Iot Operating Systems Market To Reach USD 6.7 Billion By 2027 | CAGR 42.1% — Forencis Research
Global IoT Operating Systems Market: Key Highlights
- According to the new market research report “IoT Operating Systems Market by Source (Open, Closed), by Services (Professional, Managed), by End Users (Consumer Electronics, IT & Telecommunication, Manufacturing, Healthcare, Construction, Energy & Utility, Transportation & Logistics, Media & Entertainment, and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America,) — Global Forecast (2019 to 2027)”, the global IoT operating systems market is estimated to reach USD 6.7 Billion by 2027 at a CAGR of around 42.1% during the review period.
- Growing adoption of IoT devices, demand for energy efficient IoT devices, culture of bringing own devices by the employees are few key factors among others driving the demand for IoT operating systems.
- However, security related concerns remains a major limiting factor for the growth of the IoT operating systems market.
Global IoT Operating Systems Market: Key Market Dynamics
- Growing demand for efficient IoT devices is expected to drive the market of IoT operating systems as the operating systems are made for energy efficient output and enhances the portability of the IoT devices.
- Bring Your Own Device (BYOD) culture is expected to drive the market as the organizations may require IoT friendly environment in their enterprise to favor BYOD trend.
- Combining emerging technologies such as artificial intelligence (AI) and big data with IoT is expected to rise the market in near future as the using machine learning to its uttermost potential for IoT may result in Intelligent IoT (I-IoT) and the unstructured data collected by IoT devices can be used efficiently using big data analytics.
- Concerns regarding data privacy and cyber-attacks is expected to hamper the growth of the market as the primary function of the operating systems is enabling data transferring through Internet, vulnerability to cyber-attacks increases due to absence of proper data security process.
Global IoT Operating Systems Market: Regional Overview
IoT operating systems market is predicted to show fastest growth in Asia-Pacific. Owing to the factors such as fast adoption of emerging technologies by the organizations, organizing various exhibitions and conferences for IoT related trends, working on regulatory framework to secure IoT network, notable growth can be projected in this region. In Australia, there is a nonprofit organization named IoT Alliance Australia, formed in order to promote adoption and innovation in the field of IoT.
The IoT operating systems market in the European region is expected to show significant growth in coming decades. The governing authorities in the region are taking notable measures for research and development in the field of IoT. Under European research and innovation programme, Horizon 2020, the EU will invest approximately USD 541 million for IoT related research. Moreover, in 2016, IoT European Platform Initiative (IoT-EPI) was launched by the EU, with aim of developing sustainable IoT ecosystem in Europe and promoting innovations in the domain of IoT.
Global IoT Operating Systems Market: Key Players Overview
- Apple Inc.:
Apple Inc. is an American global company engaged in the technological domain. The firm design, manufacture, and sell consumer electronics product such as computer and smartphones. The product portfolio comprises of Mac, iPad, iPhone, HomePod, Apple Music, Apple Arcade, and iCloud, among others. In 2019, at Apple Worldwide Developers Conference (WWDC), the company announced that there will be separate operating system for iPad named as iPadOS.
- Arm Limited:
Arm Limited is the UK-based multinational company deals in the software designing and semiconductors domain. The company provides various technological products, platforms, and support services to the customers. The company portfolio is segmented into products, technologies, partner ecosystem and support. Under the IoT product segment the firm offers Pelion IoT platform, Mbed OS, IoT SoC Solutions, and Kigen SIM solutions, among others. In 2019, the company announced Mbed OS Partner Governance model to ensure that new updates in the OS are as per the customer requirement.
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