefore, the growing efforts of transforming cities into smart cities are expediting the expansion of the IoT cloud platform market.

Market Restraining Factors

Higher probability of data breaches and security issues

User’s sensitive and private information may be collected by the IoT cloud platform. The cloud platform stores biometric data, organizational data, and customer records. Additionally, networked devices are crucial to the IoT cloud platform. These elements may increase the likelihood of a data breach. Any firm may experience revenue losses as a result of data breaches. The growing number of data breaches on cloud platforms is a serious problem. It is a critical factor that might prevent many sectors from adopting IoT cloud platforms, which is disadvantageous for the market.

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Offering Outlook

Based on offering, the IoT cloud platform market is categorized into platform (without services) and services. The services segment recorded a significant revenue share in the IoT cloud platform market in 2021. The requirement for IoT cloud services to conduct remote maintenance tasks and track the health of the company network and infrastructure is driving the segment’s expansion. The majority of the building blocks of an IoT ecosystem needs are provided by service platforms. With service provider, users don’t need to be concerned with the underlying server hardware.

Deployment Type Outlook

On the basis of deployment type, the IoT cloud platform market is divided into commercial, private, and hybrid. The commercial segment procured the highest revenue share in the IoT cloud platform market in 2021. A large part of the commercial segment’s expansion can be ascribed to elements like simple deployment, adaptability, and affordable pricing. The increasing demand for commercial clouds is also being fueled by rising investments in public cloud infrastructure and an industry-wide digital transformation that is accelerating. Furthermore, the widespread use of mobile devices and the internet also increase the accessibility of cloud platforms.

Organization Size Outlook

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Based on organization size, the IoT cloud platform market is segmented into small & medium sized organizations and large size organizations. The large size organizations segment recorded the largest revenue share in the IoT cloud platform market in 2021. To effectively manage their corporate operations, large-size enterprises are actively investing in the integration of IoT devices with cloud platforms. The expansion of the segment is being fueled by the increasing number of operational IoT devices throughout large companies. Customers of large-sized enterprises utilize IoT to uncover fresh insights from massively diversified data sets made up of both historical and current data.

Application Outlook

On the basis of application, the IoT cloud platform market is fragmented into industrial automation & smart manufacturing, smart infrastructure, automotive, healthcare, retail & e-commerce, BFSI, and others. The healthcare segment procured a significant revenue share in the IoT cloud platform market in 2021. The adoption of IoT cloud platforms in healthcare applications is anticipated to rise as a result of factors including the rising acceptance of embedded sensors, the increased utilization of wireless devices, as well as the quick development of healthcare IT. This is propelling the growth of the segment. As a result, healthcare institutions are putting a lot of effort into adopting reliable apps and connected technology.

Regional Outlook

Based on region, the IoT cloud platform market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded the highest revenue share in the IoT cloud platform market in 2021. The development of the IoT cloud platform in the region is being fueled by the spread of IoT-enabled devices, rising adoption of technologies like industry 4.0, edge computing, and cloud. The rising R&D investments in the IoT sector and the presence of significant market players like Google, IBM, and Microsoft are also propelling the incorporation of these advanced technologies.

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The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation, Google LLC, Amazon Web Services, Inc. (Amazon.com, Inc.) are the forerunners in the IoT Cloud Platform Market. Companies such as Cisco Systems, Inc., Alibaba Group Holding Limited, and Siemens AG are some of the key innovators in IoT Cloud Platform Market.

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.

Recent Strategies Deployed in IoT Cloud Platform Market

Partnerships, Collaborations and Agreements:

Dec-2022: Amazon Web Services, Inc., part of Amazon.com, Inc., signed an agreement with Slalom LLC, a global technology and business consulting company. Under this collaboration, Amazon Web Services, and Slalom, LLC would offer AWS | Slalom Launch Centers which would support enterprises boost their business transformations and upgrade IT services.

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Dec-2022: Amazon Web Services announced a collaboration with Visteon, a technology company serving the mobility industry. Through this collaboration, Visteon’s AllGo connected services supported by AWS are expected to offer value to a constituent in every vertical of the automotive industry consisting of manufacturers, vehicle app consumers, and developers. Additionally, this collaboration uses various AWS technology solutions across compute, storage, and IoT categories and a secure fast cloud environment to manage crucially connected vehicle activities and build the car’s digital ecosystem.

