IoT Professional Services Market, By Organization Size: (SMEs, Large Enterprises), By Deployment Type: (Cloud, On-premises), By Service Type (IoT Infrastructure Service, IoT Consulting Service, System Designing and Integration Service, Support and Maintenance Service, Education and Training Service), By Application (Smart Buildings, Smart Manufacturing, Smart Transport, and Logistics, Smart Healthcare, Smart Retail, Smart Energy), By Region – Global Analysis Forecast Till 2030

The Global IoT professional services market is expected to grow from USD 24.10 billion in 2022 to USD 184.1 Billion by 2030 at a CAGR of 7.9% from 2022 to 2030.

Growth can be attributed to the widespread adoption of IoT technologies. IoT is used extensively in manufacturing, healthcare, retail, energy, transportation, and logistics sectors. With the introduction of IoT-based systems, the need for professional services for the successful implementation and operation of the system is increasing. IoT Professional Services can help organizations achieve their business goals and get maximum returns on their IoT investments. IoT professional services are delivered through different stages: understanding customer requirements, framing the architecture, high-level design, validating results, preparing for transformation, developing a program plan, preparing for adoption, executing deployment, business review, and realizing value. Although these services are gaining traction in developed countries, poor network infrastructure in several developing countries is likely to hamper the growth of the global IoT professional services market over the forecast period.

Market Dynamics:

Drivers:

The projected growth of the global IoT professional services market during the forecast period is attributable to the increase in IoT connectivity such as IoT devices and medical devices. Growing demand for IoT professional services in the transportation and industrial sectors is likely to drive the market over the forecast period. The growth of the IoT professional services market is driven by advances in wireless technology and increasing internet availability. Growing demand for advanced skills is helping organizations choose IoT professional services for their business. Collaborations, partnerships and new product launches are providing opportunities for the IoT professional services market.

Restraints:

However, the lack of uniform regulatory standards and universal protocols, as well as the lack of provision of universal standards or promising construction services, will hamper the growth of global IoT professional services.

Key players:

• Accenture

• Cognizant

• Deloitte

• DXC Technology

• Tata Consultancy Services

• Capgemini

• Wipro Limited

• Infosys

• Oracle Corporation

• HCL Technologies

• Vodafone Group plc

• Tech Mahindra

• Ernst & Young Global Limited

• Atos

• IBM Corporation

Market Segmentation:

By Service Type:

• IoT Consulting Service

  • Technology Consulting Service

  • Business Consulting Service

  • Operational Consulting Service

• IoT Infrastructure Service

  • Network Service

  • Deployment Services

  • Cloud Service

• System Designing and Integration Service

  • Platform Development and Integration

  • Mobile and Web Application Development

• Support and Maintenance Service

• Education and Training Service

By Organization Size:

• SMEs

• Large Enterprises

By Deployment Type:

• Cloud

• On-premises

By Application:

• Smart Buildings

• Smart Manufacturing

• Smart Transport and Logistics

• Smart Healthcare

• Smart Retail

• Smart Energy

By regions:

• North America

  • US

  • Canada

• Europe

  • UK

  • Germany

  • Rest of Europe

• APAC

  • China

  • India

  • Rest of APAC

• Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

• MEA

  • KSA 

  • UAE

  • Rest of MEA

Regional Analysis:

The global IoT professional services market can be segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The growth of the North American market is attributed to early adoption and globalization of various technologies. North America dominates the global IoT professional services market owing to its economic growth.

In Europe, the market for IoT professional services is booming due to the growth of the telecom and IT industries. The market in the Asia-Pacific region is rapidly expanding due to the increasing adoption of advanced technologies, continued economic growth, and smart city projects.

Scope of the Report:

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