PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1579834
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1579834
Internet of Things (IoT) Engineering Services
Global Internet of Things (IoT) Engineering Services Market to Reach US$242.2 Billion by 2030
The global market for Internet of Things (IoT) Engineering Services estimated at US$62.7 Billion in the year 2023, is expected to reach US$242.2 Billion by 2030, growing at a CAGR of 21.3% over the analysis period 2023-2030. Product Engineering Services, one of the segments analyzed in the report, is expected to record a 22.6% CAGR and reach US$66.0 Billion by the end of the analysis period. Growth in the Cloud Engineering Services segment is estimated at 20.9% CAGR over the analysis period.
The U.S. Market is Estimated at US$17.9 Billion While China is Forecast to Grow at 20.6% CAGR
The Internet of Things (IoT) Engineering Services market in the U.S. is estimated at US$17.9 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$37.1 Billion by the year 2030 trailing a CAGR of 20.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 18.9% and 17.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.5% CAGR.
Global Internet of Things (IoT) Engineering Services Market - Key Trends and Drivers Summarized
Why Are Internet of Things (IoT) Engineering Services Important for IoT Project Success?
IoT engineering services are critical for the successful design, development, and deployment of IoT solutions. These services encompass everything from hardware design and sensor integration to software development and cloud integration, ensuring that IoT systems function efficiently and reliably. As businesses across various industries increasingly adopt IoT, the need for customized engineering services that address specific use cases is growing. IoT engineering services are particularly important in sectors like manufacturing, healthcare, and transportation, where systems must be designed to handle complex operations and large-scale device deployments. These services ensure that IoT solutions are tailored to the specific needs of businesses and industries, maximizing the value of IoT investments.
How Are Technological Advancements Shaping the IoT Engineering Services Market?
Technological advancements are significantly expanding the scope and capabilities of IoT engineering services. The rise of edge computing and AI integration is driving demand for IoT systems that can process data in real-time and make autonomous decisions. This requires specialized engineering expertise to develop systems that combine AI algorithms, sensors, and network technologies. Additionally, advancements in low-power, high-efficiency chipsets are enabling the development of energy-efficient IoT devices, which require engineering services to optimize hardware and software for power management. Cloud-based platforms are also playing a crucial role by providing scalable solutions for data storage and analytics, while cybersecurity advancements ensure that IoT systems are protected from cyber threats. These innovations are making IoT engineering services more complex and specialized, increasing the demand for expert support.
How Do Market Segments Define the Growth of the IoT Engineering Services Market?
Service types include product engineering, cloud engineering, data analytics services, and security engineering, with product engineering leading the market due to the need for customized hardware and software development. End-use industries include healthcare, automotive, energy, and industrial manufacturing, with the industrial sector driving significant demand for IoT engineering services to support automation and predictive maintenance. Regions like North America and Europe dominate the market, where businesses are heavily investing in digital transformation initiatives and large-scale IoT deployments. However, Asia-Pacific is emerging as a key growth region due to the rapid adoption of IoT technologies across industries.
What Factors Are Driving the Growth in the IoT Engineering Services Market?
The growth in the IoT engineering services market is driven by several factors, including the increasing complexity of IoT projects, the need for customized solutions, and the growing adoption of AI and edge computing. As IoT solutions become more advanced, businesses require specialized engineering services to design, develop, and deploy systems that meet their unique operational needs. The rise of AI and edge computing is also fueling demand for IoT engineering services that can integrate these technologies into real-time decision-making systems. Additionally, the growing trend toward digital transformation across industries is driving investments in IoT, further increasing the need for expert engineering services that can ensure successful IoT implementations.
