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10+ Best IoT Cloud Platforms in 2024

Ivan Muts
January 15, 2024
10 mins to read

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    The global IoT market is gaining momentum. According to MarketsandMarkets forecasts, the global Internet of Things market size is expected to reach USD 650.5 billion by 2026. We can’t underestimate the Internet of Things impact on enterprise connectivity and exponential revenue growth. The Business Insider claims that by 2027, the IoT market will grow to over $2,4 trillion annually.

    And since we talk about statistics it is worth noting Statista’s predictions as well: the global market for IoT end-user solutions is expected to grow around 1.6 trillion by 2025.

    With those statistics in mind, you can now imagine the booming demand for IoT among businesses that are seeking custom IoT development services for their IT projects. So what is an IoT cloud platform and why do you need one? We’ll cover this, the best IoT cloud platforms for 2024 and we’ll look over IoT software development challenges to understand why IoT cloud platforms actually matter.

    What is an IoT platform?

    A middleware that manages all the interactions between users’ applications and remote devices. Generally speaking, IoT platforms perform various operations in terms of management and automation of connected devices:

    Now it’s time to tell you about IoT platforms and how they can optimize all the processes and mitigate risks.

    With ready-made features and a reusable technology stack, IoT cloud platforms can immensely reduce development time.

    IoT platform architecture

    The IoT system consists of hardware (devices, sensors, beacons, etc.), connectivity protocols (in other words IoT networks) that transmit data to and from middleware (IoT cloud platform), and application(s). The IoT platform acts as a mediator between the hardware and application layers. The main components, or better to say, functions of an IoT cloud platform are data storage and processing, connectivity and device management, analytics, and data visualization. Based on such IoT Cloud platforms, IoT solutions can be created that collect and analyze vast amounts of data, such as this IoT app that helps to stay fit.

    iot platform architecture explained

    Overview of 11 best IoT cloud platforms

    What is the best cloud platform for your IoT project in 2024? Here are IoT platforms compared at a glance:

    (communication protocols)
    Key offering and its main functionTop use cases
    Amazon Web Services IoT
    AWS IoT Core
    Rules engine
    Development environment
    Smart city
    Connected home
    Microsoft Azure IoTMQTT
    both over WebSockets
    Azure IoT Hub
    Device monitoring
    Device management
    IoT Edge
    Oracle IoT Intelligent ApplicationsHTTP
    Oracle IoT Cloud Service
    Asset monitoring
    Data analysis
    Data integration
    Smart manufacturing
    Predictive maintenance
    Connected logistics
    ThingsBoard Open-Source IoT PlatformMQTT
    ThingsBoard Community Edition
    Data collection
    Device management
    Smart metering
    Smart energy
    Smart farming
    Fleet tracking
    HVAC Systems
    Smart Energy Equipment
    Industrial Equipment
    Emissions Monitoring
    Light Electric Vehicles
    IRI VoracityMQTTData Discovery
    Data Integration
    Data Migration
    Data governance
    Data analysis
    Kaa EnterpriseHTTP
    Configuration management
    Command execution
    Data collection
    Data management
    Hardware integrations
    Smart City
    Smart Energy
    Baby Tech
    Smart Retail
    Sport & Fitness
    ThingWorx IIoTAlwaysOn (HTTP, WebSocket)
    Device Connectivity
    Data Ingestion and Aggregation
    Visualization and Dashboarding
    Analytics and Insights
    Remote Monitoring and Control
    Integration with Enterprise Systems
    Digital Twins
    Siemens Cloud Connect / Insights HubOPC Unified Architecture
    Energy and Utilities
    Bosch IoT SuiteHTTP
    Fully managed, shared cloud service
    High availability & reliability
    Open & flexible
    Smart homes & buildings
    BlynkNeither HTTP nor MQTTAccess Controls/Permissions
    Activity Dashboard
    Activity Tracking
    Asset Tracking
    Configuration Management
    Connectivity Management
    Data Import/Export
    Smart Home
    Smart Cities

    So your IoT project has plenty of smart devices that need to be connected and the data obtained has to be placed, stored, and processed. We mentioned earlier that in-house deployment isn’t practical and cost-effective in comparison with IoT cloud platforms that are equipped with ready-to-use features and functionality that you can find useful and suitable for your project.

