IoT Services Global Market Report 2024 - By Trends, Size, Demand, Insights, Forecast To 2033

"The new report published by The Business Research Company, titled IoT Services Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the iot services market size has grown rapidly in recent years. It will grow from $214.47 billion in 2023 to $249.12 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The iot services market size is expected to see rapid growth in the next few years. It will grow to $470.42 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%.

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IOT Service Market Growth Fueled By Increasing Iot Use Cases And Applications
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.

Enhancing Iot Workload Deployment With Edge And Cloud Computing Solutions
Edge or cloud computing is enhancing the deployment of workload on IoT devices. Edge or cloud computing is a solution that facilitates data processing and data storage in the cloud. For instance, Microsoft recently released its Azure IoT Edge, a managed service built on Azure IoT Hub that deploys the workloads like artificial intelligence, third party services, or own business logic on cloud and runs the workload on IoT edge device. Edge devices spend less time communicating with the cloud and react quickly to changes and operate reliably. Amazon provides two IoT software FreeRTOS and AWS IoT Greengrass, AWS IoT Greengrass extends AWS to the edge devices and they can act locally by generating the data and FreeRTOS is open source and operating system used for microcontrollers that makes low power edge devices easy to secure, deploy and manage.

The iot services market covered in this report is segmented -
1) By Type: Professional Services, Managed Services
2) By Application: Smart Buildings, Smart Manufacturing, Smart Transport and Logistics, Smart Healthcare, Smart Retail, Smart Energy
3) By Vertical: Manufacturing, Retail, IT & Telecom, Transportation & Logistics, Utilities, Healthcare, Energy, Other Verticals

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Major companies operating in the iot services market include Cisco Systems Inc., Cognizant Technology Solutions Corporation, Google LLC, Infosys Limited, Tieto Corporation, Virtusa Corporation, Accenture* plc, International Business Machines Corporation (IBM), Tech Mahindra Limited, Harman International Industries Incorporated, Microsoft Corporation, Wipro Limited, HCL Technologies Limited, Tata Consultancy Services Limited, AT&T Inc., Honeywell International Inc., Amazon.com Inc., HP Inc., Intel Security Group, Apple Inc., Qualcomm Incorporated, Vates Inc., Oxagile LLC, Verizon Communications Inc., HQSoftware LLC, General Electric Digital LLC, Bosch IoT Sensor Company GmbH, Arm Limited, Sierra Wireless Inc., PTC Inc., Telit Communications PLC, SoluLab Inc., Amazon Web Services Inc., Oracle Corporation, Qualcomm Technologies Inc., Telefonaktiebolaget LM Ericsson, Hewlett-Packard Company Inc., Marvell Technology Group Ltd., Nlyte Software Inc., Western Digital Corporation, Broadcom Inc., NVIDIA Corporation, OVHcloud Co., Tencent Holdings Limited, Alibaba Group Holding Limited, Meta Platforms Inc., Equinix Inc., Digital Realty Trust Inc., CyrusOne Inc.

Contents of the report:
1. Executive Summary
2. IoT Services Market Report Structure
3. IoT Services Market Trends And Strategies
4. IoT Services Market - Macro Economic Scenario
5. IoT Services Market Size And Growth
…..
27. IoT Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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