The Internet of Things (IoT) is a system of interconnected devices dedicated to performing a single or a set of functions. And in recent years, thanks to major innovations in technology, the IoT market has grown significantly. Nowadays, IoT is being used across a wide range of industries, allowing complex functionalities through smart applications, devices, and systems such as smart lights, autonomous vehicles, smart televisions, smartphones, and wearables. As a result, IoT technology is pushing other industries to design systems with improved data storage, processing, and analyzing abilities to rapidly expand business operations. According to data provided by Allied Market Research the global IoT market size was valued at USD 740.47 Billion in 2020, and is projected to reach USD 4,421.62 Billion by 2030, while growing at a CAGR of 19.67% from 2021 to 2030. uCloudlink Group Inc. (NASDAQ: UCL), Tuya Inc. (NASDAQ: TUYA), Samsara Inc. (NYSE: IOT), Sierra Wireless, Inc. (NASDAQ: SWIR), Splunk Inc. (NASDAQ: SPLK)
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Some of the key macro factors for the IoT market size growth in the foreseeable future include maturing technologies such as AI, 5G, and cloud computing. Specifically, the cloud computing market has dramatically evolved in recent years. Generally, cloud computing technology was designed to help businesses and governments use remote servers hosted on the internet to store, manage, and process critical data. Over the last decade, however, the increasing volume of data generation in websites and mobile apps, as well as the rising focus on delivering customer-centric applications for driving customer satisfaction, and the growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) are just a few of the factors driving the growth of the emerging trends in cloud computing.
uCloudlink Group Inc. announced last week breaking news that it, “has formed a strategic partnership with Tuya Inc. (“Tuya”) (NYSE: TUYA), a global leading IoT cloud development platform, to initiate comprehensive technological cooperation in the field of Internet of Things (“IoT”). UCLOUDLINK and Tuya will leverage their respective technological advantages and make joint efforts into research and development in the IoT industry of cloud era.
‘We are excited to extend our partnership in the IoT industry by cooperating with Tuya. Empowered by UCLOUDLINK’s expertise in data connectivity services, Tuya’s smart products will benefit from UCLOUDLINK’s cloud SIM technology and hyper-connectivity solution to access reliable, better, and high-quality internet data connectivity services, helping users expedite the process of digital transformation and enabling them to enjoy the benefits provided by the enhanced IoT solutions,’ said Chaohui Chen, Director and CEO of UCLOUDLINK.
Mr. Chen continued, ‘The partnership will not only produce win-win outcomes but also go a long way in driving the innovation of IoT industry in the cloud era as a whole. UCLOUDLINK specializes in developing innovative IoT solutions empowering single entry point to access all available networks while reducing overall data connectivity services costs, and our solutions are widely applied in a variety of commercial scenarios including industry Wi-Fi router, IP Camera, Power, emergency services and Autopilot, etc.’
UCLOUDLINK continues to facilitate the acceleration of the cloud era of IoT through its PaaS and SaaS platform based on cloud SIM technology and hyper-connectivity solution. The possible surge in demand for IoT cloud services will create significant business growth opportunities for UCLOUDLINK. As the pioneer technology solution provider in the data connectivity sector, UCLOUDLINK will keep collaborating with more business partners worldwide to accelerate the development of IoT industry in the cloud era.”
Tuya Inc. (NASDAQ: TUYA) reported last month a new partnership using Cube Solution to launch value-added, cloud-based services and products in Indonesia. Using Tuya’s private IoT service deployment solution, Cube Solution, Telkom launched a consumer segment smart home service, IndiHome Smart, and a small and medium-business solution, sooltanCam. IndiHome Smart is Telkom’s smart home IoT system that enables users to integrate and control smart home devices anywhere by using their smartphone. Backed by Tuya Smart, IndiHome Smart is brand neutral, allowing popular Indonesian smart home brands, including Bardi, Hannochs, Den, and Arbit to be controlled from within the IndiHome Smart app. By integrating with Indonesian original equipment manufacturers (OEMs), Telkom is able to adopt an asset-light model to easily offer new services to clients across Indonesia.
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Samsara Inc. (NYSE: IOT) announced on June 29th, that the Samsara Connected Operations Cloud has been selected by Coach USA, Inc., one of the largest transportation companies in North America. As part of its focus on leading passenger transit through technology, Coach USA will deploy Samsara’s telematics solution and AI dash cams across its fleet of 1,500 vehicles to increase the safety, efficiency, and sustainability of its operations. Samsara is the pioneer of the Connected Operations Cloud, which allows businesses that depend on physical operations to harness IoT (Internet of Things) data to develop actionable business insights and improve their operations. “The safety of our customers and drivers is our top priority at Coach USA,” said Linda Burtwistle, CEO of Coach USA. “Working with Samsara will allow us to continue to elevate our safety standards by proactively monitoring speed, following distance, and distracted driving. The new system will also be a tremendous aide in our commitment to sustainability and eco-friendly travel.”
Sierra Wireless, Inc. (NASDAQ: SWIR), a world leading IoT solutions provider, announced on June 21st, that EarthCam, a leading provider of webcam content, technology and services, has selected Sierra Wireless’ AirLink® XR80 5G router for their world-first multi-network 5G camera system, the StreamCam 5G. “Sierra Wireless is an excellent partner, supporting EarthCam as we pioneer next-generation live-streaming cameras,” said Brian Cury, CEO and Founder of EarthCam. “5G is the future of webcam technology and it is becoming indispensable as clients require increasingly high quality video data, accessible from anywhere. Our collaboration with Sierra Wireless delivers efficient and powerful new solutions for entertainment, construction safety and AI analytics. With 5G and Sierra Wireless’ AirLink® XR80 router, we’re able to drastically cut file-transfer times for a full day of recordings from two hours to five minutes.”
Splunk Inc. (NASDAQ: SPLK) announced on June 14th, the next generation of the Splunk Platform. New enhancements to Splunk Cloud Platform and the general availability of Splunk Enterprise 9.0 empowers customers to make business decisions on full fidelity data, act faster on data insights, and customize how those insights are operationalized across their organization in the hybrid cloud. “Forward-thinking organizations demand full stack integration across business processes to unlock innovation, improve security and drive business resilience despite the complexity of technology environments,” said Garth Fort, Chief Product Officer, Splunk. “The latest innovations in the Splunk Platform enable customers to address the complexities of multi-cloud and hybrid environments, rapidly identify signals from noise, and turn data insights into business outcomes.”
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