“IoT Professional 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 professional 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.
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Where is the largest and fastest growing market for iot professional 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 professional 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.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Service Type: IoT Consulting Service; IoT Infrastructure Service; System Designing and Integration Service; Support and Maintenance Service; Education and Training Service
- 2) By Deployment Type: Cloud; On-Premises
- 3) By Organization Size: Small and Medium Enterprises (SMEs); Large Enterprises
- 4) By Application: Smart Buildings; Smart Manufacturing; Smart Transport and Logistics; Smart Healthcare; Smart Retail; Other Applications
- Companies Mentioned: Atos SE; Capgemini SE; Cognizant Technology; Deloitte Touche Tohmatsu Limited; IBM 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 IoT professional services market are: Atos SE, Capgemini SE, Cognizant Technology, Deloitte Touche Tohmatsu Limited, IBM Corporation, Infosys Limited, NTT DATA Corporation, AT&T Inc., Happiest Minds, Mindtree Ltd., General Electric, Tech Mahindra, Ernst & Young Global Limited, Oracle Corporation, Vodafone Group plc, and Tata Consultancy Services Limited.
The global IoT professional services market is expected to grow from $135.95 billion in 2022 to $151.75 billion in 2023 at a compound annual growth rate (CAGR) of 11.6%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The IoT professional services market is expected to grow to $236.25 billion in 2027 at a CAGR of 11.7%.
The IoT professional services market includes revenues earned by entities by providing device optimization services, device test and support services, connected infrastructure, digital strategy services. 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.
IoT professional services refer to a set of services provided by software companies to develop and support their own or third-party IoT applications to automate and optimize corporate operations. IoT professional services aid in easily defining, designing, and launching an organization's initiatives. The IoT professional services are used to deploy IoT applications to different industry verticals for smooth operations.
North America was the largest region in the IoT professional services market in 2022. The regions covered in the IoT professional services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major service types in IoT professional services are IoT consulting service, IoT infrastructure service, system designing and integration service, support and maintenance service and education and training service. IoT consulting services refers to providing IoT-based solutions to various enterprises. The main deployment types include cloud and on-premises. The main organization size are small and medium enterprises (SMEs) and large enterprises. The major applications are smart buildings, smart manufacturing, smart transport and logistics, smart healthcare, smart retail and others.
The rapidly growing number of IoT connections is expected to propel the growth of the IoT professional services market going forward. The Internet of Things (IoT) refers to a network of physical objects that are implanted with sensors, software, and other technologies to connect and exchange data with other devices and systems over the internet. The professional services IoT connected devices ingests device data and transform it into insightful knowledge that can offer operators a full range of product analytics and help manufacturers build new products. For instance, according to the data published by DataProt, a US-based review site providing reliable information about various cybersecurity technologies, in 2021, there were over 10 billion active IoT devices globally and this is expected to reach 25.4 billion by 2025. Therefore, a rapidly growing number of IoT connections is driving the growth of the IoT professional services market.
Technological advancements are a key trend gaining popularity in the IoT professional services market. Major companies operating in the IoT professional services market are integrating various technologies to sustain their position in the market. For instance, in December 2020, Tata Consultancy Services (TCS), an India-based IT services, consulting, and business solutions firm launched TCS Clever Energy, an IoT-based enterprise-level energy and emission management system powered by AI and cloud technology. It has strong data acquisition capability to connect heterogeneous Operations Technology (OT) and Information Technology (IT) systems across the enterprise, an in-built Digital Twin setup, and AI/ML-based data models with augmenting capabilities. TCS Clever Energy's unique features provide an integrated view and assist organizations in making intelligent decisions using predictive analytics to become more sustainable, ensure energy and cost efficiency, and reduce carbon emissions.
In April 2022, ACL Digital, a US-based technology consulting and engineering services company, acquired VOLANSYS for an undisclosed amount. Through this acquisition, ACL Digital enhances its capabilities and strengthens its position as a service provider in the Product Engineering, Digital Transformation, and IoT sectors. VOLANSYS is a US-based company that provides end-to-end IoT professional services to enterprises and OEMs worldwide, starting from concept to realization and testing to deployment.
The countries covered in the IoT professional 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 the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The IoT professional services market research report is one of a series of new reports from The Business Research Company that provides IoT professional services market statistics, including IoT professional services industry global market size, regional shares, competitors with IoT professional services market share, detailed IoT professional services market segments, market trends, and opportunities, and any further data you may need to thrive in the IoT professional services industry. This IoT professional services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Table of Contents
1. Executive Summary
2. IoT Professional Services Market Characteristics
3. IoT Professional Services Market Trends And Strategies
4. IoT Professional Services Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On IoT Professional Services Market
- 4.2. Ukraine-Russia War Impact On IoT Professional Services Market
- 4.3. Impact Of High Inflation On IoT Professional Services Market
5. IoT Professional Services Market Size And Growth
- 5.1. Global IoT Professional Services Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global IoT Professional Services Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. IoT Professional Services Market Segmentation
- 6.1. Global IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- IoT Consulting Service
- IoT Infrastructure Service
- System Designing and Integration Service
- Support and Maintenance Service
- Education and Training Service
- 6.2. Global IoT Professional Services Market, Segmentation By Deployment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Cloud
- On-Premises
- 6.3. Global IoT Professional Services Market, Segmentation By Organization Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Small and Medium Enterprises (SMEs)
- Large Enterprises
- 6.4. Global IoT Professional 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
- Other Applications
7. IoT Professional Services Market Regional And Country Analysis
- 7.1. Global IoT Professional Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global IoT Professional Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific IoT Professional Services Market
- 8.1. Asia-Pacific IoT Professional 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 Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China IoT Professional Services Market
- 9.1. China IoT Professional Services Market Overview
- 9.2. China IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India IoT Professional Services Market
- 10.1. India IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan IoT Professional Services Market
- 11.1. Japan IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia IoT Professional Services Market
- 12.1. Australia IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia IoT Professional Services Market
- 13.1. Indonesia IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea IoT Professional Services Market
- 14.1. South Korea IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe IoT Professional Services Market
- 15.1. Western Europe IoT Professional Services Market Overview
- 15.2. Western Europe IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK IoT Professional Services Market
- 16.1. UK IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany IoT Professional Services Market
- 17.1. Germany IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France IoT Professional Services Market
- 18.4. France IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.5. France IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe IoT Professional Services Market
- 19.1. Eastern Europe IoT Professional Services Market Overview
- 19.2. Eastern Europe IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia IoT Professional Services Market
- 20.1. Russia IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America IoT Professional Services Market
- 21.1. North America IoT Professional Services Market Overview
- 21.2. North America IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA IoT Professional Services Market
- 22.1. USA IoT Professional Services Market Overview
- 22.2. USA IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America IoT Professional Services Market
- 23.1. South America IoT Professional Services Market Overview
- 23.2. South America IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil IoT Professional Services Market
- 24.1. Brazil IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East IoT Professional Services Market
- 25.1. Middle East IoT Professional Services Market Overview
- 25.2. Middle East IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa IoT Professional Services Market
- 26.1. Africa IoT Professional Services Market Overview
- 26.2. Africa IoT Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa IoT Professional Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. IoT Professional Services Market Competitive Landscape And Company Profiles
- 27.1. IoT Professional Services Market Competitive Landscape
- 27.2. IoT Professional Services Market Company Profiles
- 27.2.1. Atos SE
- 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. Capgemini SE
- 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. Cognizant Technology
- 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. Deloitte Touche Tohmatsu Limited
- 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. IBM 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 Professional Services Market
29. IoT Professional 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