IoT Professional Services Market Increasing at A Phenomenal Pace to Reach USD 212.29 Billion by 2032

Some of the key players operating in the IoT professional services are Accenture, Atos SE, IBM, Cognizant, Deloitte, TCS, NTT DATA Corporation, AT&T, Wipro, Honeywell International Inc., HCL (India), Vodafone, DXC Technology and EY Global amongst others. These players are set to bolster the development of global IoT professional services market.

According to analysts at Zion Market Research, global IoT Professional Services Market, estimating its value at USD 122.50 Billion in 2023, with projections indicating that it will reach USD 212.29 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6.3% over the forecast period 2024-2032

This review is based on a report by Zion Market Research, titled “IoT Professional Services Market by Service Type (IoT Consulting Service, IoT Infrastructure Service, System Designing & Integration Service, Support & Maintenance Service, and Education & Training Service), by Organization Size (SMEs, Large Enterprises) by Deployment Type (Cloud, On-premises) by End Use Industry (IT & Telecom, Retail, Manufacturing, Healthcare, BFSI and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032.”

Proliferation of Connected Devices and Technology to Spur Market Growth

The market is expected to grow over the forecast period owing to the proliferation of connected devices around the world and the demand for highly customised IoT professional services in the industrial and transportation sectors. Additionally, with the advent of 5G next-generation mobile connection technology, a massive IoT ecosystem can be unleashed that would allow networks to serve billions of connected devices.

Furthermore, rising need for reduction in capital and operational expenditure and increased adoption of IoT devices are some of the key driving factors predicted to flourish the growth of IoT Professional services market in the forecast period.

Presence of Big Players in The Region Support North American Dominance

With the largest share, North America was a leading regional market for IoT professional services in 2020 followed by Asia Pacific. The growth of this region is mainly attributed to increasing demand for IoT professional services owing to early adoption of trending technologies such as IoT, cloud, AI, big data, and mobility by businesses in this region. Asia Pacific is expected to grow with the highest CAGR during the analysis period.

Browse the full “IoT Professional Services Market by Service Type (IoT Consulting Service, IoT Infrastructure Service, System Designing & Integration Service, Support & Maintenance Service, and Education & Training Service), by Organization Size (SMEs, Large Enterprises) by Deployment Type (Cloud, On-premises) by End Use Industry (IT & Telecom, Retail, Manufacturing, Healthcare, BFSI and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/iot-professional-services-market

The global IoT professional services market is segmented as follows:

By Service Type

• IoT Consulting Service,
• IoT Infrastructure Service
• System Designing and Integration Service
• Support and Maintenance Service
• Education and Training Service

By Organization Size

• SMEs
• Large Enterprises

By Deployment Type

• Cloud
• On-Premises

By End Use Industry

• IT & Telecom
• Retail
• Manufacturing
• Healthcare
• BFSI
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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