According to a new market research report by MarketsandMarkets (www.marketsandmarkets.com), the market size for the Internet of Things (IoT) operating system market will grow from $289.2 million in 2017 to $1,721.3 Million by 2022, at a compound annual growth rate (CAGR) of 42.9%.
The major forces driving the operating system market include the increasing traction for emergence of technologies, such as cloud computing and mobility, adds the research group. What’s more, adoption by the small and medium-sized Enterprises (SMEs) is populating the growth of the IoT operating systems. The reason being, SMEs always look for operating systems to focus on developing a systematic approach for organizations and becoming more proactive toward their business operations.
The client side architecture of IoT operating systems is designed to provide a consolidated view of the processed and analyzed data, according to MarketsandMarkets. The client side interface has the ability to discover the services provided by the server, which is also called as service discovery. Using the service discovery, users can choose a particular service from a sensor.
Smart building and home automation application is expected to hold the largest market share in the IoT operating systems market during the forecast period, says MarketsandMarkets. Building intelligence starts with monitoring and controlling information services, known as the smart building automation system. Automated processes make use of real-time IoT information from users, systems, and devices, to optimize resource efficiency, reduce costs and risks, and improve the visibility of operations.
Smart building IoT applications are readily available in the market today; moreover, equipment manufacturers are also ready to add value to IoT. With the availability of advanced operating systems for IoT devices, the automation technology is gaining traction in home automation solutions.
North America is expected to hold the largest market share and dominate the IoT operating systems market from 2017 to 2022, notes MarketsandMarkets. This region has the major dominance with sustainable and well-established economies, empowering the companies to strongly invest in R&D activities, thereby contributing to the development of modern technologies, adds the research group.
Smart digitalization across industry verticals, increasing adoption of smart connected devices, and technological advancements are fueling the growth of IoT operating systems market in North America. The global automotive carmakers and manufacturers, and their tier 1 suppliers in the region have adopted real-time operating system (RTOS) as a common virtualization platform, on which, they integrate the software complexity and reduce the number of Electronic Control Units (ECUs)
MarketsandMarkets says the major vendors in the IoT operating system market include Apple, Google, Microsoft, ESOL Co, Blackberry, ARM, Wittenstein, ENEA AB, Mentor Graphics Corporation, Green Hills Software, SysGo Ag, Wind River, Kaspersky lab, and Canonical.