A new report published by MarketsandMarkets names tech giants Google, Apple and Microsoft among the major vendors in Internet of Things (IoT) operating systems — a market that’s expected to grow from $289 million this year to more than $1.7 billion by 2022. That’s a remarkable compound annual growth rate of almost 43 percent, presenting a huge channel opportunity.

People and businesses are turning to IoT thanks to the increasing desire for new technologies such as cloud computing and mobility. One of the groups fueling the growth the fastest is small and medium businesses (SMBs). That’s because these businesses typically look for operating systems that focus on “developing a systematic approach for organizations and becoming more proactive toward their business operations,” the report says.

A significant partner opportunity lies in smart-building automation. That, along with home-automation applications, is expected to hold the largest market share in IoT operating systems over the next five years. IoT apps for smart buildings are readily available today, and equipment manufacturers are ready to add value to IoT, the report notes.{ad}

Regionally, North America is expected to lead the way thanks to sustainable and well-established economies that lead companies to invest more in research and development. Market growth in the U.S. and Canada is driven by digitalization across industry verticals, increasing adoption of smart connected devices, and technological advancements.

Beyond the big three names listed above, MarketsandMarkets identifies the following as major vendors in IoT operating systems: ESOL Co ltd, Blackberry ltd., ARM ltd., Wittenstein, ENEA AB, Mentor Graphics Corporation, Green Hills Software, SysGo Ag, Wind River, Kaspersky Lab and Canonical Ltd.

Follow executive editor @Craig_Galbraith on Twitter.