IoT involves extending Internet connectivity beyond standard devices, such as desktops, laptops, smartphones and tablets, to any range of traditionally dumb or non-internet-enabled physical devices and everyday objects. Embedded with technology, these devices can communicate and interact over the Internet, and they can be remotely monitored and controlled.
The number of IoT devices increased 31% year-over-year to 8.4 billion in the year 2017 and it is estimated that there will be 30 billion devices by 2020. The global market value of IoT is projected to reach $7.1 trillion by 2020.

Market Analysis and Insights: Global Open IoT Platform Market
The global Open IoT Platform market size is projected to reach US$ 52630 million by 2027, from US$ 10830 million in 2020, at a CAGR of 24.8% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Open IoT Platform market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Open IoT Platform market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Open IoT Platform market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Open IoT Platform market.

Global Open IoT Platform Scope and Market Size
Open IoT Platform market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Open IoT Platform market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Software
Hardware

Segment by Application
SMEs
Large Enterprises

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Amazon Web Services
IBM
Microsoft
Samsung
Bosch
Ayla Networks
Google
General Electric
Oracle