    There are multiple IoT cloud platforms available; we will go through the main ones, the leaders in the market. Which one to choose? It depends on your requirements and the platform’s advantages and disadvantages. Welcome to the IoT cloud platforms comparison.

    1. Amazon Web Services IoT Platform

    aws iot cloud platform

    Amazon provides an extensive package of cloud IoT services where the core advantages are proven and scalable infrastructure supporting billions of devices and trillions of messages. Users can use the Amazon IoT platform for different purposes: industrial, consumer, and commercial.


    AWS IoT Core allows secure and easy connections between devices and their interaction with cloud applications. Supporting billions of devices IoT Core can process messages and help keep track of all devices without the need to manage any infrastructure.

    AWS IoT Device Management simplifies the organization and monitoring of a large fleet of devices securely and on a scale with the ability to troubleshoot device functionality.

    AWS IoT Device Defender uses security best practices to control device authentication and authorization, ensure device identity, and encrypt its data.

    With the FreeRTOS operating system for microcontrollers, you can control and manage your small, low-power edge devices and connect them to other AWS cloud services or locally to other devices.

    AWS IoT Greengrass helps local storage, synchronization, and management of connected devices with ML capabilities.

    AWS IoT Analytics allows automatic analysis of a large amount of data from different device types for more sophisticated and accurate insights and ML use cases.

    The full in-depth descriptions of all the services you can find here.

    Pricing: There are no minimum fees, the billing process depends on messages sent and received. The more messages, the cheaper the plan. A free trial is available for 12 months and allows 2,250,000 minutes of connection and 500,000 messages. There’s also a calculator available on the AWS website.

    2. ThingsBoard Open-source IoT Platform

    ThingsBoard iot cloud platform

    ThingsBoard is an IoT cloud platform for device management, data collection, processing, and visualization for IoT projects.


    Furthermore, ThinkBoard offers training sessions and support packages. Here you can get more profound info.

    Pricing: Subscription plans start at 10$ per month for up to 30 devices and 30 assets, and there are 5 plans to choose from. All these plans include unlimited customers, dashboards, integrations, API calls, data points, and messages.

    3. Microsoft Azure IoT

    Azure iot cloud platform

    With Microsoft Azure IoT solutions, you get a pre-customized workflow or can create the one tailored to your business needs. Microsoft Azure IoT Suite is versatile and comprises a variety of features covering every aspect of IoT design and development – from connecting devices to delivering insights to decision-makers. One of its strongest advantages is the focus on security.

    Services and features:

    Use cases:

    Pricing: Depending on the specifics and features, each Azure IoT service has a different pricing model. There are two tiers – basic and standard, and the price within each depends on the number of messages exchanged per day. A free tier allows up to 8,000 messages per day. The pricing calculator is here.

    4. Oracle IoT Intelligent Applications

    Oracle iot cloud platform

    Oracle is a global software corporation recognized as a leader in database management. Moreover, Oracle has large-scale IoT ecosystems with advanced protective mechanisms that differentiate it from other players on the market.

    Supporting extremely extensive databases, Oracle offers exceptional business-oriented opportunities for IoT systems across industries.

    Since not all devices and gadgets have security features built-in, it is of high priority to protect the IoT frameworks from outer risks. In the age of data breaches and cybercrimes, the utilization of advanced centralized security tools is a must-do. The capabilities of Oracle IoT systems are extremely reliable which makes them exclusive.


    Pricing: Oracle price sheet is calculated per device and per month with a fixed number of messages. If the number is bigger, you will have to pay the additional costs.

    5. Particle

    Particle iot cloud platform

    Particle is a platform created to support IoT products. It assists businesses in powering their devices to the cloud. The three main ingredients that make up a platform and make it effective are the Particle Photon, responsible for hardware, the Integrated Development Environment (IDE) that ensures proper work of software, and the Particle Cloud, for the Internet.

    With the smooth work of three components, IoT businesses manage to get their products to the market faster by speeding up prototyping and scaling. Particle platform is not constrained to one industry.


