IoT OS market size $1900 mn globally by 2028 at 24% CAGR

The IoT Operating Systems Market is majorly driven by aspects such as extracting insights for decision-making through real-time analysis of the key business operations including sales, manufacturing, and distribution trends

According to Verified Market Research, the Global IoT Operating Systems Market size was valued at USD 400 Million in 2020 and is projected to reach USD 1900 Million by 2028, growing at a CAGR of 24% from 2021 to 2028.

Global IoT operating systems market overview
Internet of Things (IoT) operating system is a form of an embedded operating system that transfers data through the internet using IoT devices. The data and information are collected and exchanged with the use of smart devices that consist of electronic devices, sensors, and software. IoT operating systems tend to improve the efficiency and quality of work with reduced human interference and decreased operating costs. The need for wireless networking technologies is the macroeconomic indicator, which may cause a surge in market growth.

With the Internet of Things (IoT) are being developed by market players and becoming increasingly connected via wireless connections, a Wireless Personal Area Network (WPAN) is created to allow multi-vendor interoperations. Wireless networks attend to the unique requirements of smaller vertical markets and various niche applications to provide the benefits of interoperability through standardization. Each standard criteria of a wireless network consist of specific characteristics arranged and optimized to serve specific IoT applications.

The dawn of cloud data management in large-scale IoT applications will accelerate market growth. Due to cloud computing, there is no further need for individual organizations to organize extensive hardware, construct management networks, and workflow development in IoT. The advantages offered by cloud services are providing lifecycle management, where Cloud had introduced the IoT remote device lifecycle management and plays a crucial role to enable a 360-degree data view of the device infrastructure. The enterprises can move the applications through the cloud and the node to support the claims.

The restraints incurred are the shortage of interoperability issues, the dearth of skilled expertise, risks of cybersecurity resulting in confidential data that can be hacked. The main challenges faced are the issues in bandwidth network and data migration from legal systems. The COVID-19 pandemic is driving the overall enhancement of digitalization, automation, IoT, and Artificial Intelligence in the automobile industry in post COVID era to improve flexibility to future pandemics.

Key developments
On September 2020, At the Intel Industrial Summit 2020, Intel introduced IoT-enhanced processors, the 11th Gen Intel Core processors. The processor is enhanced specifically for essential internet of things applications that require high-speed processing, computer vision, and low latency deterministic computing.
On May 2019, SAP announced a collaboration between Amazon Web Services (AWS) and the SAP Leonardo Internet of Things (IoT) portfolio regarding the general availability of cloud-to-cloud interoperability

CT Bureau