PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1954929
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1954929
IoT Cloud Platform Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2026-2034
Growth Factors of IoT cloud platform Market
The global IoT cloud platform market size was valued at USD 22.04 billion in 2025 and is projected to grow from USD 27.27 billion in 2026 to USD 132.98 billion by 2034, exhibiting a robust CAGR of 21.90% during the forecast period (2026-2034). North America dominated the global market with a 35.81% share in 2025, supported by strong technological infrastructure and high IoT adoption.
An IoT cloud platform integrates IoT-enabled devices with cloud computing capabilities to collect, analyze, store, and process real-time data. These platforms serve as the backbone of IoT ecosystems, enabling seamless connectivity, automation, and analytics across industries. The increasing number of connected devices, rising demand for cloud-based data management, and rapid adoption of technologies such as 5G, AI, edge computing, and big data are key factors driving market expansion.
Market Trends
Rapid Adoption of Smart Connected Devices
The widespread deployment of smart connected devices across industries such as healthcare, manufacturing, logistics, and energy is significantly boosting demand for IoT cloud platforms. Industrial IoT (IIoT) solutions rely on connected sensors, machines, and analytics systems to optimize productivity and enable predictive maintenance.
For instance, nearly 47% of energy executives are adopting IoT technologies to monitor asset performance, enhance customer experience, and improve operational productivity. Manufacturing-intensive industries are also leading IoT adoption, with over 53% of IoT pioneers emerging from production-driven sectors such as manufacturing, oil & gas, life sciences, and utilities.
As the number of connected devices continues to grow globally, IoT cloud platforms are becoming essential for centralized management and real-time analytics.
Market Growth Drivers
Proliferation of IoT Devices and Advanced Technologies
The exponential rise in IoT-enabled devices is a primary driver of the market. Organizations require scalable cloud platforms to handle massive data volumes generated by smart devices. IoT cloud platforms integrate AI and machine learning capabilities to deliver actionable insights and support enhanced decision-making processes.
The rollout of 5G networks further strengthens IoT ecosystems by providing high-speed, low-latency connectivity. Additionally, edge computing integration reduces latency and enhances real-time processing efficiency. Industry 4.0 adoption across sectors such as manufacturing, healthcare, and transportation is further accelerating demand.
During the COVID-19 pandemic, industries rapidly embraced IoT solutions for remote monitoring, digital transformation, and operational continuity, creating long-term growth opportunities for cloud IoT platforms.
Restraining Factors
Lack of Standardization and Interoperability Issues
One of the key challenges facing the IoT cloud platform market is the lack of standardized IoT protocols. Different devices operate on varied communication standards, creating interoperability and compatibility challenges. This increases system complexity, management costs, and integration difficulties, potentially slowing adoption among enterprises.
Market Segmentation Analysis
By Service Type
Based on service type, the market is segmented into device management, application management, and data management.
Device management held the largest market share of 42.01% in 2026, driven by the rising number of connected devices across industries. Efficient device monitoring, updates, and lifecycle management are critical for large-scale IoT deployments.
Application management is projected to grow at the highest CAGR during the forecast period. Major platforms such as AWS IoT Core, Google Cloud IoT, Microsoft Azure IoT Suite, and IBM Watson IoT provide comprehensive tools for rapid IoT application development and deployment.
By Cloud Type
The market is categorized into public, private, and hybrid cloud.
The public cloud segment accounted for 62.62% of the market share in 2026 and is expected to grow at the fastest rate. Factors such as flexibility, scalability, and cost-effectiveness are driving adoption. Private cloud is also witnessing steady growth, particularly among enterprises requiring secure inter-business networks.
By End-User
The market serves industries including healthcare, IT & telecom, retail, manufacturing, automotive, transportation & logistics, energy & power, and BFSI.
Healthcare led the market with a 24.85% share in 2026, driven by wireless medical devices, real-time patient monitoring, and embedded sensor technologies. BFSI is expected to grow at the highest CAGR due to increasing financial fraud and rising demand for secure IoT-enabled solutions.
