WESTFORD, Mass., July 1, 2024
/PRNewswire/ -- According to SkyQuest, global Internet of Things
(IoT) Professional Service Market size was valued at USD 116.7 billion in 2022 poised to grow from
USD 124.1 billion in 2023 to
USD 203.96 billion by 2031, growing
at a CAGR of 6.4% in the forecast period (2024-2031).
The growing deployment of Internet of Things (IoT) devices
around the world has bolstered the demand for internet of things
(IoT) professional services around the world. Increasing emphasis
on IoT-enabled digital transformation and high use of edge and
cloud computing are also creating an opportune setting for internet
of things (IoT) professional service providers around the world.
The global internet of things (IoT) professional service market is
segmented into service type, deployment type, organization size,
application, and region.
Download a detailed overview:
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Internet of Things (IoT) Professional Service Market
Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 124.1
billion
|
Estimated Value by
2031
|
$ 203.96
billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 6.4%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Service Type,
Organization Size, Application, and Deployment Type
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin
America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Increasing demand for
IoT-enabled digital transformation of businesses
|
Key Market
Drivers
|
Growing need for data
analytics and loT is a driving factor of market
expansion
|
Segments covered in Internet of Things (IoT) Professional
Service Market are as follows:
- Service Type
-
- IoT Consulting Services (Technology Consulting Services,
Business Consulting Services, Operational Consulting Services), IoT
Infrastructure Services (Network Services, Deployment Services,
Cloud Services), System Designing and Integration Services
(Platform Development and Integration, Mobile and Web Application
Development), Support and Maintenance Services, Others
- Organization Size
-
- Large Enterprises, Small and Medium-Sized Enterprises
- Application
-
- Smart Building, Smart Manufacturing, Smart Transport &
Logistics, Smart Healthcare, Smart Retail and Smart Energy
- Deployment Type
-
Request Free Customization of this report:
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Cloud Deployment is Preferred by Internet of Things (IoT)
Professional Service Companies for its Scalability and
Flexibility
The cost benefits of cloud platforms and technologies outweigh
any other type of deployment, and this is why IoT professional
service providers should focus on this type of deployment. As cloud
use increases, the need for services for the same also rises,
generating new opportunities for market players. Integration and
interoperability management along with security are some key cloud
services that companies should focus on going forward. Meanwhile,
on-premises deployment will also offer substantial opportunities
for internet of things (IoT) professional service providers in the
future.
View report summary and Table of Contents
(TOC):
https://www.skyquestt.com/report/internet-of-things-professional-service-market
Emphasis on Improving Manufacturing Efficiency Makes the
Smart Manufacturing Application Highly Attractive
The manufacturing industry is undergoing some major changes, and
the high adoption of automation is a key catalyst for internet of
things (IoT) professional service demand. IoT technology is a key
component of any smart manufacturing facility and therefore the
requirement for IoT professional services will be very high in
these settings. Meanwhile, smart transportation and logistics,
smart healthcare, smart energy, and smart retail are some other
applications where new and established internet of things (IoT)
professional service companies can succeed soon.
High Spending Potential of Large Enterprises Allows them to
Hold Sway Over IoT Professional Service Demand
Large enterprises are at the forefront of IoT adoption as they
move towards automation. These establishments have high spending
potential, and this is why they are the preferred client for any
internet of things (IoT) professional service company. The rising
use of cloud technologies and the need to integrate, maintain, and
repair certain IoT networks and devices will bolster the demand for
internet of things (IoT) professional services in large
enterprises.
Small and medium enterprises (SMEs) are also predicted to offer
highly rewarding business scope for IoT service providers as IoT
adoption increases in these establishments. Growing focus on
improving resource utilization and availability of
subscription-based models for cloud services will also favor the
demand for IoT services in the future.
Internet of things (IoT) professional service companies need to
understand customer requirements to improve their revenue
generation to its full potential. Companies can also capitalize on
the growing investments in IoT technologies to improve their
business scope. Consulting and integration services are projected
to take center stage for all internet of things (IoT) professional
service providers as these services could help companies increase
their market share.
Related Reports:
Internet Of Things (IoT) Market
IoT Sensors Market
IoT Security Market
IoT In Healthcare Market
Industrial Internet Of Things (IIoT) Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
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Westford,
Massachusetts 01886
USA (+1) 351-333-4748
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SOURCE SkyQuest Technology