Emerging Trends Influencing The Growth Of The IoT Professional Services Market: IOT Solutions For Sustainability Solutions Transforming The IOT Professional Services Market

The IoT Professional Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the IoT Professional Services Market?
The market size of IoT professional services has seen robust expansion lately. The market is anticipated to rise from its value of $164.33 billion in 2024 to reach $180.75 billion in 2025 with a compound annual growth rate (CAGR) of 10.0%. This acceleration experienced in the past is due to factors such as the increased need for connectivity, security issues, a spike in the demand for professional services, the adoption of smart devices, as well as the expansion of e-commerce and online retail.

We anticipate a swift escalation in the size of the IoT professional services market in the forthcoming years. The projections estimate a growth to $307.29 billion by 2029, with a compound annual growth rate (CAGR) of 14.2%. Factors contributing to such advancement in the forecast period include the adoption of 5G technology, the increased focus on customer experience enhancement, the spread of smart cities, the emergence of autonomous devices, and the intensified complexity of cyber threats. The forecast period will also see dominant trends such as digital twins, the amalgamation of augmented reality (AR) and virtual reality (VR), the rise of artificial intelligence, blockchain technology integration, and human augmentation.

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What Are the Different IoT Professional Services Market Segments?
The IoT professional services market covered in this report is segmented -

1) By Service Type: IoT Consulting Service, IoT Infrastructure Service, System Designing And Integration Service, Support And Maintenance Service, Education And Training Service
2) By Deployment Type: Cloud, On-Premises
3) By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
4) By Application: Smart Buildings, Smart Manufacturing, Smart Transport and Logistics, Smart Healthcare, Smart Retail, Other Applications

Subsegments:
1) By IoT Consulting Service: Business Consulting, Technology Consulting, Strategy Development, Feasibility Assessment
2) By IoT Infrastructure Service: Network Infrastructure Setup, Cloud Infrastructure Management, Security Infrastructure Implementation
3) By System Designing And Integration Service: IoT Solution Design, Device And Platform Integration, Data Integration And Middleware Services
4) By Support And Maintenance Service: Remote Monitoring And Support, Troubleshooting And Issue Resolution, Software Updates And Patches
5) By Education And Training Service: IoT Training Programs, Technical Workshops, Certification Programs

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What Are the Primary Drivers Shaping the IoT Professional Services Market?
The IoT market is expanding due to its application in various domains, including the automotive industry. The incorporation of IoT into the automotive sector has paved the way for new opportunities for both vehicle manufacturers and consumers across the globe. The automotive field has become a sought-after area for diverse multifunctional applications leveraging IoT, which enables improved communication, control and data transfer at any point of transportation. Well-known companies such as Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are ramping up their investments in the creation of smart cars featuring advanced capabilities for a safer, more comfortable and enjoyable driving experience. As per UBS, it's expected that by 2030, autonomous taxi fleets will account for 12% of total car sales, equating to around 26 million driverless taxis operating globally.

Which Companies Are Leading in the IoT Professional Services Market?
Major companies operating in the IoT professional services market include Google LLC, Microsoft Corporation, AT&T Inc., Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, accenture* plc, IBM Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers LLP, Cisco Systems Inc., Vodafone Group plc, Ernst & Young Global Limited, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., KPMG International Ltd., Tata Consultancy Services Limited., Fujitsu Limited, NEC Corporation, NTT DATA Corporation, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Technology Company, Atos SE, Wipro Limited, HCL Technologies Limited, Tech Mahindra Limited, LTIMindtree Ltd., Happiest Minds Technology Ltd.

What Are the Major Trends Shaping the IoT Professional Services Market?
In the competitive IoT professional services market, major companies are introducing novel solutions like IoT Services for Sustainability. These services encompass a variety of IoT offerings specifically crafted to address environmental and social sustainability issues. For instance, in May 2022, Japan's Nippon Telegraph and Telephone launched IoT services for sustainability, an inclusive range of solutions intended to assist businesses in reaching their sustainability targets. The comprehensive suite includes features such as OCR Meter Reading, Water Leak Management, Predictive Maintenance, and Environmental Monitoring. These services are provided through NTT's LoRaWAN network and ensure secure IT or OT integration. The benefits offered include energy cost savings, decreased emissions, operational efficiency, and enhanced work enablement. Such developments reflect the increasing focus on harnessing IoT technologies to tackle climate change and achieve sustainability goals.

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What Are the Top Revenue-Generating Geographies in the IoT Professional Services Market?
North America was the largest region in the IoT professional services market in 2024. The regions covered in the IoT professional services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the IoT Professional Services Market?
2. What is the CAGR expected in the IoT Professional Services Market?
3. What Are the Key Innovations Transforming the IoT Professional Services Industry?
4. Which Region Is Leading the IoT Professional Services Market?

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