Vendors in the Internet of Things (IoT) operating system market will benefit from the penetration of IoT into the healthcare sector, according to new findings from Transparency Market Research (TMR).
According to TMR, the driving force for real-time response that meets the special characteristics of IoT is an important foundation for expanding the path of the IoT operating system market.
According to TMR, various operating systems and open source databases have been the focus of attention in recent years, but the interest of IoT developers in Linux is remarkable. The interest of technology companies in announcing variants of FreeRTOS is a good example.
The IoT operating system market is witnessing the penetration of Linux into smart retail, smart logistics, smart healthcare, smart building, and smart manufacturing applications.
Against the backdrop of the COVID-19 pandemic, IoT adoption in the healthcare industry is gaining momentum.
This has made the end-use industry a valuable tool during the forecast period.
The global IoT operating system was $ 635 million in 2019. With a robust CAGR of 38% from 2020 to 2030, the valuation is expected to rise to US $ 20 billion by the end of 2030.
Key findings from the TMR on the IoT operating system market:
- Of the various component types, the device held a significant revenue share in 2019
- The Professional Services segment is expected to rise at a major CAGR between 2020 and 2030
- The support and maintenance segment is expected to achieve a high CAGR during the evaluation period
- Of all application segments, the smart healthcare segment is expected to record a dominant CAGR between 2020 and 2030.
- Larger of the various enterprise types contributed to a significant revenue share in the global IoT operating system market in 2019
Key drivers and promising means:
According to TMR, the driving force of the IoT operating system market is heavily dependent on the rapidly growing demand for IoT solutions in various industries. Some of the key trends and growth dynamics that shape the market are:
- Remarkable advances in the IoT space for smart applications in many industries are expanding business proposals for IoT operating systems.
- The advent of open source databases is a precursor to prominent technology companies seeking to establish their position in the market.
- The rise of healthcare IoT applications has broadened the horizons of market participants over the past few years.
- The changing demand for healthcare services triggered by COVID-19 in recent months has also raised the outlook for the IoT operating system market.
- The increasing number of connected platforms in telemedicine counseling, robot assistance, digital diagnostics, and remote patient monitoring is spurring market growth.
- Increasing adoption of connected health devices, which are becoming an important part of patient-centric care, is driving the creation of new perspectives.
- Increasing investment in smart cities for smart sensors and biochips is driving the IoT operating system market.
- The growing popularity of Linux-based IoT operating systems is paving the way for technology companies in the IoT operating system market to capitalize.
- Increasing adoption of cloud computing solutions in the manufacturing industry is spurring market opportunities.
- Increasing use of smart objects is driving the expansion of the IoT operating system market.
In terms of region, North America is expected to lead the global market and maintain that lead throughout the forecast period. Advances in the IoT space have supported the rapid growth of regional markets.
The Asia Pacific region is a rapidly emerging market, and its growth depends on the increasing penetration of cloud-based solutions in a variety of industries. The regional market is expected to record a CAGR of 42.3% during the forecast period.
Finally, according to TMR, the major players in the IoT operating system market are Microsoft, Kaspersky Lab, Green Hills Software, Google, eSol, Canonical Group, Blackberry and Apple.
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