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PUBLISHER: The Business Research Company | PRODUCT CODE: 1217238

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PUBLISHER: The Business Research Company | PRODUCT CODE: 1217238

IoT Services Global Market Report 2023

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“IoT Services Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on iot services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for iot services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The iot services market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Professional Services; Managed Services

2) By Vertical: Manufacturing; Retail; IT & Telecom; Transportation & Logistics; Utilities; Healthcare; Energy; Other Verticals

3) By Application: Smart Buildings; Smart Manufacturing; Smart Transport and Logistics; Smart Healthcare; Smart Retail; Smart Energy

Companies Mentioned: Cisco Systems; Cognizant; Google; Infosys; Tieto Corporation

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the internet of things (IoT) services market are: Cisco Systems; Cognizant; Google; Infosys; Tieto Corporation; Virtusa Corporation; Accenture PLC; IBM; Tech Mahindra; Harman International Industries; Microsoft; Wipro; Hcl Technologies; Tata Consultancy Services Limited; AT and T; Honeywell International Inc.; Amazon; HP (Hewlett Packard); Intel Security Group; Apple and Qualcomm.

The global iot services market will grow from $188.8 billion in 2022 to $214.47 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The iot services market is expected to grow to $400.78 billion in 2027 at a CAGR of 16.9%.

The Internet of Things (IoT) services market includes revenues earned by entities by providing IoT services that are used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction.

Asia Pacific was the largest region in the internet of things (IoT) services market in 2022. North America was the second largest region in the internet of things (IoT) services market. The regions covered in the internet of things (IoT) services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of internet of things (IoT) services are professional services and managed services. A professional service is an intangible product that a contractor or product vendor sells to help a customer manage a specific part of their business. The various type of verticals are manufacturing, retail, IT & telecom, transportation & logistics, utilities, healthcare, energy, and others. The various applications of internet of things (IoT) services are smart buildings, smart manufacturing, smart transport and logistics, smart healthcare, smart retail, and smart energy.

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.

Low enterprise adoption is expected to hinder the IoT services market. Even though IoT has found it useful in many vertical industries, the enterprise adoption is low due to many factors such as little or no awareness, the involvement of more humans in the operating system gives a less or no room for automation and most importantly due to security concerns regarding the data. For instance, in October 2020, according to a research conducted by Bitdefender, a Romania-based cybersecurity company, 42% of the companies surveyed stated that they are following a "wait and see" strategy to observe the effect of IoT and 33% of businesses that are still on the fence about adopting IoT say they are unsure of the benefits for their industry. Low enterprise adoption thereby restrains the IoT services market.

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.

In September 2020, Accenture, an Ireland-based leading global professional service provider that provides strategy, digital, and technology services, has acquired cloud industrial Internet of Things consultancy SALT Solutions, headquartered in Wurzburg, Germany for an undisclosed amount to expand its IoT services. The acquisition is expected to build cloud-based IoT platforms that "speed up and optimize clients' production and logistics". SALT Solutions will help clients improve how they operate factories and plants. SALT implements and maintains IT systems for production, operations and logistics at various companies such as automotive, manufacturing, consumer goods, chemicals and other companies.

The countries covered in the internet of things (IoT) services market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The internet of things (IoT) services market research report is one of a series of new reports from The Business Research Company that provides internet of things (IoT) services market statistics, including internet of things (IoT) services industry global market size, regional shares, competitors with an internet of things (IoT) services market share, detailed internet of things (IoT) services market segments, market trends and opportunities, and any further data you may need to thrive in the internet of things (IoT) services industry. This internet of things (IoT) services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Product Code: r2346

Table of Contents

1. Executive Summary

2. IoT Services Market Characteristics

3. IoT Services Market Trends And Strategies

4. IoT Services Market - Macro Economic Scenario

4.1 COVID-19 Impact On IoT Services Market

4.2 Ukraine-Russia War Impact On IoT Services Market

4.3 Impact Of High Inflation On IoT Services Market

5. IoT Services Market Size And Growth

  • 5.1. Global IoT Services Historic Market, 2017-2022, $ Billion
    • 5.1.1. Drivers Of The Market
    • 5.1.2. Restraints On The Market
  • 5.2. Global IoT Services Forecast Market, 2022-2027F, 2032F, $ Billion
    • 5.2.1. Drivers Of The Market
    • 5.2.2. Restraints On the Market