Dec-2022: Google Cloud partnered with KORE, a leader in the Internet of Things solutions and global IoT Connectivity-as-a-Service. This partnership was aimed to bring IoT capabilities to global enterprises. Additionally, the alliance would help companies to build robust IoT solutions that enhance Google cloud capabilities and infrastructure.

Nov-2022: Oracle came into partnership with ZainTech, a regional Digital & ICT solutions arm. Additionally, the company would boost technology transformation for businesses in the region.

Oct-2022: Amazon Web Services, Inc. collaborated with BMW Group, a manufacturer of luxury motorcycles and vehicles. Through this collaboration, Bpth companies would advance a customizable cloud software that would ease the distribution and management of data from millions of connected vehicles.

Jun-2022: Cisco teamed up with Axians, an independent IT company with software, services, hardware, and IT operations. The collaboration is aimed to provide Cisco private 5G to companies across industries in the Netherlands and Germany.

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May-2022: Amazon Web Services, Inc. teamed up with STMicroelectronics, a global company engaged in the development and creation of semiconductor technologies. In this Collaboration, Both companies would securely connect Internet of Things devices to the AWS cloud.

Mar-2022: Cisco collaborated with Mobily, a Saudi telecom operator. Together both companies would create an IoT cloud platform in Saudi Arabia. The latest cloud platform allows fully automated management for IoT devices supported by Cisco’s IoT solution with machine learning and AI capabilities.

Feb-2022: Oracle signed an agreement with Telefónica Tech, a leading company in digital transformation. Under this agreement, both companies would jointly provide cloud platform-as-a-service and applications to enterprise and public sector organizations across Telefónica Tech’s customer base. Additionally, the services would allow Telefónica Tech to offer Oracle Cloud Infrastructure (OCI) services as part of its offering as well as help customers through managed and professional services.

Nov-2021: Google Cloud teamed up with Qualcomm Technologies, Inc., a multinational corporation based in California. This collaboration would boost neural network development and differentiation for the Snapdragon Ride™ Platform, Snapdragon® mobile, ACPC, and XR platforms, and Qualcomm Technologies’ IoT platforms by using Google Cloud Vertex AI Neural Architecture Search (NAS) with the Qualcomm® Artificial Intelligence (AI) Engine.

Nov-2021: Siemens Digital Industries Software announced expanded collaboration with Amazon Web Services, Inc., a provider of on-demand cloud computing platforms. This collaboration would help enterprises optimize factory operations, and engineering efforts, improve customer experiences and speed engineering efforts from chip to edge to the cloud.

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Feb-2021: Microsoft collaborated with Bosch, a Germany-based engineering and technology company. This collaboration was aimed to simplify and boost the development and deployment of vehicle software throughout a car’s lifetime under automotive quality standards.

Feb-2021: Siemens teamed up with IBM, a global technology corporation. The collaboration is aimed to create easy-to-build edge computing applications that analyze and process data as it is being built.

Sep-2020: Microsoft teamed up with AT&T, a telecommunications holding company. Through this collaboration, companies would aim to provide an integrated IoT solution to allow companies to smoothly connect machines to the cloud with highly protected network connectivity.

Mar-2020: IBM announced a partnership with Infosys, a next-generation consulting and digital service. This partnership is aimed to help companies boost their digital transformation journey through Ibm public cloud.

Product Launches and Expansions:

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Nov-2022: Alibaba Cloud introduced ModelScope, an open-source Model-as-a-Service (MaaS) platform. This product is launched with over 300 ready-to-deploy AI models advanced by Alibaba DAMO Academy. The platform consists of over 150 state-of-the-art models. The product is aimed to make running and developing AI models simple and highly cost-effective.

Jun-2022: Siemens introduced Siemens Xcelerator, an open digital business platform. This launch is aimed to boost digital transformation and value creation for customers of all sizes in grids, mobility, industry, and buildings. The business platform makes digital transformation faster, scalable, and easier.

Nov-2021: Amazon Web Services, Inc. launched AWS IoT TwinMaker, a service that makes it simple and faster for developers to build digital twins of real-world systems like industrial equipment, production lines, factories, and buildings.

Mar-2021: IBM introduced IBM Cloud Satellite. The product would enable its enterprise clients to release constant cloud services anywhere and in any environment- across any cloud, at the edge, or on-premises. This would offer clients across multiple industries consisting of government, retail and financial services.

