IoT Cloud Platform Market Growth Opportunities Beyond 2020 No One Will Tell You

IoT Cloud Platform Market Growth Opportunities

Introduction to IoT Cloud Platform Market Growth

Decades ago we dreamed about living in the connected world, where the geographical separations didn’t matter. We wanted to bring the world closer, where people can cause an effect on each other’s lives and continue to stay in touch even when they are physically situated miles apart. This led to the phenomenon known as the Internet.

Today, as we know life seems impossible without the internet. We are using it to not just connect with our friends and family, but to conduct business and enable further technological advancements. We are closer than ever and can find all the answers that we’re looking for in one place.

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The Age of the Internet

The point is the idea of the connected world has been the biggest revolution in the history of mankind. We, as a dynamics 365 consultants, have not just served one purpose but opened the doors to so many other eCommerce businesses and organizations that have sparked innovation like no other. It’s like fire fueling more fire.

The progress of the Internet has been to the extent that we view it as any physical person or entity today. We ask it questions like we ask each other, and even better because the Internet has the kind of data no man can ever store in their memory. In fact, it has several things that seem impossible to exist in a physical environment.

But, here we are today, making the most of the Internet and believing in things that don’t exist in our physical realities. The biggest example of this is the businesses that have emerged on the Internet.

The entire process of digitization involves presenting more entities over the Internet and creating some kind of digital token to access them. All this, that are just fragments of code, have surrounded our existence.

Many new technologies are emerging and taking the world by storm only because of the Internet. One such technology is the Internet of Things. After all, who would have thought that our dream of connecting people would also someday apply to devices that we have only created?

IoT and Cloud: The New Partners

So, this means that when your fridge runs out of milk and supplies, it can automatically place an order online on Amazon and save you time.

This is just one example, we are talking about a connection of all smart devices that are powered by the Internet. These devices are helping create a network on the planet where the instructions will be self-guided and learned by observing the nature of variables in the physical environment.

For example, your thermostat will be able to adjust the temperatures when you’re in the room or when you’re about to arrive at your house.

This on one hand will optimize electricity requirements, creating a balance between conservation and fulfilling the needs of a person. These devices, on the other hand, will work as per needs and provide you with the desirable functions.

The idea is to create a smart network that hosts a bunch of devices that will perform its specified function. While such a network will need the information to act upon, it will also lead to a lot of data. The more devices a network encompasses, the more will be the data in the network.

Organizations that are creating IoT solutions will want to make use of all this data. And that is because it will help them design better products and understand customers so that better experiences can be designed for them.

The point is to generate smart devices that can learn from their surroundings and improve a customer’s experience based on that. While it might sound unbelievable but achievable with the latest technologies such as machine learning and artificial intelligence.

However, the biggest role in this is that of the cloud.  The entire data generated by the bunch of interconnected devices over the Internet of Things will be stored, managed, and manipulated over the cloud.

After all, there is nothing else that can support an ever-expanding bank of user data. Statistics suggest that the global IoT in the cloud platform will skyrocket to an astonishing $14 billion by the year 2027.

These figures are despite the outbreak of the pandemic, which has slowed down everything in the technological realm as we know it. But, COVD-19 has also shown us a picture that people are ready to embrace cutting edge technologies over the Internet or those that are digitally powered. Therefore, people are adopting IoT technologies that are also enabling them to work from home more seamlessly.

Even in the healthcare and communications sector, government and private organizations are adopting new technologies such as IoT based cloud surveillance systems to monitor the activities of people in containment or red zones. Moreover, the patients who are not able to go out for healthcare facilities due to the pandemic are receiving remote care as their vitals get monitored through IoT powered devices.

Since existing operators are working to make the telecommunications industry more robust and fast, the same is expected to power IoT devices. In other words, IoT will help businesses leverage the Internet with fast services that have low latency. Not only will this boost the IoT market directly but also the scenario of cloud platforms that help tap into the potentials of the Internet of Things.

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