Market Research Future (MRFR) has published a cooked research report on the “Global IoT Professional Services Market” that contains information from 2018 to 2030. The IoT Professional Services market is estimated to register a CAGR of 7.3% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global IoT Professional Services market— Siemens AG, SAP SE, Oracle Corporation, IBM Corporation, Cisco Systems, Inc, Robert Bosch GmBH, PTC Inc, Microsoct Corporation, Intel Corporation, Amazon Web Services, Inc, Confidex, Litmus, Samsara, Losant, Hologram, Clearblade, Telit, HQ Particle, GE Digital and AWS
The global IoT Professional Services market is accounted to register a CAGR of 7.3% during the forecast period and is estimated to reach USD 182.4 Billion by 2030.
The IoT Professional Services Market refers to the industry that provides specialized consulting and implementation services for organizations looking to adopt and optimize Internet of Things (IoT) technologies. These services include strategy development, solution architecture, system integration, and ongoing support to help businesses leverage the full potential of IoT solutions.
The global IoT Professional Services market has been segmented based on Components, Organization Site, Deployment and End-User
Based on components, the market is segmented into Solution and Service. the biggest market revenue share with rising consumer needs, improved platforms, improved network connectivity, developed servers, and more applications, all using highly developed technologies.
Based on organization site, the global IoT Professional Services market has been segmented into Large Enterprises and Small Enterprises. the greatest market share holders, large-scale businesses, are seeing rising IoT growth rates, advanced developed technologies, and increased adoption of new advanced developed technologies.
Based on deployment, the global IoT Professional Services market has been segmented into On-Premise and Cloud. With rising customer demands for better network connectivity to facilitate workflow, advanced developed technologies, increased security, and improved solutions with the highest market growth, the on-premises sector is experiencing the largest market growth.
Based on end-user, the global IoT Professional Services market has been segmented into Manufacturing, IT & Telecom, Transport & Logistics, Healthcare, Energy & Utility, Retail, E-Commerce, & Consumer Electronics and Others. Due to expanded IoT installation, newly developed software technologies used in the healthcare sector, higher workload requirements, and simple access to the patient's personal medical history, the healthcare sector holds the highest market share.
The global IoT Professional Services market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe IoT Professional Services market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The IoT Professional Services market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World IoT Professional Services market comprises of Middle East, Africa, and Latin America.
The North America IoT Professional Services Market dominated this market in 2022. This nation's economies are stable and strong, enabling it to make significant investments in R&D operations and consequently support the creation of new technology.
IoT utilities are anticipated to grow over the projection period as smart grids prepare to take over the nation's entire energy sector.
In order to remain competitive in such a rapidly changing market, consumers and utility providers have been pushed to make their services smart and suited for the next generation of home builders and owners. These incentives include tax breaks and savings on home insurance.
Additionally, North America has a much higher level of awareness of IoT and digital solutions in various industries. A recent Mendix study indicates that 78% of US manufacturing employees support digitalization. Additionally, eight out of ten manufacturing workers are eager to pick up new digital skills.