Projections published by Verified Market Research show that the global IoT market will grow at a CAGR of about 25% by 2026, and the global cloud database market will grow by nearly 63% per year.
The Internet of Things generates large amounts of data by placing a heavy load on the Internet and using limited memory resources. Cloud computing, in turn, is designed specifically for Big Data management, having unlimited memory resources. And virtual machines simulate real hardware or its components, eliminating the need to use hardware.
Therefore, companies from the IoT segment are now increasingly looking for innovative ways to integrate cloud technology into IoT devices to ensure their smooth operation. The integration of technologies leads to a synergistic effect and gives a lot of benefits to the business:
• The dependence of IoT devices on the use of physical infrastructure is pushed aside due to the high power of remote processing of cloud computing;
• Clouds provide better communication between devices, as they serve as intermediaries that optimize their interaction;
• The cloud model allows you to pay only for consumed resources and provides a ready-to-use service, reducing the barrier to entry at the stage of business digitalization;
• Clouds cover the resource-demand for the amount of memory of IoT users due to flexible scalability;
• Security of IoT devices and platforms is ensured by the ability to instantly deliver updates to security tools;
• Cloud computing is driving the growing role of analytics and monitoring of IoT devices
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