6. IoT Services Market Segmentation

  • 6.1. Global IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Professional Services
  • Managed Services
  • 6.2. Global IoT Services Market, Segmentation By Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Manufacturing
  • Retail
  • IT & Telecom
  • Transportation & Logistics
  • Utilities
  • Healthcare
  • Energy
  • Other Verticals
  • 6.3. Global IoT Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Smart Buildings
  • Smart Manufacturing
  • Smart Transport and Logistics
  • Smart Healthcare
  • Smart Retail
  • Smart Energy

7. IoT Services Market Regional And Country Analysis

  • 7.1. Global IoT Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 7.2. Global IoT Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific IoT Services Market

  • 8.1. Asia-Pacific IoT Services Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
  • 8.2. Asia-Pacific IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China IoT Services Market

  • 9.1. China IoT Services Market Overview
  • 9.2. China IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India IoT Services Market

  • 10.1. India IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan IoT Services Market

  • 11.1. Japan IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia IoT Services Market

  • 12.1. Australia IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia IoT Services Market

  • 13.1. Indonesia IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea IoT Services Market

  • 14.1. South Korea IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe IoT Services Market

  • 15.1. Western Europe IoT Services Market Overview
  • 15.2. Western Europe IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK IoT Services Market

  • 16.1. UK IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany IoT Services Market

  • 17.1. Germany IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France IoT Services Market

  • 18.1. France IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe IoT Services Market

  • 19.1. Eastern Europe IoT Services Market Overview
  • 19.2. Eastern Europe IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia IoT Services Market

  • 20.1. Russia IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America IoT Services Market

  • 21.1. North America IoT Services Market Overview
  • 21.2. North America IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA IoT Services Market

  • 22.1. USA IoT Services Market Overview
  • 22.2. USA IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America IoT Services Market

  • 23.1. South America IoT Services Market Overview
  • 23.2. South America IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil IoT Services Market

  • 24.1. Brazil IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East IoT Services Market

  • 25.1. Middle East IoT Services Market Overview
  • 25.2. Middle East IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa IoT Services Market

  • 26.1. Africa IoT Services Market Overview
  • 26.2. Africa IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. IoT Services Market Competitive Landscape And Company Profiles

  • 27.1. IoT Services Market Competitive Landscape
  • 27.2. IoT Services Market Company Profiles
    • 27.2.1. Cisco Systems
      • 27.2.1.1. Overview
      • 27.2.1.2. Products and Services
      • 27.2.1.3. Strategy
      • 27.2.1.4. Financial Performance
    • 27.2.2. Cognizant
      • 27.2.2.1. Overview
      • 27.2.2.2. Products and Services
      • 27.2.2.3. Strategy
      • 27.2.2.4. Financial Performance
    • 27.2.3. Google
      • 27.2.3.1. Overview
      • 27.2.3.2. Products and Services
      • 27.2.3.3. Strategy
      • 27.2.3.4. Financial Performance
    • 27.2.4. Infosys
      • 27.2.4.1. Overview
      • 27.2.4.2. Products and Services
      • 27.2.4.3. Strategy
      • 27.2.4.4. Financial Performance
    • 27.2.5. Tieto Corporation
      • 27.2.5.1. Overview
      • 27.2.5.2. Products and Services
      • 27.2.5.3. Strategy
      • 27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The IoT Services Market

29. IoT Services Market Future Outlook and Potential Analysis

30. Appendix

  • 30.1. Abbreviations
  • 30.2. Currencies
  • 30.3. Historic And Forecast Inflation Rates
  • 30.4. Research Inquiries
  • 30.5. The Business Research Company
  • 30.6. Copyright And Disclaimer
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