IoT Cloud Platform Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to iot cloud platform market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

IoT Cloud Platform Market News

in IoT Cloud Platform Market
  • Synaptics and Google announced a joint venture in January 2025 to create Edge AI technologies for the Internet of Things (IoT). The joint venture plans to accelerate the development of AI devices that will be able to process numerous modalities, including vision, image, speech, and sound, by combining Synaptics' Astra technology with Google's machine learning core.
  • Google Cloud introduced more features to its BigQuery service in 2024 to facilitate quicker and more effective data handling. These features, which allow for real-time insights and decision-making, are especially useful for companies that must handle enormous amounts of data. In addition, Google Cloud promoted its AI-enabled solutions by providing companies with access to picture recognition tools and natural language tools.
  • Oracle and Google Cloud formed a strategic partnership in June 2024 that allows users to deploy Google Cloud technologies alongside Oracle Cloud Infrastructure. Through cross-cloud connectivity across numerous geographic regions, our collaboration seeks to simplify the modernization and migration processes.
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Global IoT Cloud Platform Market size was valued at USD 19.94 Billion in 2023 and is poised to grow from USD 22.85 Billion in 2024 to USD 67.98 Billion by 2032, growing at a CAGR of 14.6% in the forecast period (2025-2032).

Leading competitors such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud, IBM, Cisco Systems, and Siemens possess a substantial market share within the highly competitive IoT cloud platform market. Mergers and acquisitions, strategic partnerships, and investments in AI-driven IoT solutions are typical. Google Cloud focuses on IoT security enhancements through innovative encryption methods, whereas AWS and Microsoft are looking into the integration of edge computing with AI capabilities. Startups that provide tailored IoT solutions for individual industry use cases, such as Losant and Particle, differentiate themselves and drive industry innovation. 'Synaptics', 'Google', 'Oracle', 'Cisco Systems, Inc.', 'IBM', 'Microsoft', 'Salesforce, Inc.', 'PTC', 'GE DIGITAL', 'Particle Industries, Inc.', 'Bosch.IO GmbH', 'Alibaba Cloud', 'Telit', 'Siemens'

Increasing demand for cloud-based IoT platforms is being fueled by the increasing use of IoT-enabled smart devices in industries such as transportation, healthcare, and manufacturing. Industrial IoT is transforming production processes by enabling automation, real-time analytics, and predictive maintenance. Siemens, GE, and other companies are utilizing IoT cloud platforms to enhance operational efficiency and minimize downtime.

Integration of AI & ML to IoT Cloud Platforms: IoT cloud platforms are leveraging AI and machine learning to boost automation, decision-making, and predictive analytics. AI-powered IoT solutions enable firms to optimize energy consumption, identify anomalies in industrial machinery, and offer real-time insights for better operational efficiency. To drive automation capabilities further, Google Cloud and IBM are investing heavily in AI-powered IoT analytics.

How is North America Leading the Global IoT Cloud Platform Market?

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Global IoT Cloud Platform Market
IoT Cloud Platform Market

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