Mar-2021: Robert Bosch Engineering and Business Solutions released the latest Phantom Edge – an AIoT platform. The product integrates the power of AI and IoT to offer a live view of appliance-level information, electrical energy consumption, electrical parameters, and operating usage.

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Acquisitions and Mergers:

Oct-2021: Siemens took over Wattsense, a simple and open IoT solution. This acquisition broadens Siemens’ building automation portfolio for small and mid-size buildings.

Jun-2020: Microsoft took over CyberX, a security startup that is engaged in focusing particularly on detecting predicting, and stopping security breaches on IoT networks. With this collaboration, CyberX would align with the existing devices including those utilized in infrastructure scenarios, industrial IoT, and Operational Technology.

Scope of the Study

Market Segments covered in the Report:

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By Application

• Industrial Automation & Smart Manufacturing

• Smart Infrastructure

• Automotive

• Healthcare

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• Retail & E-commerce

• BFSI

• Others

By Organization Size

• Large Size Organizations

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• Small & Medium Sized Organizations

By Offering

• Platform (Without Services)

o Device Management

o Connectivity & Communication

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o Analytics

• Services

By Deployment Type

• Commercial

• Private

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• Hybrid

By Geography

• North America

o US

o Canada

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o Mexico

o Rest of North America

• Europe

o Germany

o UK

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o France

o Russia

o Spain

o Italy

o Rest of Europe

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• Asia Pacific

o China

o Japan

o India

o South Korea

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o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

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o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

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o Rest of LAMEA

Companies Profiled

• Amazon Web Services, Inc. (Amazon.com, Inc.)

• Microsoft Corporation

• Google LLC

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• Cisco Systems, Inc.

• IBM Corporation

• Oracle Corporation

• Salesforce, Inc.

• Siemens AG

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• Alibaba Group Holding Limited

• Robert Bosch GmbH

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

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• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06422486/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Aero Design Labs receives U.S. and EASA approval for updated Boeing 737-800 drag reduction kit

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FORT WORTH, Texas, Sept. 30, 2024 /PRNewswire/ — Aero Design Labs (ADL) today announced it has received a Supplementary Type Certificate (STC) from the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) approval for its enhanced Boeing 737-800 drag reduction kit 2.0.

“We are delighted to introduce our next generation of the drag reduction kit, which we are referring to as ‘ADL Kit 2.0′,” said Jeff Martin, ADL President and CEO. “The ADL team has once again demonstrated its expertise and commitment to aviation carbon reduction through its continued improvement process. ADL’s next generation Kit 2.0 is an evolution from our original designs, meeting the stringent requirements based on valuable feedback from our launch partners. With our new EASA approval, we can now offer our carbon reduction kits to new EU airline customers.”
The ADL Kit 2.0 captures new benefits, and significantly reduces the installation time, delivering reduced out-of-service time for the conversion while generating meaningful fuel savings and reduced carbon emissions across the popular Boeing 737-800 variant. Based on feedback from airline partners, it is anticipated that a kit can be installed overnight, minimizing critical out-of-service time for the airlines.
“Having served as an airline operational executive, I understand the need for airlines to reduce their carbon footprint, save fuel and minimize aircraft out-of-service time for the modification,” said David Campbell, ADL Chief Operating Officer. “ADL Kit 2.0 offers better economics and a shorter payback period, assisting airlines with fuel savings and carbon reduction including their IATA CORSIA carbon reduction pledges.”
“On behalf of the team at ADL, we thank ALOFT AeroArchitects, NORDAM, AAR Corp, and the many airline partners who have assisted us on this journey”, concluded Jeff Martin. “Their feedback and contributions to our engineering efforts and joint commitments to reducing aviation carbon emissions are invaluable.”
About Aero Design Labs L.L.C.
Founded in 2015, Aero Design Labs (ADL) leads the way in the research, development and installation of drag reduction systems for airline fleets globally. ADL modifications to airlines’ existing fleets can result in fuel savings, extend fleet longevity and the potential for billions of pounds of CO2 to be prevented from entering the atmosphere. 
Media inquiries: Richard Bartrem [email protected]
Sales inquiries: David Campbell [email protected]
Logo – https://mma.prnewswire.com/media/2519564/Aero_Design_Labs_Logo_Logo.jpg 

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DocPro Limited Announces the Launch of DocLegal.ai

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Affordable AI-Powered Legal Solutions
HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.

DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:
Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.
DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.
As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50  per document. Interested parties can Visit the DocLegal.ai website to sign up.
About DocPro Limited
Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.
DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.
Media Enquiries: 
Kim [email protected]

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Amagi and Phenix Partner to Bring Next-Gen Low Latency and Seamless Ad Insertion for the Ultimate Viewer Experience

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Bitmovin Complements the Partnership With Its New Player Web X, Guaranteeing Seamless, Crystal-Clear Video Playback
NEW YORK, Sept. 30, 2024 /PRNewswire/ — Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with Phenix Real Time Solutions to deliver next-generation FAST (free ad-supported streaming TV) and live events with the lowest latency available in the streaming marketplace. Amagi and Phenix will provide a complete turnkey solution for content owners to achieve real-time streaming with subsecond latency and server-side ad insertion (SSAI). By combining automation, scheduling, real-time streaming, and ad monetization, streaming customers can now deliver a “see it here first” experience, eliminate spoilers from social media, and provide a best-in-class viewing experience for their audiences.

Bitmovin adds a unique element to the mix by ensuring effortless, smooth playback on any browser, regardless of the device. Bitmovin’s open-source plugin system makes integration easy and provides the tools to maintain high-quality playback. The latest update also includes compatibility with Phenix Real-Time SSAI, combining flawless playback with real-time ad insertion.
The direct integration with Phenix now enables Amagi to output content from its Amagi CLOUDPORT automated scheduling and playout system into Phenix’s globally distributed real-time streaming network of over 34 points of presence for real-time delivery to viewers with subsecond latency. Further integration between Amagi’s Ad Tech platform and Phenix’s real-time SSAI capabilities facilitates dynamic and personalized ads while maintaining real-time playback and full compatibility with Bitmovin.
Bill Wishon, Phenix’s Chief Product Officer, stated, “Amagi has established itself as the foremost authority on FAST channel delivery. As a cloud-first company, Amagi has built itself into a pioneer in cloud technology for broadcasting and OTT. We are thrilled to join forces with them in delivering these innovative solutions.”
“Working with Phenix, the leader in real-time, scalable streaming delivery, allows Amagi to offer clients a full solution, including the industry’s first server-side ad insertion in real time. We can’t wait to see how customers deploy these workflows for next-generation OTT streaming,” said Richard Perkett, Chief Product Officer at Amagi.
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Representatives from all the companies will be attending Amagi’s LA FAST 2024 conference on Oct. 1. More information is available at www.amagi.com/events/la-fast.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About Phenix
As the leader in delivering interactive video at scale, Phenix powers innovative digital experiences that drive acquisition, engagement and retention for some of the world’s biggest brands. Its patented technology is essential for delivering content in real-time that engages audiences with interactive experiences and generates revenue for sportsbooks, sports and gaming properties as well as broadcasters with real-time video streaming to global audiences at broadcast scale. Trusted with streaming video for world-class events like The Oscars, Cheltenham Festival and the Super Bowl, Phenix brings proven experience delivering video to mass audiences for the world’s largest events.
Phenix is headquartered in Chicago, Illinois, with offices in California and Europe. More information is available on the Phenix website or follow them on Twitter and LinkedIn.
About Bitmovin
Bitmovin is the leading provider of video infrastructure for global digital media companies and service providers. The company has been at the forefront of industry innovation and all major developments in the digital video streaming industry. 
Bitmovin built the world’s first commercial adaptive streaming player and deployed the first software-defined encoding service that runs on any cloud platform. Its cloud-native technology offers the most flexible and scalable media encoding, playback, and analytics solutions available with unparalleled device reach, ease of integration, and world-class customer support.
Bitmovin customers benefit from optimized operations, reduced time-to-market, and the best viewer experience possible. Bitmovin is headquartered in Denver, Colorado, and has major offices in Vienna, Klagenfurt, Austria as well as London and Berlin. The company has over 400 customers across the globe, including ClassPass, BBC, fuboTV, Hulu, and Discovery.
More information is available at www.bitmovin.com
Photo: https://mma.prnewswire.com/media/2519499/Amagi_and_Phenix_partner.jpg
 

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