Internet of Things (IoT) Cloud Platform Market Report 2025

The internet of things (IoT) cloud platform market size has grown rapidly in recent years. It will grow from $24.55 billion in 2024 to $29.17 billion in 2025 at a compound annual growth rate (CAGR) of 18.8%. Growth during the historic period is attributed to the rising adoption of connected devices, increasing demand for real-time data processing, growing investment in cloud computing infrastructure, expanding industrial automation, and the development of smart city initiatives.

The internet of things (IoT) cloud platform market size is expected to see rapid growth in the next few years. It will grow to $57.49 billion in 2029 at a compound annual growth rate (CAGR) of 18.5%. Growth in the forecast period is driven by the increasing integration of edge computing with cloud platforms, a stronger focus on data security and privacy, expansion of 5G networks that enable faster connectivity, rising use of artificial intelligence for predictive analytics, and greater adoption of hybrid and multi-cloud strategies. Key trends include AI-driven analytics and automation, improved edge-cloud orchestration, use of blockchain for secure IoT transactions, and the development of digital twins for real-time asset monitoring.

Rising industrial automation is expected to drive growth in the Internet of Things (IoT) cloud platform market moving forward. Industrial automation involves using technologies like robotics and control systems to perform processes with minimal human involvement, enhancing efficiency, accuracy, and productivity. The increased adoption of automation stems from businesses seeking to boost operational efficiency, reduce costs, minimize errors, and increase productivity. IoT cloud platforms support industrial automation by connecting machines, sensors, and devices to centralized cloud systems, enabling real-time data monitoring, process optimization, and predictive maintenance that improve efficiency and reduce downtime. For example, in 2023, there were 4,281,585 robotic units operating globally in factories - a 10% increase over 2022, according to the International Federation of Robotics.

Leading companies in the IoT cloud platform market are focusing on developing advanced solutions like cloud-based industrial IoT systems to improve real-time data collection, operational efficiency, and seamless device connectivity in industrial settings. These solutions connect industrial devices and sensors to cloud platforms, facilitating process optimization and predictive maintenance. For instance, Qualcomm Inc. launched the Qualcomm Aware Platform in February 2023, a cloud-based industrial IoT solution that provides enterprises with real-time visibility and operational efficiencies across sectors like supply chain, manufacturing, and utilities. The platform offers an API-first customizable cloud framework integrating with enterprise software such as Microsoft Dynamics 365, combining Qualcomm’s IoT hardware, connectivity, sensor fusion, accurate location services, and secure device-to-cloud communication for seamless asset tracking and management.

In March 2025, Qualcomm further strengthened its AI and IoT capabilities by acquiring Edge Impulse Inc., a company that provides a cloud platform for IoT and edge AI, enabling machine learning deployment and management on connected devices. This acquisition aims to accelerate IoT transformation and empower developers and enterprises to build, deploy, and optimize AI-powered solutions on edge devices across various industries.

Major players in the internet of things (iot) cloud platform market are Google LLC, Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Robert Bosch GmbH, Dell Technologies Inc., Amazon Web Services Inc., Siemens AG, International Business Machines Corporation, Cisco Systems Inc., Intel Corporation, General Electric Company, Oracle Corporation, Vodafone Group Plc, Schneider Electric SE, Honeywell International Inc., SAP SE, Salesforce Inc., Telefonaktiebolaget LM Ericsson, Microchip Technology Incorporated, Hitachi Vantara LLC, PTC Inc., and Software AG.

North America was the largest region in the internet of things (IoT) cloud platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in internet of things (IoT) cloud platform report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the internet of things (IoT) cloud platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the information technology sector, particularly in hardware manufacturing, data infrastructure, and software deployment. Higher duties on imported semiconductors, circuit boards, and networking equipment have raised production and operational costs for tech firms, cloud service providers, and data centers. Companies relying on globally sourced components for laptops, servers, and consumer electronics are facing longer lead times and increased pricing pressures. In parallel, tariffs on specialized software tools and retaliatory measures from key international markets have disrupted global IT supply chains and reduced overseas demand for U.S.-developed technologies. To navigate these challenges, the sector is accelerating investments in domestic chip fabrication, diversifying supplier bases, and adopting AI-driven automation to enhance operational resilience and cost efficiency.

An Internet of Things (IoT) cloud platform is a centralized software infrastructure designed to connect, manage, and analyze data from IoT devices via the internet. Its main function is to facilitate seamless device integration, enable real-time data collection, storage, and processing, and support analytics, automation, and remote management of connected devices.

The primary offerings within IoT cloud platforms include platforms and services. A platform serves as the foundational system or environment that provides the necessary infrastructure, tools, and frameworks for building, deploying, and managing applications, devices, or services. These platforms can be deployed using public cloud, private cloud, or hybrid cloud models and cater to organizations of various sizes, including small and medium enterprises as well as large enterprises. Key applications span areas such as building and home automation, smart manufacturing, smart transportation, connected healthcare, smart retail, smart grids, and more.

The internet of things (IoT) cloud platform market research report is one of a series of new reports that provides internet of things (IoT) cloud platform market statistics, including internet of things (IoT) cloud platform industry global market size, regional shares, competitors with an internet of things (IoT) cloud platform market share, detailed internet of things (IoT) cloud platform market segments, market trends and opportunities, and any further data you may need to thrive in the internet of things (IoT) cloud platform industry. This internet of things (IoT) cloud platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The internet of things (IoT) cloud platform market includes revenues earned by entities through device connectivity management, data collection and storage, real-time analytics, and edge computing support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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