IoT Cloud Service Market Report 2025 (Global Edition)

Global IoT Cloud Service Market Report 2025 Market Size Split by Type (Professional Services, Training and Consulting, Integration and Deployment, Support and Maintenance, Managed Services), by Deploy...

IoT Cloud Service Market Report Description

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IoT Cloud Service Market Insights Video

Competitive Landscape of the IoT Cloud Service Market

The competitive landscape of the IoT cloud service market is characterized by a mix of large multinational corporations, niche players, and start-ups. The market is expected to continue growing as more organizations adopt IoT solutions to drive digital transformation and improve operational efficiency.

January 2020: AWS partnered with BlackBerry, to develop a safe, secure, and intelligent connected vehicle software platform for in-vehicle applications. (Source: https://aws.amazon.com/automotive/solution_blackberry/) November 2019: Google announced the acquisition of Fitbit, a leading wearable brand, for approximately USD 2.1 billion. (Source:https://www.fiercehealthcare.com/tech/google-closes-2-1b-acquisition-fitbit-as-justice-department-probe-continues#:~:text=Google%20has%20closed%20its%20deal,the%20company%20at%20%242.1%20billion)

Top Companies Market Share in IoT Cloud Service Industry: (In no particular order of Rank)

• AWS (US)
• Microsoft (US)
• Google (US)
• Cisco Systems (US)
• IBM (US)
• Oracle (US)
• Salesforce.com (US)
• SAP (Germany)
• PTC (US)
• Samsung (South Korea)
• Bosch.IO (Germany)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the IoT Cloud Service Market

Which Region Dominates the IoT Cloud Service Market in 2024?

According to Cognitive Market Research, North America holds a dominant position in the IoT Cloud Service Market due to several key factors. Firstly, the region has a highly developed infrastructure for cloud services and IoT adoption, supported by a robust network connectivity and data center ecosystem. Secondly, North America is home to many leading technology companies that drive innovation in IoT cloud services, offering advanced solutions and driving market growth. Additionally, the region benefits from a strong regulatory environment that encourages IoT adoption and data protection.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific is the fastest-growing region in the IoT Cloud Service Market due to several key factors. Firstly, the region has a large and rapidly expanding population, with a growing number of tech-savvy consumers and businesses adopting IoT solutions. Secondly, the increasing digitization of industries such as manufacturing, healthcare, and transportation is driving the demand for IoT cloud services to improve operational efficiency and customer experience. Additionally, governments in the region are increasingly investing in smart city initiatives, which rely heavily on IoT technologies.

 

The current report Scope analyzes IoT Cloud Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America IoT Cloud Service Market Analysis

According to Cognitive Market Research, the global IoT Cloud Service market size was estimated at USD 6815.2 million of which North America held the major market of more than 40% of the global revenue with a market size of USD 2726.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8%from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the IoT Cloud Service market with a market size of USD 2150.88 million in 2024 and is projected to grow at a CAGR of 11.6% during the forecast period. The demand is amplified by the nation's increasing demand for real-time data analysis.
• The Canada IoT Cloud Service market had a market share of USD 327.13 million in 2024 and is projected to grow at a CAGR of 12.6% during the forecast period. Canada's cost-effectiveness and scalability.
• The Mexico IoT Cloud Service market is projected to witness growth at a CAGR of 12.3% during the forecast period with a market size of USD 248.07 million in 2024.

Europe IoT Cloud Service Market Analysis

According to Cognitive Market Research, the global IoT Cloud Service market size was estimated at USD 6815.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 2044.56million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.1%from 2024 to 2031.

