IoT Cloud Service Market Insights Video

According to Cognitive Market Research, the global IoT Cloud Service market size is USD 6815.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 13.60% from 2024 to 2031.

• 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.
• Europe accounted for a share of over 30% of the global market size of USD 2044.56 million.
• Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1567.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031.
• 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.
• Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 136.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.10% from 2024 to 2031.
• The dominant category is retail. The retail sector has embraced IoT technologies to enhance the customer experience, optimize operations, and drive sales.