The Worldwide IoT Professional Services Industry is Expected to Reach $158.9 Billion by 2027

Dublin, Nov. 29, 2022 /PRNewswire/ -- The "Global IoT Professional Services Market by Service Type (IoT Consulting, IoT Infrastructure, System Designing & Integration, Support & Maintenance, Education & Training), Organization Size, Deployment Type, Application & Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global IoT professional services market is expected to account for USD 158.9 billion by 2027, growing at a CAGR of 6.4% during the forecast period.

IoT consulting service, by service type segment to account for a larger market size during the forecast period

The IoT consulting services are utilized for devising various strategies, developing use cases, planning roadmaps, appraising technologies, and defining IoT architectures. They also aid in streamlining business operations for enterprises. IoT consulting service providers make sure the suitable IoT applications and architecture are developed and implemented in businesses. They assist businesses in building new IoT infrastructures to improve their current systems. IoT consulting service providers also assist non-IT businesses with limited IT skills in understanding IoT technologies.

Based on Deployment type, the cloud segment is projected to be the fastest market during the forecast period

As cloud computing services offer insights into partnership tactics, go-to-market strategy, investments, alliance and acquisition strategies, and best operational practices, businesses are embracing them. Cloud computing services also make it easier to track, compare, and evaluate business activities and make sure that business operations are in accordance with customer requirements. Many businesses are investing in big data, IoT, artificial intelligence, and 5G technologies to obtain key strategic insights for decision-making leading to growing investment in cloud-based services.

Based on region, Asia-Pacific is projected to account for the highest CAGR during the forecast period.

Asia Cloud Computing Association (ACCA), a member-driven organisation created to expedite the adoption of cloud computing services, is a driving force of digitization in the region. Governments, cloud service providers, and enthusiast customers are among its members. The projected investment by China in infrastructure as a service is also expected to shroom rapidly. Due to to these investments and rapid adoption of cloud the region is expected to fuel market growth for IoT Professional services.

Smart transport and logistics, by application segment to lead the market during the forecast period

In order to deliver real-time online information about traffic flow, asset tracking, and passengers/commuters, smart transportation and logistics include integrating cutting-edge technologies with the current transportation and logistics infrastructure. Additionally, it is utilised for inventory management, fleet management, freight management, cargo and container tracking, supply chain and logistics management, traffic control, ticketing management, and parking management. IoT professional services assist businesses in the logistics and transportation industries in automating processes by implementing IoT technological solutions.

North America to account for the largest market size during the forecast period

North America, which consists of the US and Canada, is anticipated to account for the largest share of the global market for IoT professional services. These nations' economies are stable and well-established, enabling them to make significant investments in R&D activities and contribute to the creation of new technology. The area is technologically advanced, and a number of government programmes, such as smart cities and Industrial IoT, have been accepted.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for Players in IoT Professional Services Market
4.2 Asia-Pacific Market, by Service Type and Country
4.3 Market: Major Countries

5 Market Overview
5.1 Market Overview
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Data Traffic due to Increasing Number of IoT Connections
5.2.1.2 Increasing Internet Ubiquity and Development of Wireless Technologies
5.2.1.3 Rising Need to Increase Operational Efficiency in Various Industries
5.2.1.4 Increasing M2M Applications Across Industries to Accelerate IoT Growth
5.2.1.5 Government Initiatives in R&D Activities Related to IoT
5.2.2 Restraints
5.2.2.1 High Demand and Low Supply of Valuable Semiconductor Chips
5.2.2.2 Interoperability and Lack of Common Standards
5.2.3 Opportunities
5.2.3.1 Increasing Demand for IoT-Enabled Digital Transformation of Businesses
5.2.3.2 Shift from On-Premises to Cloud-based Data Management Strategy
5.2.4 Challenges
5.2.4.1 Integration Issues of Legacy Infrastructure and Communication Networks
5.2.4.2 Concerns Associated with Data Security and Privacy
5.3 Technology Analysis
5.4 Ecosystem
5.5 Value Chain Analysis
5.6 Porter's Five Forces Model
5.7 Average Selling Price Trend
5.8 Patent Analysis
5.9 Key Conferences and Events from 2022-2023
5.10 Regulatory Landscape
5.11 Key Stakeholders and Buying Criteria
5.11.1 Key Stakeholders in Buying Process
5.11.2 Buying Criteria
5.12 Case Study Analysis
5.12.1 Case Study 1: NXP and Ford Collaborate to Deliver Next-Generation Connected Car Experiences
5.12.2 Case Study 2: Infosys to Deliver Cloud-based Global Telematics Solutions for Toyota Material
5.12.3 Case Study 3: Energy Savings Using Networked Warehouses
5.12.4 Case Study 4: Accenture Helps Swisscom Advance Its Environmental Ambitions

