Top 8 IoT Cloud Platforms for 2024: Guide on How to Choose the Best One

Numerous businesses and products revolve around IoT—consider 17 billion connected devices in 2024 alone. Most of these projects share a surprising amount of similar challenges, all of which can be tackled by choosing a cloud IoT platform.

Since 2010, these platforms have started gaining popularity, offering ready-made solutions for those common challenges. By relying on the best IoT cloud platform now, businesses can focus on their projects instead of reinventing the wheel and handling complex custom development manually.

A 2Smart Cloud IoT platform developed by WebbyLab

Having developed our own products, 2Smart Cloud and 2Smart Standalone, and worked with well-known IoT cloud platforms, we’ll leverage our experience to share:

• The IoT cloud platform definition and its functionality
• The 8 best IoT cloud platforms for 2024
• The main types of Internet of Things platforms

Besides, we’ll help you answer the pressing question: is a pre-built platform right for you?

An IoT system architecture

What Exactly Is a Cloud IoT Platform, and What Is Its Function?

An IoT cloud platform is a middleware that connects user applications with remote devices. Basically, it’s any software that meets the following criteria:

• Predictability. It performs a clear and defined task in a predictable manner.
• Compatibility. It’s universal and supports various types of devices.
• Adaptability. It’s open and flexible for use in diverse solutions.

Generally, IoT platforms address around 80% of IoT solution needs. While their scope of coverage is extensive, the remaining 20%, related to custom functionalities and integrations, can be covered by specialized software only.

IoT cloud services are indispensable to any modern IoT ecosystem because they cover plenty of functions:

• Device management. This functionality covers the connection, registration, discovery of devices, and integration with devices that use different connectivity protocols.
• Data collection and analysis. IoT services can gather and analyze data from connected devices.
• Security. This set of features secures server infrastructure, encryption, access control, and beyond.
• Integration. IoT platforms can integrate through the open APIs with other systems, including CRMs, ERPs, ACSs, and online stores.
• Scalability. This functionality addresses challenges related to scaling the platform to accommodate increasing loads, user bases, and connected devices over time.
• User interface. This involves providing device management interfaces, such as an IoT dashboard for device monitoring and control.

Important note: IoT cloud platforms may perform only some of the above tasks or execute them differently based on each task’s intended purpose and application. That’s why we’ll categorize platforms into distinct groups and spotlight the key players within each category.

Kostiantyn Oliynyk

Head of IoT at Webbylab

Helped dozens of startups create effective IOT products.

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8 Best IoT Platforms in 2024: Overview and Comparison

So, what are the best IoT platforms for 2024? Check out our table for a brief comparison.

Below, you can find detailed descriptions of each example in our list of the best Internet of Things cloud platforms.

1. Amazon Web Services (AWS) IoT Core

AWS is an undeniable leader in the cloud computing market and one of the most popular IoT platforms. It’s highly scalable, secure, and suitable for projects of all sizes. Especially, AWS IoT Core is a good fit for industrial, commercial, automotive, and consumer devices.

By choosing this platform, your company gets access to (but also risks getting stuck with) various Amazon services, including:

• Amazon S3
• Amazon DynamoDB
• AWS Lambda
• Amazon SNS
• Amazon SQS

2. Microsoft Azure IoT

Microsoft truly takes the Internet of Things to the next level. Using Microsoft Azure IoT lets businesses in healthcare, energy, automotive, and other industries build scalable solutions. They offer plenty of IoT-centered services with cloud storage, data analytics, and machine learning through the following solutions:

• Azure IoT Operations
• Azure IoT Hub
• Azure Digital Twins
• Azure IoT Edge
• Azure Sphere

3. Oracle IoT

Oracle is a platform-as-a-service (PaaS) widely used in smart manufacturing, logistics, and predictive maintenance. It provides robust analytics and endpoint data management capabilities.