Select Competitors (Total 36 Featured) -
- Accenture PLC
- AGT
- Arrow Sustainable Technology Solutions
- AT&T
- Atos SE
- Bosch
- Capgemini
- CGI
- Cisco
- Cognizant
- Dell Technologies Inc
- Deloitte
- EPAM Systems, Inc
- Ericsson
- Globecomm
- Harman International Industries
- Infosys
- Integron
- Jetter AG
- Lochbridge Inc
- Luxoft Holding Inc
- NIIT Technologies
- NTT Data Corporation
- Rogers Communication Inc
- Tata Consultancy Services
- Tech Mahindra
- Tech Mahindra
- Tieto Corporation
- Verizon Enterprise Solutions
- Virtusa Corporation
- Vodafone Global PLC
- Wind River
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Internet of Things (IoT) Engineering Services - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Rising Demand for Custom IoT Solutions Drives Growth in IoT Engineering Services Market
- Technological Advancements in IoT System Design Strengthen Business Case for Engineering Services
- Growing Focus on Product Prototyping and Testing Fuels Demand for IoT Engineering Services
- Expansion of IoT in Industrial Automation and Smart Manufacturing Drives Market Growth
- Increasing Need for End-to-End IoT Solutions Expands Addressable Market for Engineering Services
- Focus on Integrating IoT with Legacy Systems Spurs Demand for Engineering Expertise
- Rising Demand for Hardware and Firmware Design Services Fuels IoT Engineering Services Market
- Growing Adoption of IoT in Connected Vehicles Expands Opportunities for Engineering Services
- Technological Advancements in Sensor Integration and Data Collection Strengthen Demand for Services
- Rising Use of AI and Machine Learning in IoT Solutions Fuels Demand for Engineering Services
- Focus on Optimizing Power Consumption and Battery Life in IoT Devices Propels Engineering Service Demand
- Expansion of Smart Home, Smart Cities, and IoT-Based Infrastructure Drives Engineering Service Growth
- Increasing Focus on Interoperability and IoT Standards Compliance Strengthens Market for IoT Engineering Services
- Growing Demand for IoT System Security and Privacy Solutions Fuels Market for Engineering Services
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 2: World 7-Year Perspective for Internet of Things (IoT) Engineering Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
- TABLE 3: World Recent Past, Current & Future Analysis for Product Engineering by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 4: World 7-Year Perspective for Product Engineering by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 5: World Recent Past, Current & Future Analysis for Cloud Engineering by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 6: World 7-Year Perspective for Cloud Engineering by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 7: World Recent Past, Current & Future Analysis for Experience Engineering by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 8: World 7-Year Perspective for Experience Engineering by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 9: World Recent Past, Current & Future Analysis for Analytics Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 10: World 7-Year Perspective for Analytics Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 11: World Recent Past, Current & Future Analysis for Maintenance Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 12: World 7-Year Perspective for Maintenance Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 13: World Recent Past, Current & Future Analysis for Security Engineering by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 14: World 7-Year Perspective for Security Engineering by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 15: World Recent Past, Current & Future Analysis for Other Service Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 16: World 7-Year Perspective for Other Service Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
- TABLE 17: World Internet of Things (IoT) Engineering Services Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
- UNITED STATES
- Internet of Things (IoT) Engineering Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 18: USA Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 19: USA 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- CANADA
- TABLE 20: Canada Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 21: Canada 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- JAPAN
- Internet of Things (IoT) Engineering Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 22: Japan Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 23: Japan 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- CHINA
- Internet of Things (IoT) Engineering Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 24: China Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 25: China 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- EUROPE
- Internet of Things (IoT) Engineering Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 26: Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 27: Europe 7-Year Perspective for Internet of Things (IoT) Engineering Services by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
- TABLE 28: Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 29: Europe 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- FRANCE
- Internet of Things (IoT) Engineering Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 30: France Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 31: France 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- GERMANY
- Internet of Things (IoT) Engineering Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 32: Germany Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 33: Germany 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- ITALY
- TABLE 34: Italy Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 35: Italy 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- UNITED KINGDOM
- Internet of Things (IoT) Engineering Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 36: UK Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 37: UK 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- REST OF EUROPE
- TABLE 38: Rest of Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 39: Rest of Europe 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- ASIA-PACIFIC
- Internet of Things (IoT) Engineering Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 40: Asia-Pacific Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 41: Asia-Pacific 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
- REST OF WORLD
- TABLE 42: Rest of World Recent Past, Current & Future Analysis for Internet of Things (IoT) Engineering Services by Service Type - Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 43: Rest of World 7-Year Perspective for Internet of Things (IoT) Engineering Services by Service Type - Percentage Breakdown of Value Sales for Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering and Other Service Types for the Years 2024 & 2030
IV. COMPETITION