6 IoT Professional Services Market, by Service Type
6.1 Introduction
6.2 IoT Consulting Services
6.2.1 Requirement for All-Round Solution
6.2.2 IoT Consulting Services: IoT Professional Services Market Drivers
6.2.3 Technology Consulting Services
6.2.3.1 Technology Consulting Services: IoT Consulting Services Market Drivers
6.2.4 Business Consulting Services
6.2.4.1 Business Consulting Services: IoT Consulting Services Market Drivers
6.2.5 Operational Consulting Services
6.2.5.1 Operational Consulting Services: IoT Consulting Services Market Drivers
6.3 IoT Infrastructure Services
6.3.1 Unavailability of IoT Trained Personnel
6.3.2 IoT Infrastructure Services: IoT Professional Services Market Drivers
6.3.3 Network Services
6.3.3.1 Network Services: IoT Infrastructure Market Drivers
6.3.4 Deployment Services
6.3.4.1 Deployment Services: IoT Infrastructure Market Drivers
6.3.5 Cloud Services
6.3.5.1 Cloud Services: IoT Infrastructure Market Drivers
6.4 System Designing and Integration Services
6.4.1 Difficulty in Designing and Installation
6.4.2 System Designing and Integration Services: IoT Professional Services Market Drivers
6.4.3 Platform Development and Integration
6.4.3.1 Platform Development and Integration Services: System Designing and Integration Services Market Drivers
6.4.4 Mobile and Web Application Development
6.4.4.1 Mobile and Web Application Development: System Designing and Integration Services Market Drivers
6.5 Support and Maintenance Services
6.5.1 Rapid Expansion to Fuel Need for Maintenance Services
6.5.2 Support and Maintenance Services: IoT Professional Services Market Drivers
6.6 Education and Training Services
6.6.1 Need for Trained Staff to Operate IoT Devices
6.6.2 Education and Training: IoT Professional Services Market Drivers

7 IoT Professional Services Market, by Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Growing Investments and Cost Savings by Large Enterprises
7.2.2 Large Enterprises: IoT Professional Services Market Drivers
7.3 Small and Medium-Sized Enterprises
7.3.1 Growing Opportunities for Small Vendors
7.3.2 Small and Medium-Sized Enterprises: Market Drivers

8 IoT Professional Services Market, by Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Highly Customizable Solutions
8.2.2 On-Premises: Market Drivers
8.3 Cloud
8.3.1 Easy to Deploy and Pay as You Go Service
8.3.2 Cloud: Market Drivers

9 IoT Professional Services Market, by Application
9.1 Introduction
9.2 Smart Buildings
9.2.1 Support of Government Authorities
9.2.2 Smart Buildings: IoT Professional Services Market Drivers
9.3 Smart Manufacturing
9.3.1 Adoption of Automation in Manufacturing
9.3.2 Smart Manufacturing: IoT Professional Services Market Drivers
9.4 Smart Transport and Logistics
9.4.1 Decreased Costs of Smart Logistics Consumers
9.4.2 Smart Transport and Logistics: Market Drivers
9.5 Smart Healthcare
9.5.1 Growing Interest in Wearable Healthcare Devices
9.5.2 Smart Healthcare: IoT Professional Services Market Drivers
9.6 Smart Retail
9.6.1 Personalized Marketing Based on IoT-Collected Data
9.6.2 Smart Retail: IoT Professional Services Market Drivers
9.7 Smart Energy
9.7.1 Green Energy Promotion Utilizing IoT
9.7.2 Smart Energy: Market Drivers

10 IoT Professional Services Market, by Region

11 Competitive Landscape
11.1 Overview
11.2 Market Evaluation Framework
11.3 Market Ranking
11.4 Market Share Analysis
11.5 Historical Revenue Analysis of Leading Players
11.6 Key Market Developments
11.6.1 Product Launches
11.6.2 Deals
11.7 Competitive Benchmarking
11.8 Company Evaluation Matrix
11.8.1 Definitions and Methodology
11.8.2 Stars
11.8.3 Emerging Leaders
11.8.4 Pervasive Players
11.8.5 Participants
11.9 Small and Medium Enterprise /Startup Evaluation Matrix
11.9.1 Definitions and Methodology
11.9.2 Progressive Companies
11.9.3 Responsive Companies
11.9.4 Dynamic Companies
11.9.5 Starting Blocks

12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 Accenture
12.2.2 Atos
12.2.3 IBM
12.2.4 Cognizant
12.2.5 DXC Technology
12.2.6 Deloitte
12.2.7 Capgemini
12.2.8 TCS
12.2.9 NTT Data
12.2.10 Infosys
12.2.11 AT&T
12.2.12 Wipro
12.2.13 General Electric
12.2.14 Honeywell
12.2.15 Oracle
12.2.16 HCL
12.2.17 EY
12.2.18 Unisys Corp
12.2.19 Vodafone
12.2.20 Tech Mahindra
12.3 Startup and SMEs
12.3.1 Happiest Minds
12.3.2 Mindtree
12.3.3 Prodapt
12.3.4 Siemens Advanta Consulting
12.3.5 Orbcomm
12.3.6 PureSoftware
12.3.7 Velvetech
12.3.8 Jaarvis
12.3.9 Eseye
12.3.10 Cuelogic

13 Adjacent/Related Market

14 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/ws1tkv

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