The features you can get with this best IoT cloud platform include:

• Integration with other Oracle Cloud services and enterprise apps
• Unique digital identity for each device
• Real-time analysis tools
• Automatic data stream synchronization

4. Kaa Enterprise

Kaa Enterprise is one of the most popular Internet of Things platforms in the logistics, energy, and agriculture sectors. This IoT SaaS solution features:

• Data collection and management
• Integrations with legacy systems, data analytics tools, and other third-party services
• Integrations with hardware like sensors, wearables, and more
• Support for various connectivity protocols

5. ThingWorx IIoT

ThingWorx is one of the best IoT platform providers for industrial applications. It assists in device management and monitoring, offering the following features:

• Remote access and control
• Asset management
• Provisioning
• Alert management
• Workflow automation

6. Siemens

Siemens provides powerful solutions for industrial automation and manufacturing. Their two core services include:

• CloudConnect service connects manufacturing or industrial facilities to the cloud, offers minimal latency, and is suitable for real-time analytics and even video streaming.
• Insights Hub suite of industrial IoT tools (formerly known as MindSphere) lets businesses analyze data obtained from devices.

7. Particle

Among the top cloud platforms for Internet of Things, Particle is an edge-to-cloud solution that enables connectivity and device management. It’s often used in industrial equipment monitoring, environmental monitoring, and HVAC systems. The platform also provides hardware:

• Development boards
• Gateways
• System-on-modules

8. Cisco IoT Cloud Connect

Cisco, a global information technology leader, is also one of the best cloud platform for IoT projects. It’s suitable for both industrial and individual uses, supporting large-scale deployments. Their IoT cloud platform features network connectivity, edge computing, data management and exchange, and top-notch security. Hardware solutions from Cisco include:

• Switches
• Routers
• Gateways
• Access points

Types of Internet of Things Platforms

In our experience working with various IoT cloud platform providers, we’ve found out they cater to different business needs. To help you pick the right one for your specific situation, let’s break them down into distinct categories, including:

• General
• Industrial
• Consumer
• Healthcare
• Smart City
• Edge

General IoT Platforms

These IoT cloud platforms are all-in-one toolkits covering a wide range of industries and uses. They typically feature device management, data collection and processing, and integration services—basically everything you need to implement your IoT idea.

Below, you can find generic IoT examples from our top IoT platforms list and their functions.

Microsoft Azure IoT Hub:

• Provides reliable connectivity between IoT devices and the cloud
• Manages device identification, authentication, and authorization
• Enables data analysis both in the cloud and on devices
• Integrates with other Azure services for advanced analysis and data storage

AWS IoT Core:

• Establishes secure connections between devices and the cloud
• Automatically manages and monitors millions of devices
• Processes and analyzes data in real time
• Integrates with Lambda for event-triggered code execution

Google Cloud IoT Core:

• Supports device-to-cloud communication through standard protocols
• Integrates with other Google Cloud services for data analysis
• Automatically manages devices and ensures secure data transmission
• Scales to handle millions of devices

IBM Watson IoT Platform:

• Collects, analyzes, and visualizes data from IoT devices
• Uses machine learning models for analysis
• Ensures security at both device and data levels
• Integrates blockchain for improved trust and transparency in operations

Cisco IoT Cloud Connect:

• Provides a comprehensive solution for managing mobile IoT devices
• Optimizes network resource usage and ensures security
• Supports connection management, authentication, and access policies

Additionally, the generic category comprises smaller platforms in terms of their coverage. They serve as all-in-one solutions that don’t require a lot of custom development work:

• Kaa IoT: This flexible, feature-rich, open-source IoT platform supports a wide range of devices and applications. Kaa lets developers quickly build and implement IoT solutions by integrating data analytics and machine learning. This platform excels in scalability and can be customized to meet specific business needs.
• ThingsBoard: Unlike Kaa, this open-source IoT platform focuses on data integration, device administration, and built-in features for data visualization through dashboards. The platform supports MQTT, CoAP, and HTTP protocols and lets you implement complex IoT projects that require real-time monitoring and device management. ThingsBoard is especially useful for projects demanding extensive user interaction and detailed data visualization.

Industrial IoT (IIoT) Platforms

IIoT platforms are designed specifically for industrial IoT solutions in manufacturing, logistics, energy, and other areas. They prioritize machine health monitoring, predictive maintenance, and automation. 

Here are some prominent examples of industrial IoT solutions.

