Vendors in the Internet of Things (IoT) operating system market will benefit from the penetration of IoT in healthcare, according to new findings from Transparency Market Research (TMR).
The willingness to respond in real time that meets the special characteristics of IoT is a key element for expanding avenues in the IoT operating system market, says TMR.
Although a wide range of open source operating systems and databases have gained ground in recent years, the interest of IoT developers in Linux is remarkable, according to TMR. The interest of tech companies in unveiling variants of FreeRTOS is a case in point.
The IoT operating systems market is witnessing the penetration of Linux into smart retail, smart logistics, smart healthcare, smart buildings, and smart manufacturing applications.
Against the backdrop of the impacts caused by the COVID-19 pandemic, the rise in adoption of IoT in the healthcare sector has accelerated.
This made the end-use industry a high value-added avenue during the forecast period.
Global IoT operating systems were worth US $ 635 million in 2019. With a robust CAGR of 38% from 2020 to 2030, valuation is expected to climb to US $ 20 billion by the end of 2030.
Key Findings on TMR IoT Operating Systems Market:
- Among the different types of components, the device held the largest share of revenue in 2019
- Professional Services Segment Expected to Grow at First CAGR in 2020-2030
- Support and Maintenance segment is expected to generate a high CAGR during the evaluation period
- Of all application segments, smart healthcare segment is expected to register the dominant CAGR between 2020 and 2030
- Among various types of business, large scale contributed major revenue share in the global IoT operating systems market in 2019
Key factors and promising avenues:
According to TMR, the driving force behind the IoT operating systems market is largely driven by the growing demand for IoT solutions in various industries. Some of the key growth trends and dynamics shaping market contours are:
- Remarkable advancements in the IoT space for smart applications across many industries extend business propositions into IoT operating systems.
- The advent of open source databases has raised the ante for leading technology companies looking to consolidate their position in the market.
- The rise of IoT applications in the healthcare sector has raised the horizon for market players in recent years.
- In recent months, changing demand for healthcare services in the wake of COVID-19 has also opened up prospects in the IoT operating systems market.
- The growing number of connected platforms in telehealth consultations, robotic assistance, digital diagnostics and remote patient monitoring are driving the growth of the market.
- The growing adoption of connected health devices that are becoming a crucial part of patient-centered care reinforces the creation of new perspectives.
- Rising investments in smart cities on smart sensors and biochips are driving the market for IoT operating systems.
- The growing popularity of Linux-based IoT operating systems has widened the path to capitalization for technology companies in the IoT operating systems market.
- The growing adoption of cloud computing solutions in the manufacturing sector is driving the opportunities in the market.
- The growing use of smart objects is driving the expansion of the IoT operating systems market.
Regionally, North America is expected to dominate the global market and maintain its lead throughout the forecast period. Advances in the IoT space have supported the rapid growth of the regional market.
Asia-Pacific is a rapidly emerging market, and its growth is driven by the increasing penetration of cloud solutions in various industrial fields. The regional market is expected to register a CAGR of 42.3% during the forecast period.
Finally, according to TMR, some of the key players in the IoT operating systems market are Microsoft, Kaspersky Lab, Green Hills Software, Google, eSol, Canonical Group, Blackberry and Apple.