    Pricing: Particle offers a free package that includes a comprehensive IoT kit. Such a subscription comes without a time limit and with a generous cellular data plan. Other options envisage the purchase of “blocks” of service that cost from $299 per one. For those interested in operating more than 1000 devices, an Enterprise plan is recommended. Its price is provided upon request.

    6. IRI Voracity

    IRI iot cloud platform

    IRI Voracity serves as a tool for managing big data. It allows full control and multiple manipulations with data that businesses run daily. The main effort is focused on the collection, sorting, analyzing of information and turning it into a valuable asset.


    Use Cases:

    Pricing: IRI Voracity pricing is based on the number of hostnames running its executable to process data. Subscriptions and discounts are available. The price during a 5-year subscription period does not change. You can find more information here.

    7. Kaa Enterprise IoT Platform

    KAA iot cloud platform

    Kaa Enterprise is an IoT platform that enables connectivity and management of devices and IoT solutions. Kaa’s design is modular. It works on microservices that can be customized or integrated with other solutions.


    Use Cases:

    Pricing: Kaa Enterprise has a flexible policy when it comes to subscriptions. The main factor that influences the price is the number of connected devices. Up to 5 devices cost $9.99 per month with a 14-day free trial available. Connecting up to 100 devices for startups costs $79,99 monthly.

    8. ThingWorx IIoT Platform

    ThingWorx IIoT cloud platform logo

    The ThingWorx platform is designed for the industrial Internet of Things (IIoT).

    It is industrial software for creating simplified IoT systems with full control of connected devices and analytical operations. ThingWorx does not have its cloud, although it can assist in hosting your data on other cloud providers.

    It delivers tools and technologies that empower businesses to rapidly develop and deploy powerful applications and augmented reality (AR) experiences.

    Using the ThingWorx platform and its components enterprises can create smart, connected products, operations, and software that:


    Managing connected products:

    Pricing: Available upon request from the sales team and there’s no free trial option.

    9. Siemens Cloud Connect / Insights Hub

    Siemens logo

    CloudConnect is an efficient and secure solution for seamlessly linking manufacturing facilities to the cloud. It enables the seamless transfer of crucial data from the operational environment to the cloud.

    CloudConnect enhances the performance of cloud-based applications by minimizing latency and boosting bandwidth. This would be useful for businesses dealing with substantial data transfers or running applications demanding minimal latency, like real-time analytics and video streaming.

    Insights Hub, formerly known as MindSphere, is an all-encompassing industrial IoT application suite designed to empower you with actionable insights derived from asset and operational data.


    Pricing: The prices range from $500 to $500,000, depending on a tier (basic for extra-small projects: $500; standard for small projects: 5,000; premium for medium projects: 50,000; for large projects: 500,000).

    10. Bosch IoT Suite

    Bosch IoT Suite logo

    Bosch IoT Suite provides means for hosting Industrial IoT platforms, conducting analytics and modeling. This suite is well-suited for applications in agriculture, construction, renewable energy, and the retail sector.

    Currently, this suite connects an impressive network of over 10 million sensors, devices, and machinery to users and enterprise systems, demonstrating its extensive reach and effectiveness in the world of IoT.


    Pricing: This information is available upon request, to get a rough estimation of costs of your potential project with Bosch IoT Device Management, you can use an online calculator on their website.

    11. Blynk

    Blynk logo

    Blynk is a low-code, cloud-based, hardware-agnostic IoT platform that offers a full suite of software allowing one to prototype, deploy, and remotely manage connected electronic devices at any scale. What is unique about this platform is its no-code approach to IoT app building.


    Pricing: There is a free plan and other packages: Maker (from $6.99 monthly); Pro (from $99 monthly); and Enterprise (custom price).

    The shutdown of Google IoT Core, IBM Watson IoT, Salesforce IoT Cloud, and Cisco IoT Cloud Connect. Where to migrate?

    In the last few years, several well-known platforms have undergone significant changes in their status. We feel obliged to mention them in our article and let you know the most recent news in the world of IoT cloud platforms.

    To a big industry surprise, Google IoT Core has been shut down, signaling a shift in the tech giant’s IoT strategy. Similarly, IBM Watson IoT has been deprecated, SAP Leonardo IoT is no longer available, and Salesforce IoT Explorer has also been retired and is no longer active. On top of that, Cisco IoT Cloud Connect is no longer supported as well.

