Global Internet of Things (IoT) Cloud Platform Market to Reach $24.9 Billion by 2030
The global market for Internet of Things (IoT) Cloud Platform estimated at US$11.3 Billion in the year 2023, is expected to reach US$24.9 Billion by 2030, growing at a CAGR of 11.9% over the period 2023-2030. IoT Cloud Platform, one of the segments analyzed in the report, is expected to record 11.7% CAGR and reach US$16.2 Billion by the end of the analysis period. Growth in the IoT Cloud Services segment is estimated at 12.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.4 Billion, While China is Forecast to Grow at 11.3% CAGR
The Internet of Things (IoT) Cloud Platform market in the U.S. is estimated at US$3.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2030 trailing a CAGR of 11.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.4% and 10% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR.
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