Siemens MindSphere:

• Collects and analyzes data from industrial machines and equipment for process optimization
• Monitors equipment condition for predictive maintenance
• Supports digital twins for process simulations and testing
• Integrates with various IT systems and cloud services

GE Predix

• Uses big data analytics to improve equipment performance and efficiency
• Provides real-time equipment monitoring and diagnostics to reduce downtime
• Enables development and use of industrial applications for specific tasks
• Ensures data and equipment security

Rockwell Automation FactoryTalk

• Integrates data between equipment and corporate IT systems
• Visualizes production processes for improved management and supervision
• Manages asset life cycles to optimize resource usage
• Supports security standards and interactions with industrial controllers

Honeywell Forge

• Optimizes equipment and resource operation through data collection and analysis
• Implements predictive maintenance using AI and machine learning to prevent failures
• Improves security and regulatory compliance
• Integrates with other systems and automates processes

Schneider Electric EcoStruxure

• Ensures energy efficiency and optimizes resource consumption
• Centrally manages equipment and infrastructure in production
• Implements intelligent power management for increased productivity

Consumer IoT Platforms

Consumer IoT platforms target consumer-oriented products like IoT solutions for smart home devices, wearables, and entertainment systems. They focus on user experience, scalability, and interoperability with various consumer products.

Here are the top IoT cloud platforms for consumers on the market.

Apple HomeKit:

• Enables easy and secure control of smart home devices via iOS, Siri, and Home app interfaces
• Ensures high levels of security and privacy for user data
• Integrates with devices like lighting, locks, thermostats, and cameras
• Supports customizable automation scripts based on user needs

Google Home (Nest)

• Integrates smart home devices with Google Assistant for voice control
• Supports thermostats, smoke detectors, video cameras, and other devices
• Provides intuitive applications for managing and monitoring home systems
• Automates home lighting, security, and climate control based on user behavior

Amazon Alexa

• Enables control of smart home devices through voice commands using Alexa
• Offers extensive integration with devices from third-party manufacturers, creating a large-scale ecosystem of compatible devices
• Allows the creation of macros and automation to improve user experience
• Provides interaction with multimedia services and home electronics for centralized control

Samsung SmartThings

• Enables centralized control of smart devices in the home through a single application
• Compatible with a wide range of products, from lighting to security and large appliances
• Supports automation and advanced settings for personalized usage scenarios
• Offers a high level of integration with Samsung products and support for third-party devices

Philips Hue

• Controls home lighting via a mobile application or voice commands
• Offers a wide range of lighting products, allowing users to customize lighting according to their mood or situation
• Allows programming and automation to improve comfort and energy efficiency
• Integrates with other smart home systems to create a comprehensive automated home management solution

The platforms outlined above go beyond just mere software. They are entire ecosystems with end-to-end solutions for users, letting any developer and IoT device manufacturer become a part of them and focus solely on hardware and firmware development. The software aspect is handled and promoted by the ecosystem itself.

Other decent examples of consumer platforms include Blynk and our product, the 2Smart Cloud IoT platform. These solutions provide comprehensive tools for creating IoT devices, along with software for connecting, managing, and monitoring them via web and mobile applications.

Healthcare IoT Platforms

Healthcare IoT platforms comply with medical regulations and standards. They support devices used in medical monitoring, patient care, and health management, focusing on security, data privacy, and reliable real-time operations. 

Philips HealthSuite and IBM Watson Health are some of the healthcare IoT platform examples.

Smart City IoT Platforms

Aimed at urban development, Smart City IoT platforms handle large-scale IoT deployments for traffic management, public safety, utility services, and environmental monitoring. They often involve integration with local government systems and services.

Edge IoT Platforms

Edge IoT platforms focus on edge computing with processing close to data generation source rather than in a centralized cloud environment. They are best for real-time data processing in scenarios where latency is a critical factor. 

Examples of such edge IoT platforms include AWS Greengrass and Azure IoT Edge.

Advantages and Disadvantages of IoT Cloud Platforms

You’ve probably started to consider different IoT cloud platform providers, but is it the right solution for your project in the first place? Let’s weigh all the pros and cons, along with usage criteria, in this section so you can make an informed solution.

Pros

• Numerous ready-to-use features. The available out-of-the-box functionality covers 80% of your tasks so you can speed up time-to-market significantly.
• Collective expertise. Numerous engineers were involved in and put all their experience into IoT platform development so that you can count on high-quality and well-implemented software.