    For organizations currently using these platforms, we advise planning a migration to alternative IoT cloud providers like AWS or Azure. When transitioning to a new platform, there are several key specifications to consider. Start with assessing IoT platform expectations for your organization, such as the number of devices, scalability, and data processing requirements. Secondly, consider the integration capabilities with your existing systems and services to minimize disruptions during the migration process. Finally, prioritize security and compliance measures to protect your IoT data, especially if your industry is prone to vulnerabilities.

    In this article, we have described the major factors to consider when choosing an IoT cloud platform, which includes cost, connectivity options, and main features. We hope it all will be of use for organizations to navigate the transition smoothly.

    IoT software development challenges

    To ensure scalable, secure, and robust IoT solutions, development teams need to be scrupulous in looking for new practices and protocols.

    Below is the list of some of the big technical issues IoT developers should pay attention to before creating software:

    If you are planning IoT app development, you are likely to be facing the above-mentioned challenges. Another difficulty you might encounter is the lack of information on the total cost of your IoT solution.

    To figure out the overall cost, you need to count the cost of all constituents of your IoT solution. The development of your solution can be broken down into 5 major layers – Hardware, Communication, Cloud Services, Software Application, and Security – and the choices you make on each layer will influence the cost. As we here in Euristiq have noticed, when it comes to IoT platforms aka cloud services and app development, the choices are vast, because one should consider other aspects such as the possibility to scale up, third-party integrations, UX/UI complexity, or inflicting changes to the scope on the go. We covered all these questions for you in our article The Cost of IoT.

    Why do you need an IoT platform?

    To make your IoT product successful, it is necessary to have a clear business idea and validate it on the market. With this purpose, building a prototype of your product and testing it with your target audience will bring significant value. Before you embark on the development stage, your initial product has to be in the hands of your target users and stakeholders. The IoT cloud platform will help you get your customers’ feedback in the early stages which you can leverage into further IoT product development.

    Instead of building time-consuming and expensive software, choosing some white-labeled ready-to-use IoT platform is a great option if you want to lower your upfront costs. Also, some vendors offer nearly ready-to-use platforms that are easily customizable, and some require much more integration and customization on the part of your engineers or external consultants. So think carefully about what solution works best for you: hiring software developers to create software from scratch or subscribing to an IoT platform and doing much less job.

    Taking into account that risks are inherent in IoT projects, the paramount advantage of IoT platforms lies in the significant reduction of technical threats and cybercriminal cases. IoT platform vendors take care of such issues as security and regulatory compliance. They are responsible for keeping software versions up-to-date, covering regulatory compliance, certifications, security documentation, and checklists.

    What about creating your own custom IoT platform?

    After considering all those prices and options, a natural question comes to mind that we cannot ignore in this article – what about developing your own IoT platform and saving costs? Well, it’s not as it appears, because actually, using a third-party cloud server is cheaper than building it from scratch.

    Large companies that have strong technical support in-house may opt for building their custom IoT cloud platform as in the long run this investment will prove to be more cost-effective than continuous operational expenses on out-of-the-box solutions.

    But for the majority of companies looking to develop an IoT product to add it to their range of offerings, a custom IoT platform might not be the wisest decision. Bear in mind, that choosing the IoT platform vendor that offers a lot of additional components like storage, advanced analytics, device management, access to readily available partner networks, etc., might take a lot of problems from your agenda.

    How to choose a cloud IoT platform?

    We have made a comparative analysis of top IoT cloud platforms so that you have a variety of options to select for your IoT project. We cannot outline the best one since your choice has to meet the specific demands of your business. For instance, Amazon is the most established in the IoT field but it can be not suitable for your budget expectations. The platforms offering free tiers may be a good solution for the start since you can check out the features, weigh the pros and cons, and test their functionality.

    All of these above-mentioned IoT cloud platforms have their unique features and benefits. To decide which solution fits the best, we recommend to explore the following set of criteria:

    With the complexity of software development systems, some CEOs are not sure if the ready-to-made solutions will satisfy all their business needs. That’s why there are IoT platforms that are built on top of existing IoT cloud platforms that offer extensive support and maintenance on each development stage of the project. So if you are looking for IoT experts for your IoT development project, contact us.

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