Exploring Internet of Things (IoT) cloud trends provides valuable insight into the extent to which organizations and consumers have embraced both of these technologies.
IoT Today
As Mordor Intelligence reports, the IoT market was valued at $1.1 trillion in 2020 and is expected to grow to $6 trillion by 2026, a compound annual growth rate (CAGR) of more than 32% between 2021 and 2026. These numbers come as no surprise when we consider that recent Microsoft research revealed that around 94% of companies would use some variety of IoT by the end of 2021.
Cloud Today
Cloud adoption, in general, has been on the rise as well. Gartner forecasts end-user spending on cloud services to reach nearly $400 billion by the end of 2021 and $482 billion by the end of 2022. Further, the research firm predicts, public cloud spending will grow to more than 45% of all enterprise IT spending — up from less than 17% in 2021.
While there are many factors at play affecting the adoption of both cloud and IoT technology, the link between the two is apparent. In order to derive value from the data being collected from IoT devices, increased access to fast, reliable connection speeds is a must. The cloud offers expanded reach, reduced latency over direct remote network connections, and increasingly, IoT-based services provided by third parties.
This article will take a look at some of the key trends shaping the IoT cloud landscape:
Continue reading: https://www.datamation.com/cloud/internet-of-things-iot-cloud-trends/
IoT Today
As Mordor Intelligence reports, the IoT market was valued at $1.1 trillion in 2020 and is expected to grow to $6 trillion by 2026, a compound annual growth rate (CAGR) of more than 32% between 2021 and 2026. These numbers come as no surprise when we consider that recent Microsoft research revealed that around 94% of companies would use some variety of IoT by the end of 2021.
Cloud Today
Cloud adoption, in general, has been on the rise as well. Gartner forecasts end-user spending on cloud services to reach nearly $400 billion by the end of 2021 and $482 billion by the end of 2022. Further, the research firm predicts, public cloud spending will grow to more than 45% of all enterprise IT spending — up from less than 17% in 2021.
While there are many factors at play affecting the adoption of both cloud and IoT technology, the link between the two is apparent. In order to derive value from the data being collected from IoT devices, increased access to fast, reliable connection speeds is a must. The cloud offers expanded reach, reduced latency over direct remote network connections, and increasingly, IoT-based services provided by third parties.
This article will take a look at some of the key trends shaping the IoT cloud landscape:
Continue reading: https://www.datamation.com/cloud/internet-of-things-iot-cloud-trends/
