IoT Platform Market ? Top by Industry Verticals as Retail, Healthcare, BFSI, Oil

Posted by RASHMI on March 13th, 2019

The global IoT platform is at a nascent stage and is expected to witness a healthy competitive landscape in the coming few years, says a new research study by Transparency Market Research. The expansion of the product portfolio, innovations, and technological advancements are some of the major strategies that are being adopted by the leading players so as to enhance their penetration across the globe.

In addition to this, the growing focus on the research and development activities and the improvements in the product cost and quality are further estimated to support market growth in the near future.

The global IoT platform market has been classified on the basis of geography into five segments, among which, North America is projected to emerge as a leading segment throughout the forecast period. The presence of several leading players and the increasing adoption of new and advanced technologies are the primary factors that are estimated to enhance the development of the market in the coming years.

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On the other hand, Europe is estimated to witness a promising growth throughout the forecast period, owing to the favorable government initiatives. Moreover, the rising contribution from the U.K., France, and Germany is predicted to enhance the growth of the Europe IoT platform market in the near future. The rise in the level of adoption of digitalization, especially in emerging economies is expected to support the growth of Asia Pacific market in the near future.