IoT Professional Services Market Valued at USD 120.3 Billion in 2022, Estimated to Grow at a CAGR of 7.2% from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global IoT Professional Services market size accounted for USD 120.3 Billion in 2022, growing at a CAGR of 7.2% from 2023 to 2033. The IoT (Internet of Things) Professional Services market refers to the range of services provided by companies to help organizations plan, design, implement, and manage IoT solutions. IoT professional services are essential for businesses looking to leverage IoT technologies to optimize their operations, improve efficiency, and drive innovation. These services encompass various areas, including strategy development, consulting, system integration, deployment, support, and maintenance. The widespread adoption of IoT technologies across industries is a significant driver for the IoT Professional Services market. Organizations are embracing IoT to enhance their business processes, improve decision-making, and create new revenue streams. IoT professional service providers assist businesses in understanding the potential benefits and challenges of IoT adoption and help them develop tailored strategies and implementation plans.
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Key Highlights:
• The global IoT Professional Services Market size was valued at USD 120.3 billion in 2022 growing at a CAGR of 7.2% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has published a new market research report on Global IoT Professional Services Market focusing in various aspects including market size and forecast, market dynamics, competitors market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which includes Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted in order to prosper through this industry over short and long terms. The quantitative analysis includes our authentic findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID 19 impact, the IoT Professional Services market report also includes the following data points:
• COVID19 Impact on IoT Professional Services market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in IoT Professional Services market
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Key Players
Some of the major IoT Professional Services players holding high market share include Atos SE, Tata Consultancy Services Limitedand IBM Corporation. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• Atos SE
• Tata Consultancy Services Limited
• IBM Corporation
• General Electric Company
• AT&T Inc.
• Cognizant Technology Solutions Corp.
• DXC Technology Company
• Capgemini SE
• Virtusa Corp.
• Wipro Technologies
• Oracle Corporation
Segmental Analysis
Market Segment By Service Type with focus on market share, consumption trend, and growth rate of IoT Professional Services Market:
o IoT Consulting Service
o IoT Infrastructure Service
o System Designing & Integration Service
o Support & Maintenance Service
o Education & Training Service
Market Segment By Organization Size with focus on market share, consumption trend, and growth rate of IoT Professional Services Market:
o SMEs
o Large Enterprises
Market Segment By end-user with a focus on market share, consumption trend, and growth rate of the IoT Professional Services Market:
o IT & Telecom
o Retail
o Manufacturing
o Healthcare
o BFSI
o Others
Parameters Details
Market Size (2022) $ 120.3 Billion
CAGR (2023 to 2033) 7.2%
Market Segmentation Service Type, Organization Size, End User
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America
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Global IoT Professional Services Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic Countries
o Benelux
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Australia
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence provides an understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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