• The United Kingdom IoT Cloud Service market had a market share of USD 343.49 million in 2024 and is projected to grow at a CAGR of 12.9% during the forecast period. In the UK, IoT Cloud Service sales witness an upswing due to the nation's strong emphasis on industrial automation.
• The France IoT Cloud Service market is projected to witness growth at a CAGR of 11.3% during the forecast period with a market size of USD 188.10 million in 2024.
• According to Cognitive Market Research, the Germany IoT Cloud Service market size was valued at USD 404.82 million in 2024 and is projected to grow at a CAGR of12.3% during the forecast period. In Germany, IoT Cloud Service sales surge due to the smart city initiatives.
• The Italy IoT Cloud Service market is projected to witness growth at a CAGR of 11.5% during the forecast period with a market size of USD 175.83 million in 2024.
• The Russia IoT Cloud Service market is projected to witness growth at a CAGR of 11.1% during the forecast period with a market size of USD 316.91 million in 2024.
• The Spain IoT Cloud Service market is projected to witness growth at a CAGR of 11.2% during the forecast period with a market size of USD 167.65 million in 2024
• The LuxembourgIoT Cloud Service market is projected to witness growth at a CAGR of 12.2% during the forecast period with a market size of USD 63.38 million in 2024.
• The PortugalIoT Cloud Service market is projected to witness growth at a CAGR of 11.9% during the forecast period with a market size of USD 42.94 million in 2024.
• The GreeceIoT Cloud Service market is projected to witness growth at a CAGR of 12.4% during the forecast period with a market size of USD 24.53 million in 2024.
• Rest of Europe IoT Cloud Service market is projected to witness growth at a CAGR of 10.8% during the forecast period with a market size of USD 316.91 million in 2024.

Asia Pacific IoT Cloud Service Market Analysis

According to Cognitive Market Research, the global IoT Cloud Service market size was estimated at USD 6815.2Million out of which Asia Pacific held the market ofaround23% of the global revenue with a market size of USD 1567.50million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.6%from 2024 to 2031.

• According to Cognitive Market Research, the China IoT Cloud Service market size was valued at USD 705.37 million in 2024 and is projected to grow at a CAGR of 15.1% during the forecast period. IoT Cloud Service sales surge in China due to the rapid urbanization, increasing adoption of smart devices.
• The Japan IoT Cloud Service market is projected to witness growth at a CAGR of 14.1% during the forecast period with a market size of USD 216.31 million in 2024.
• The India IoT Cloud Service market had a market share of USD 188.10 million in 2024 and is projected to grow at a CAGR of 17.4% during the forecast period. The demand is augmented by India's rapid urbanization.
• The South Korea IoT Cloud Service market is projected to witness growth at a CAGR of 14.7% during the forecast period with a market size of USD 156.75 million in 2024.
• The Australia IoT Cloud Service market is projected to witness growth at a CAGR of 15.3% during the forecast period with a market size of USD 81.51 million in 2024.
• The South East Asia IoT Cloud Service market is projected to witness growth at a CAGR of 16.6% during the forecast period with a market size of USD 108.16 million in 2024.
• The Rest of Asia Pacific IoT Cloud Service market is projected to witness growth at a CAGR of 15.4% during the forecast period with a market size of USD 111.29 million in 2024.

South America IoT Cloud Service Market Analysis

According to Cognitive Market Research, the global IoT Cloud Service market size was estimated at USD 6815.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 340.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.0%from 2024 to 2031. ued at USD 145.85 million in 2024 and is projected to grow at a CAGR of 13.6% during the forecast period. IoT Cloud Service sales flourish in Brazil due to the increasing digitization across industries.

• Argentina IoT Cloud Service market had a market share of USD 57.25 million in 2024 and is projected to grow at a CAGR of 13.9% during the forecast period. The demand is augmented by Argentina's adoption of smart technologies.
• Colombia IoT Cloud Service market is projected to witness growth at a CAGR of 12.8% during the forecast period with a market size of USD 30.33 million in 2024.
• Peru IoT Cloud Service market is projected to witness growth at a CAGR of 13.2% during the forecast period with a market size of USD 27.94 million in 2024.
• Chile IoT Cloud Service market is projected to witness growth at a CAGR of 13.3% during the forecast period with a market size of USD 24.53 million in 2024.
• The Rest of Latin America IoT Cloud Service market is projected to witness growth at a CAGR of 12.1% during the forecast period with a market size of USD 54.86 million in 2024.

Middle East IoT Cloud Service Market Analysis

According to Cognitive Market Research, the global IoT Cloud Service market size was estimated at USD 6815.2 Million out of which Middle East and Africa held the major market ofaround 2% of the global revenue with a market size of USD 136.30million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.10%from 2024 to 2031

• The GCC Countries IoT Cloud Service market is projected to witness growth at a CAGR of 14.1% during the forecast period with a market size of USD 58.34 million in 2024. IoT Cloud Service sales flourish due to the increasing digitalization across industries.
• The Egypt IoT Cloud Service market is projected to witness growth at a CAGR of 13.6% during the forecast period with a market size of USD 14.31 million in 2024.
• The South Africa IoT Cloud Service market is projected to witness growth at a CAGR of 14.3% during the forecast period with a market size of USD 21.54 million in 2024. IoT Cloud Service sales flourish in the South Africa due to the increasing digitalization across industries.
• The Turkey IoT Cloud Service market is projected to witness growth at a CAGR of 12.8% during the forecast period with a market size of USD 11.72 million in 2024.
• The Nigeria IoT Cloud Service market is projected to witness growth at a CAGR of 12.4% during the forecast period with a market size of USD 14.31 million in 2024.
• The Rest of MEA IoT Cloud Service market is projected to witness growth at a CAGR of 12.3% during the forecast period with a market size of USD 16.08 million in 2024.

