There are four different kinds of IoT platforms: Hardware IoT platforms: these mainly comprise switches, routers, gateways, chips, sensors, and actuators. App development platforms: these are mainly concerned with designing and developing consumer-facing apps for the solution provider. Analytics/BI platform: some IoT platforms convert user data into actionable insights. They thrive on analytics and business intellingence. Full-stack IoT platforms: these comprise all the IoT solutions above.