Regional Insights
North America
North America generated USD 7.89 billion in 2025 and is projected to reach USD 9.78 billion in 2026, maintaining dominance throughout the forecast period. Strong R&D investments and the presence of key players such as Google, AWS, IBM, Microsoft, and Cisco are major growth drivers.
Europe
Europe holds the second-largest market share, supported by increasing cloud adoption and industrial digitalization. The U.K. and Germany are key contributors to regional growth.
Asia Pacific
Asia Pacific is expected to register the fastest CAGR through 2034, fueled by rapid digital transformation and expanding connected ecosystems in China, Japan, and India.
South America and the Middle East & Africa are also witnessing growing adoption due to urbanization, industrial modernization, and demand for remote monitoring solutions.
Key Industry Players
Leading companies include Google LLC, Amazon Web Services, IBM Corporation, Cisco Systems, Oracle Corporation, Salesforce, PTC, ThingBoard, TagoIO, and Particle Industries. These players are focusing on partnerships, product launches, and AI-driven enhancements to strengthen market presence.
Conclusion
The IoT cloud platform market is set for substantial growth, expanding from USD 22.04 billion in 2025 to USD 132.98 billion by 2034, with USD 27.27 billion recorded in 2026 as early forecast acceleration. Strong adoption of connected devices, Industry 4.0 initiatives, AI integration, and 5G rollout are reshaping global IoT ecosystems. North America currently leads the market, while Asia Pacific is emerging as the fastest-growing region. With increasing enterprise reliance on real-time analytics, scalable infrastructure, and intelligent automation, IoT cloud platforms are expected to remain central to digital transformation strategies across industries during the 2026-2034 forecast period.
Segmentation By Service Type
- Application Management
- Device Management
- Data Management
By Cloud Type
- Private
- Public
- Hybrid
By End-User
- IT & Telecom
- Healthcare
- Retail and E-Commerce
- Manufacturing
- Transportation and Logistics
- Automotive
- Energy and Power
- Others
By Region
- North America (By Service Type, Cloud Type, End-User, and Country)
- U.S.
- Canada
- Mexico
- Europe (By Service Type, Cloud Type, End-User, and Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Benelux
- Nordics
- Rest of Europe
- Asia Pacific (By Service Type, Cloud Type, End-User, and Country)
- China
- Japan
- India
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
- Middle East & Africa (By Service Type, Cloud Type, End-User, and Country)
- Turkey
- Israel
- GCC
- South Africa
- North Africa
- Rest of the Middle East & Africa
- South America (By Service Type, Cloud Type, End-User, and Country)
- Brazil
- Argentina
- Rest of South America
Table of Content
1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
2. Executive Summary
3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global IoT Cloud Platform Key Players Market Share/Ranking, 2025
5. Global IoT Cloud Platform Market Size Estimates and Forecasts, By Segments, 2021-2034
- 5.1. Key Findings
- 5.2. By Service Type (USD)
- 5.2.1. Application Management
- 5.2.2. Device Management
- 5.2.3. Data Management
- 5.3. By Cloud Type (USD)
- 5.3.1. Public
- 5.3.2. Private
- 5.3.3. Hybrid
- 5.4. By End User (USD)
- 5.4.1. Healthcare
- 5.4.2. Retail and E-Commerce
- 5.4.3. Manufacturing
- 5.4.4. Transportation and Logistics
