Open IoT Platform Market Overview:

The Open IoT Platform Market is a segment of the IIoT platform market that focuses on open-source software platforms. The global open (Internet of Things) platform market is estimated to reach up to USD 58.4 Billion by the year with a CAGR of 22%. The open IoT platform is a versatile and powerful tool for managing and leveraging the potential of the Internet of Things (IoT) devices.

Open-source platforms offer a number of advantages, including:

• Lower costs: Open-source platforms are typically free to use, which can be a major advantage for businesses with limited budgets.
  
  
• Greater flexibility: Open-source platforms can be customized to meet the specific needs of a business.
  
  
• Increased innovation: Open-source platforms benefit from the contributions of a large community of developers, which can lead to faster innovation and more feature-rich platforms.

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Some of the leading open-source IoT platforms include:

• Cisco Systems Inc. (US)
• Bosch Software Innovations GmbH (Germany)
• Siemens (Germany)
• Wipro Ltd. (India)
• Microsoft Corporation (US)
• Google Inc. (US)
• Oracle Corporation (US)
• com.Inc. (US)
• SAP SE (Germany)
• Huawei Technologies Co.Ltd.
• Intel Corporation (US)
• PTC Inc. (US)

The choice of open-source IoT platform depends on a number of factors, such as the specific needs of the business, the type of data that will be collected, and the technical expertise of the development team.

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In summary, open IoT platforms such as ThingsBoard, Mainflux, and Thinger.io provide essential tools for managing IoT devices, collecting and processing data, and visualizing insights. These platforms offer scalability, security, and flexibility, making them suitable for a wide range of IoT applications and use cases.

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