IoT Operating System Market Overview
Internet of Things (IoT) operating systems are a form of embedded operating systems that transfer data through the internet using IoT devices. The data and information is collected and exchanged with the use of smart devices that consist of electronic devices, sensors and software. IoT operating systems improve the efficiency and quality of work with reduced human interference and decreased operating costs.
The market for IoT operating system is projected to grow at a CAGR of around 32% over the forecast period, i.e., 2019-2027. The market is estimated to reach a value of around USD 5,800 billion by the end of 2027. The high market value can be attributed to growing preference of connected devices, increased usage of advanced technology and rising adoption of portable devices all over the world.
Growth Highlights based on Region during 2019-2027
The global IoT operating system market is segmented by region into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. The market in North America is predicted to hold the largest share in the market and grow at the highest CAGR of around 35% over the forecast period. The North America market is anticipated to reach a market value of USD 3,500 billion by 2027. The IoT operating system market in Europe and Asia Pacific regions are predicted to follow the lead with significantly high growth of market values in the coming years.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
By Organization Size
On the basis of organization size, the global IoT operating systems market is segmented into small & medium enterprises and large enterprises, out of which, the segment for large enterprises is estimated to witness the highest growth rate over the forecast period. The segment is predicted to create substantial business growth opportunities in the future.
By Component
Based on component, the market is segmented into client side and server side, out of which, the client side segment is anticipated to grow at the highest rate during the forecast period with a CAGR of about 35%. This can be attributed to the growing market value for this segment which is predicted to further grow globally.
By Services
The global IoT operating system market is segmented on the basis of services into professional services, consulting services, deployment & integration services and maintenance & support. Out of these, the segment for professional services held the largest share with a market value of about USD 200 billion in 2019 and is estimated to continue to hold the largest share and grow at the highest rate over the forecast period. This segment is anticipated to be followed by the deployment & integration services which holds the second largest share in the market.
By Application
On the basis of application, the market is segmented into capillary networks management, smart building & home automation, smart utilities, vehicle telematics, smart healthcare, industrial manufacturing & automation and others. The segment for smart building & home automation is predicted to hold the largest share in the IoT operating systems market and grow with the highest CAGR of around 40% during the forecast period. Moreover, this segment is anticipated to present several opportunities in the business.
By Verticals
Based on verticals, IoT operating system market is segmented into industrial automation, consumer electronics, transportation & logistics, manufacturing, energy & utilities, medical & healthcare, IT & telecom and others, out of which, the segment for industrial automation is anticipated to hold the largest share in the market. On the other hand, the segment for IT & telecom is predicted to grow at the highest rate over the forecast period as a result of growing demand of IoT operating systems in the IT & telecom industry.
Market Drivers and Challenges
Growth Indicators
One of the major growth driving factors for the global IoT operating system market is the growing preference of portable devices and services that are connected with each other. Business operations become much easier as industries are increasingly adopting connected technology for interlinking various businesses. Moreover, the integration of IoT systems improves through IoT devices as the operating costs of the company decreases. The increasing digitalization and growing use of cloud computing are other additional factors that can be attributed to the market growth.
Barriers
The lack of maintenance of proper industrial standards related to the internet of things operating systems is predicted to show serious implications on the global IoT operating systems market all around the globe. A number of companies are concerned about the cloud platform and IoT operating systems that might hamper their privacy about technologies and the business operations. Growing cases of data thefts and data sharing is risky for businesses which are estimated to restrict the market growth.
Competitive Landscape
Some of the affluent industry leaders in the global IoT operating system market are ARM Limited, BlackBerry Limited, Canonical Ltd., Enea AB, Google LLC, Green Hills Software, Mentor Graphics,Microsoft Corporation, SYSGO, Wind River Systems and Huawei.