- 5.4.5. Automotive/Mobility
- 5.4.6. Energy and Power
- 5.4.7. Others
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. South America
- 5.5.3. Europe
- 5.5.4. Middle East & Africa
- 5.5.5. Asia Pacific
6. North America IoT Cloud Platform Market Size Estimates and Forecasts, By Segments, 2021-2034
- 6.1. Key Findings
- 6.2. By Service Type (USD)
- 6.2.1. Application Management
- 6.2.2. Device Management
- 6.2.3. Data Management
- 6.3. By Cloud Type (USD)
- 6.3.1. Public
- 6.3.2. Private
- 6.3.3. Hybrid
- 6.4. By End User (USD)
- 6.4.1. Healthcare
- 6.4.2. Retail and E-Commerce
- 6.4.3. Manufacturing
- 6.4.4. Transportation and Logistics
- 6.4.5. Automotive/Mobility
- 6.4.6. Energy and Power
- 6.4.7. Others
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.2. Canada
- 6.5.3. Mexico
7. South America IoT Cloud Platform Market Size Estimates and Forecasts, By Segments, 2021-2034
- 7.1. Key Findings
- 7.2. By Service Type (USD)
- 7.2.1. Application Management
- 7.2.2. Device Management
- 7.2.3. Data Management
- 7.3. By Cloud Type (USD)
- 7.3.1. Public
- 7.3.2. Private
- 7.3.3. Hybrid
- 7.4. By End User (USD)
- 7.4.1. Healthcare
- 7.4.2. Retail and E-Commerce
- 7.4.3. Manufacturing
- 7.4.4. Transportation and Logistics
- 7.4.5. Automotive/Mobility
- 7.4.6. Energy and Power
- 7.4.7. Others
- 7.5. By Country (USD)
- 7.5.1. Brazil
- 7.5.2. Argentina
- 7.5.3. Rest of South America
8. Europe IoT Cloud Platform Market Size Estimates and Forecasts, By Segments, 2021-2034
- 8.1. Key Findings
- 8.2. By Service Type (USD)
- 8.2.1. Application Management
- 8.2.2. Device Management
- 8.2.3. Data Management
- 8.3. By Cloud Type (USD)
- 8.3.1. Public
- 8.3.2. Private
- 8.3.3. Hybrid
- 8.4. By End User (USD)
- 8.4.1. Healthcare
- 8.4.2. Retail and E-Commerce
- 8.4.3. Manufacturing
- 8.4.4. Transportation and Logistics
- 8.4.5. Automotive/Mobility
- 8.4.6. Energy and Power
- 8.4.7. Others
- 8.5. By Country (USD)
- 8.5.1. United Kingdom
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Benelux
- 8.5.8. Nordics
- 8.5.9. Rest of Europe
9. Middle East & Africa IoT Cloud Platform Market Size Estimates and Forecasts, By Segments, 2021-2034
- 9.1. Key Findings
- 9.2. By Service Type (USD)
- 9.2.1. Application Management
- 9.2.2. Device Management
- 9.2.3. Data Management
- 9.3. By Cloud Type (USD)
- 9.3.1. Public
- 9.3.2. Private
- 9.3.3. Hybrid
- 9.4. By End User (USD)
- 9.4.1. Healthcare
- 9.4.2. Retail and E-Commerce
- 9.4.3. Manufacturing
- 9.4.4. Transportation and Logistics
- 9.4.5. Automotive/Mobility
- 9.4.6. Energy and Power
- 9.4.7. Others
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.2. Israel
- 9.5.3. GCC
- 9.5.4. North Africa
- 9.5.5. South Africa
- 9.5.6. Rest of MEA
10. Asia Pacific IoT Cloud Platform Market Size Estimates and Forecasts, By Segments, 2021-2034
- 10.1. Key Findings
- 10.2. By Service Type (USD)
- 10.2.1. Application Management
- 10.2.2. Device Management
- 10.2.3. Data Management
- 10.3. By Cloud Type (USD)
- 10.3.1. Public
- 10.3.2. Private
- 10.3.3. Hybrid
- 10.4. By End User (USD)
- 10.4.1. Healthcare
- 10.4.2. Retail and E-Commerce
- 10.4.3. Manufacturing
- 10.4.4. Transportation and Logistics
- 10.4.5. Automotive/Mobility
- 10.4.6. Energy and Power
- 10.4.7. Others
- 10.5. By Country (USD)
- 10.5.1. China
- 10.5.2. India
- 10.5.3. Japan
- 10.5.4. South Korea
- 10.5.5. ASEAN
- 10.5.6. Oceania
- 10.5.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Google LLC