Cons

• Specialized skill requirement. Using IoT cloud platforms requires specialists with experience working on them or either hiring or training such experts.
• High implementation costs. Implementing an IoT cloud platform can be costly, especially for small projects.
• Platform dependency. Companies heavily reliant on IoT platforms may find it challenging to capitalize on their business.

When to Use an IoT Platform

There are numerous reasons to use IoT platforms, but budget and time are the most common. If you’re still unsure how to choose a cloud IoT platform and whether you need it at all, consider the criteria when such a solution is a must-have:

• Rapid deployment and prototyping. If you need to quickly launch a project and start collecting data from IoT devices, a commercial IoT platform can provide fast setup and ease of use. They usually offer ready-made tools and interfaces that simplify connecting devices and processing data.
• Availability of technical support and reliability. IoT platforms usually offer reliable technical support and service level agreements (SLAs) that guarantee a certain level of service. This is important for mission-critical applications where unexpected outages can cause significant damage.
• Integration and scaling. If you need to scale the solution to a large number of devices or integrate it with various other systems and services, IoT platforms often offer rich opportunities for integration. This includes support for standard protocols, APIs for extending functionality, and the ability to work with big data.
• Security. IoT platforms typically include advanced data protection, authentication, and access control tools critical for many use cases. Choosing a commercial platform can help provide a higher security level compared to open-source solutions.
• Compliance with standards and regulations. Industries like healthcare or finance face strict compliance requirements. Commercial IoT platforms can provide the necessary guarantees and certifications that are difficult to achieve with outsourcing or open-source solutions.

Alternatives to IoT Platforms

If the most popular IoT platforms don’t suit your needs for any reason, you can opt for several alternatives. Here are the top IoT business ideas to create your IoT solution without relying on common cloud vendors:

• Turning to IoT service providers. These companies specialize in developing and implementing turnkey IoT solutions, offering a full range of services from consulting to support. Owing to their experience, you get an IoT platform alternative that meets your specific needs.
• Custom IoT solution development. If you’re looking for a more flexible option, choose custom IoT software development along with hardware design and system integration from outsourcing companies like WebbyLab.
• Using open-source IoT platforms. Instead of commercial IoT solutions, you can choose open-source IoT cloud platforms alternatives — often free and community-driven. Examples include Home Assistant or OpenHAB for home automation and Node-RED for IoT stream creation.
• Integration with existing infrastructure solutions. You can integrate IoT functionality with your existing infrastructure, such as ERP or CRM systems, through specialized modules or APIs.

WebbyLab Experience with IoT Cloud Platforms

WebbyLab experts have worked with various IoT cloud platform providers throughout our journey in the Internet of Things. Here are some of the solutions we’ve delivered.

2Smart Cloud IoT Platform

We’ve built our proprietary product, a 2Smart Cloud platform, considering the requirements of two key stakeholders:

• Our business clients creating and maintaining IoT devices
• End users as the ultimate recipients of these services and products

The delivered 2Smart Cloud platform uses the following architecture:

The 2Smart Cloud IoT platform’s architecture

2Smart Standalone

WebbyLab has also developed 2Smart Standalone — a platform for creating various IoT solutions, from smart homes and greenhouses to BMS home monitoring systems.

Our platform offers the following features:

• Remote access via the Internet
• Offline operation of every feature
• Event-based system
• Modular architecture, allowing for the integration of third-party services
• Simple installation process
• Cross-platform support
• Device auto-discovery support

The 2Smart Standalone platform developed by WebbyLab

Commercial Project Based on GCP

Our team has also delivered a commercial project using the Google Cloud Platform. Although it isn’t specifically an IoT platform but a solution within the Google ecosystem, we have extensive experience working with Google services.

Our efforts resulted in developing an IoT architecture without MQTT:

The IoT architecture without MQTT based on Google Cloud Platform

Conclusion

Now that you’ve discovered the best IoT cloud platforms in 2024, choose the one that suits your needs best, based on scalability, security, feature set, and your budget.

If you’re still overwhelmed by the options available, trust your business transformation to reliable experts. Contact WebbyLab today to get a detailed consultation on IoT cloud platforms.