Improving Cloud Computing Capabilities Expand Data Connectivity Services
NEW YORK, July 12, 2022 /PRNewswire/ -- 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)
- 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.
- 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.
- 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."