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.1.1. Overview
- 11.2. AWS, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.2.1. Overview
- 11.3. IBM Corporation
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.3.1. Overview
- 11.4. Cisco Systems, Inc.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.4.1. Overview
- 11.5. Oracle Corporation
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.5.1. Overview
- 11.6. PTC
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.6.1. Overview
- 11.7. ThingBoard
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.7.1. Overview
- 11.8. TagoIO, Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.8.1. Overview
- 11.9. Salesforce, Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.9.1. Overview
- 11.10. Particle Industries, Inc.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 11.10.1. Overview
12. Key Takeaways
List of Tables
- Table 1: Global IoT Cloud Platform Market Size Estimates and Forecasts, 2021 - 2034
- Table 2: Global IoT Cloud Platform Market Size Estimates and Forecasts, By Service Type, 2021 - 2034
- Table 3: Global IoT Cloud Platform Market Size Estimates and Forecasts, By Cloud Type, 2021 - 2034
- Table 4: Global IoT Cloud Platform Market Size Estimates and Forecasts, By End User, 2021 - 2034
- Table 5: Global IoT Cloud Platform Market Size Estimates and Forecasts, By Region, 2021 - 2034
- Table 6: North America IoT Cloud Platform Market Size Estimates and Forecasts, 2021 - 2034
- Table 7: North America IoT Cloud Platform Market Size Estimates and Forecasts, By Service Type, 2021 - 2034
- Table 8: North America IoT Cloud Platform Market Size Estimates and Forecasts, By Cloud Type, 2021 - 2034
- Table 9: North America IoT Cloud Platform Market Size Estimates and Forecasts, By End User, 2021 - 2034
- Table 10: North America IoT Cloud Platform Market Size Estimates and Forecasts, By Country, 2021 - 2034
- Table 11: Europe IoT Cloud Platform Market Size Estimates and Forecasts, 2021 - 2034
- Table 12: Europe IoT Cloud Platform Market Size Estimates and Forecasts, By Service Type, 2021 - 2034
- Table 13: Europe IoT Cloud Platform Market Size Estimates and Forecasts, By Cloud Type, 2021 - 2034
- Table 14: Europe IoT Cloud Platform Market Size Estimates and Forecasts, By End User, 2021 - 2034
- Table 15: Europe IoT Cloud Platform Market Size Estimates and Forecasts, By Country, 2021 - 2034
- Table 16: Asia Pacific IoT Cloud Platform Market Size Estimates and Forecasts, 2021 - 2034
- Table 17: Asia Pacific IoT Cloud Platform Market Size Estimates and Forecasts, By Service Type, 2021 - 2034
- Table 18: Asia Pacific IoT Cloud Platform Market Size Estimates and Forecasts, By Cloud Type, 2021 - 2034
- Table 19: Asia Pacific IoT Cloud Platform Market Size Estimates and Forecasts, By Application, 2021 - 2034
- Table 20: Asia Pacific IoT Cloud Platform Market Size Estimates and Forecasts, By Country, 2021 - 2034
- Table 21: Middle East & Africa IoT Cloud Platform Market Size Estimates and Forecasts, 2021 - 2034
- Table 22: Middle East & Africa IoT Cloud Platform Market Size Estimates and Forecasts, By Service Type, 2021 - 2034
- Table 23: Middle East & Africa IoT Cloud Platform Market Size Estimates and Forecasts, By Cloud Type, 2021 - 2034
- Table 24: Middle East & Africa IoT Cloud Platform Market Size Estimates and Forecasts, By End User, 2021 - 2034
- Table 25: Middle East & Africa IoT Cloud Platform Market Size Estimates and Forecasts, By Country, 2021 - 2034
