IoT Operating Systems Market: Introduction
The global IoT operating systems market is projected to reach a value of ~US$ 20 Bn by 2030. The IoT operating systems market is projected to expand at a CAGR of ~38% from 2020 to 2030. The expansion of the IoT operating systems market can be attributed to the high demand for smart IoT solutions among healthcare, manufacturing, and other growing industries. North America is anticipated to lead the global IoT operating systems market in terms of revenue, followed by Asia Pacific during the forecast period.
The IoT operating systems market is witnessing noticeable growth, owing to the growing adoption of cloud computing in IoT operating system solutions globally. IoT can benefit M2M infrastructure with unlimited storage capabilities and resources of cloud to compensate its technological constraints such as processing, storage, and energy. The cloud also offers solutions to implement IoT device service management and applications that can process the data produced. Hence, increasing use of cloud computing is expected to further lead to the growth of Internet of Things (IoT) devices and the IoT operating systems market. Cloud computing is a model that was introduced by solution providers to provide IT services and business. The three levels of cloud computing (IaaS, PaaS, and SaaS) cover a huge range of services. Apart from service delivery and computing model of storage infrastructure, various models such as software application, operating system, data, and programming is also applicable to cloud computing. The impact analysis of increasing use of cloud computing with IoT devices is likely to boost the market for IoT operating systems over the next few years.
IoT Operating Systems: Market Segmentation
The global IoT operating systems market has been segmented based on component, enterprise size, application, and region. In terms of component, the IoT operating systems market has been segmented into device type and professional services. Based on enterprise size, the market has been divided into small & medium enterprises, and large enterprises. In terms of application, the market has been segmented into smart building, smart manufacturing/smart factories, smart utilities, connected logistics, smart retail, smart healthcare, digital signage, IoT wearable, and capillary networks management. Demand for IoT operating systems from smart healthcare and smart manufacturing sectors are expected to rise during the forecast period.
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IoT Operating Systems Market: Regional Outlook
In terms of region, the global IoT operating systems market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is estimated to dominate the global IoT operating systems market and account for 37.6% share by the end of 2020. It is estimated to maintain its dominance during the forecast period. The market in Asia Pacific is estimated to expand at a growth rate (CAGR) of 42.3% during the forecast period, due to increasing adoption of cloud computing and growing demand for smart IoT devices in manufacturing and healthcare sectors. The IoT operating systems market in Europe and South America is expected to expand moderately during the forecast period.
The report provides in-depth segment analysis of the global IoT operating systems market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which offer considerable opportunities or account for significant share has also been included as part of geographic analysis for the IoT operating systems market.