IoT Cloud Service Market Analysis

IoT Cloud Service Market Type Segment Analysis

According to Cognitive Market Research, the dominant category is Support and Maintenance. This segment encompasses services that ensure the smooth functioning of IoT systems post-deployment, including troubleshooting, updates, and enhancements. The dominance of Support and Maintenance is driven by the critical need for ongoing technical support and upkeep of IoT infrastructures, which are often complex and require specialized knowledge. As IoT deployments expand and become more integral to business operations, the demand for reliable support services is expected to grow, solidifying the dominance of this category in the market.

The fastest-growing category in the IoT Cloud Service Market is Managed Services. This category includes comprehensive outsourcing solutions for managing and maintaining IoT environments, offering benefits such as cost-efficiency, scalability, and access to specialized expertise. The rapid growth of Managed Services can be attributed to the increasing complexity of IoT deployments and the need for organizations to focus on their core competencies.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of IoT Cloud Service Industry. Request a Free Sample PDF!

IoT Cloud Service Market Deployment Type Segment Analysis

According to Cognitive Market Research, the dominant category is Public Cloud deployment. Public cloud services offer scalability, flexibility, and cost-effectiveness, making them highly attractive for IoT implementations. Organizations can leverage the public cloud to quickly deploy IoT solutions without the need for significant upfront investment in hardware or infrastructure. Additionally, public cloud providers offer a range of IoT-specific services and tools that simplify development and management, further driving the dominance of this deployment type in the market.

The fastest-growing category in the IoT Cloud Service Market is Hybrid deployment. Hybrid deployments offer the best of both worlds, combining the scalability and cost-effectiveness of the public cloud with the security and control of private cloud or on-premises infrastructure. This deployment model is gaining popularity as organizations seek to balance the benefits of cloud services with the need to maintain control over sensitive data or comply with regulatory requirements.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

IoT Cloud Service Application Segment Analysis

According to Cognitive Market Research, the dominant category is Smart Manufacturing. Smart Manufacturing involves the use of IoT devices and cloud services to optimize manufacturing processes, improve efficiency, and reduce costs. This category is dominant due to the significant benefits it offers to manufacturers, including real-time monitoring of equipment, predictive maintenance, and enhanced supply chain management. Smart Manufacturing enables manufacturers to increase productivity and quality while reducing downtime, making it a key focus area for IoT deployments in the manufacturing sector.

The fastest-growing category in the IoT Cloud Service Market is Connected Healthcare. Connected Healthcare involves the use of IoT devices and cloud services to improve patient care, streamline healthcare operations, and enhance patient outcomes. This category is experiencing rapid growth due to the increasing adoption of telemedicine, remote patient monitoring, and digital health solutions. Connected Healthcare enables healthcare providers to deliver more personalized and efficient care, leading to better patient outcomes and lower healthcare costs.

• Building and Home Automation
• Smart Manufacturing
• Smart Transportation
• Connected Healthcare
• Smart Retail
• Smart Grid and Utilities
• Others

IoT Cloud Service End-user Segment Analysis

According to Cognitive Market Research, the dominant category is retail. The retail sector has embraced IoT technologies to enhance the customer experience, optimize operations, and drive sales. IoT applications in retail include smart shelves, inventory management systems, and personalized marketing based on customer behavior. The dominance of the retail sector in IoT adoption is driven by the industry's need to stay competitive in a rapidly evolving market.

The fastest-growing category in the IoT Cloud Service Market is Healthcare. The healthcare industry is increasingly adopting IoT technologies to improve patient care, streamline operations, and reduce costs. IoT applications in healthcare include remote patient monitoring, smart medical devices, and asset tracking systems. The rapid growth of IoT in healthcare is driven by the industry's focus on improving patient outcomes, increasing efficiency, and reducing healthcare disparities.

• Automotive
• Retail
• Manufacturing
• Healthcare

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

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