- Table 26: South America IoT Cloud Platform Market Size Estimates and Forecasts, 2021 - 2034
- Table 27: South America IoT Cloud Platform Market Size Estimates and Forecasts, By Service Type, 2021 - 2034
- Table 28: South America IoT Cloud Platform Market Size Estimates and Forecasts, By Cloud Type, 2021 - 2034
- Table 29: South America IoT Cloud Platform Market Size Estimates and Forecasts, By End User, 2021 - 2034
- Table 30: South America IoT Cloud Platform Market Size Estimates and Forecasts, By Country, 2021 - 2034
List of Figures
- Figure 1: Global IoT Cloud Platform Market Revenue Share (%), 2025 and 2034
- Figure 2: Global IoT Cloud Platform Market Revenue Share (%), By Service Type, 2025 and 2034
- Figure 3: Global IoT Cloud Platform Market Revenue Share (%), By Cloud Type, 2025 and 2034
- Figure 4: Global IoT Cloud Platform Market Revenue Share (%), By End User, 2025 and 2034
- Figure 5: Global IoT Cloud Platform Market Revenue Share (%), By Region, 2025 and 2034
- Figure 6: North America IoT Cloud Platform Market Revenue Share (%), 2025 and 2034
- Figure 7: North America IoT Cloud Platform Market Revenue Share (%), By Service Type, 2025 and 2034
- Figure 8: North America IoT Cloud Platform Market Revenue Share (%), By Cloud Type, 2025 and 2034
- Figure 9: North America IoT Cloud Platform Market Revenue Share (%), By End User, 2025 and 2034
- Figure 10: North America IoT Cloud Platform Market Revenue Share (%), By Country, 2025 and 2034
- Figure 11: Europe IoT Cloud Platform Market Revenue Share (%), 2025 and 2034
- Figure 12: Europe IoT Cloud Platform Market Revenue Share (%), By Service Type, 2025 and 2034
- Figure 13: Europe IoT Cloud Platform Market Revenue Share (%), By Cloud Type, 2025 and 2034
- Figure 14: Europe IoT Cloud Platform Market Revenue Share (%), By End User, 2025 and 2034
- Figure 15: Europe IoT Cloud Platform Market Revenue Share (%), By Country, 2025 and 2034
- Figure 16: Asia Pacific IoT Cloud Platform Market Revenue Share (%), 2025 and 2034
- Figure 17: Asia Pacific IoT Cloud Platform Market Revenue Share (%), By Service Type, 2025 and 2034
- Figure 18: Asia Pacific IoT Cloud Platform Market Revenue Share (%), By Cloud Type, 2025 and 2034
- Figure 19: Asia Pacific IoT Cloud Platform Market Revenue Share (%), By End User, 2025 and 2034
- Figure 20: Asia Pacific IoT Cloud Platform Market Revenue Share (%), By Country, 2025 and 2034
- Figure 21: Middle East & Africa IoT Cloud Platform Market Revenue Share (%), 2025 and 2034
- Figure 22: Middle East & Africa IoT Cloud Platform Market Revenue Share (%), By Service Type, 2025 and 2034
- Figure 23: Middle East & Africa IoT Cloud Platform Market Revenue Share (%), By Cloud Type, 2025 and 2034
- Figure 24: Middle East & Africa IoT Cloud Platform Market Revenue Share (%), By End User, 2025 and 2034
- Figure 25: Middle East & Africa IoT Cloud Platform Market Revenue Share (%), By Country, 2025 and 2034
- Figure 26: South America IoT Cloud Platform Market Revenue Share (%), 2025 and 2034
- Figure 27: South America IoT Cloud Platform Market Revenue Share (%), By Service Type, 2025 and 2034
- Figure 28: South America IoT Cloud Platform Market Revenue Share (%), By Cloud Type, 2025 and 2034
- Figure 29: South America IoT Cloud Platform Market Revenue Share (%), By End User, 2025 and 2034
- Figure 30: South America IoT Cloud Platform Market Revenue Share (%), By Country, 2025 and 2034
- Figure 31: Global IoT Cloud Platform Key Players' Market Share/Ranking (%), 2025
