IoT platform providers play a significant yet often overlooked role in the IoT ecosystem by partnering with service providers to manage the exponential growth of devices and data. Platform providers develop distributed platforms using virtualized software defined network technologies to build horizontally scalable solutions that allow service providers to grow their user base while reusing hardware and software assets. Key components of platform providers' solutions include a device connectivity layer, application integration/development layer, and platform management layer. While partnerships between service providers and platform providers address many customer needs, issues remain regarding application development, integration, varying protocols and tools, and ensuring security and quality standards across layers. As IoT matures, platform providers' roles will become more prominent through tighter integration with service providers