IoT Services Market Growth Overview, New Updates, Trends, Incremental Revenue, Opportunities, Challenges and Forecasts till 2030
The internet of things (IoT) services market consists of the sales of IoT as services and their related products. Business entities act as a support to the end-user companies by providing professional and managed services such as network management, data management platforms, infrastructure, and deployment of the IoT technology for making them automated and smarter. Internet of things (IoT) services are delivered by the IoT service providers who provide consulting, security, and analytics services as per the requirement of the business.
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Major players in the internet of things (IoT) services market are Cisco Systems, Cognizant, Google, Infosys, Tieto Corporation, Virtusa Corporation, Accenture PLC, IBM, Tech Mahindra, and Harman International Industries.
The IoT services market covered in this report is segmented by type into professional services; managed services and by vertical into manufacturing; retail; IT & telecom; transportation & logistics; utilities; healthcare; energy; others.
An increase in the internet of things use cases is expected to drive the IoT service market. IoT use cases are the areas where IoT can be used for automating the process and increasing productivity. Over the years IoT has found its use in many areas such as manufacturing, farming, smartwatches, smart cities, transportation, and other fields, which has increased the need for IoT services that provide support by delivering services such as consulting, data management, network management, security services, and others. For instance, Telit, a leading IoT enabler, provides an IoT security system that helps users to control and monitor the surveillance along with collecting data and analyzing it to improve the security of buildings, turning them into smart buildings. The IoT use cases eventually increase the demand for IoT services and are expected to drive market growth.
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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2020–2030? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the IoT Services market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the IoT Services market?
4. What are the prominent market trends influencing the development of the IoT Services market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the IoT Services market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
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