Progress in cloud computing

Cloud platforms, the hardware and operating environments of web-based data centres, developed quickly over the past half-decade and now grow at a CAGR of 18 percent.7 

During that time, large technology providers contributed their data-storage capacity and computing power as crucial fuel for the growth of IoT applications, which helped create numerous sophisticated functionalities for security and analytics. These functionalities were aided by strategic, technical partners between providers of specialised services that further augmented the value of cloud computing. For instance, a provider of cloud infrastructure might partner with a supplier of analytics solutions. In that vein, advances such as mobile edge computing (which reduces network congestion and improves application performance) can make IoT solutions easier to implement and use.