New Analysis from Global Industry Analysts Reveals Steady Growth for Internet of Things (IoT) Engineering Services, with the Market to Reach $57 Billion Worldwide by 2026

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Aug 26, 2021, 11:50 ET

SAN FRANCISCO, Aug. 26, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Internet of Things (IoT) Engineering Services - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Internet of Things (IoT) Engineering Services

FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 737
Companies: 36 - Players covered include Accenture PLC; AGT; Arrow Sustainable Technology Solutions; AT&T; Atos SE; Bosch; Capgemini; CGI; Cisco; Cognizant; Dell Technologies Inc; Deloitte; EPAM Systems, Inc; Ericsson; Globecomm; Harman International Industries; Infosys; Integron; Jetter AG; Lochbridge Inc; Luxoft Holding Inc; NIIT Technologies; NTT Data Corporation; Rogers Communication Inc; Tata Consultancy Services ; Tech Mahindra; Tech Mahindra; Tieto Corporation; Verizon Enterprise Solutions; Virtusa Corporation; Vodafone Global PLC; Wind River and Others.
Coverage: All major geographies and key segments
Segments: Service Type (Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering, Other Service Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Internet of Things (IoT) Engineering Services Market to Reach $57 Billion by 2026
Amid the COVID-19 crisis, the global market for Internet of Things (IoT) Engineering Services estimated at US$17.4 Billion in the year 2020, is projected to reach a revised size of US$57 Billion by 2026, growing at a CAGR of 21.5% over the analysis period. Product Engineering, one of the segments analyzed in the report, is projected to record a 22.8% CAGR and reach US$18 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cloud Engineering segment is readjusted to a revised 21.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $5.9 Billion in 2021, While China is Forecast to Reach $8.9 Billion by 2026
The Internet of Things (IoT) Engineering Services market in the U.S. is estimated at US$5.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.9 Billion by the year 2026 trailing a CAGR of 20.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.3% and 18.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.8% CAGR.

Experience Engineering Segment to Reach US$5.8 Billion by the year 2026
In the global Experience Engineering segment, USA, Canada, Japan, China and Europe will drive the 18.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion in the year 2020 will reach a projected size of US$4.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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