IoT Professional Services Market expected to reach USD 226.8 billion by 2032 with growing demand.
From GlobeNewswire: 2024-12-10 09:00:00
The IoT Professional Services Market was valued at USD 120.4 billion in 2023, expected to reach USD 226.8 billion by 2032 with a 7.30% CAGR. Demand is driven by industries like healthcare and retail utilizing IoT for operational efficiencies and customer experiences. Adoption of AI, ML, and edge computing further boosts demand for IoT specialists.
Businesses are increasingly relying on data analytics and cloud services to unlock insights from IoT data. IoT professional service firms assist in data management, security, and analysis, catering to the growing demand for advanced IoT solutions. Major players include Accenture, IBM, Cisco, and Deloitte, offering a wide range of services for IoT integration and support.
The cloud deployment segment holds 82.36% of the IoT Professional Services Market in 2023, offering flexibility and scalability. Cloud-based IoT solutions allow real-time data access, integration with devices, and cost-effective updates. Businesses across industries, including manufacturing and healthcare, prefer cloud adoption for connectivity, security, and operational efficiency, driving significant growth in cloud IoT services. The demand for cloud infrastructure for IoT is expected to grow due to digitalization, focusing on AI, machine learning, and 5G. IoT Professional Services Market segments include applications like smart healthcare and energy, deployment types, and service offerings like consulting and infrastructure support. North America leads with over 38% market share, while APAC is expected to grow rapidly. Recent developments include partnerships to enhance supply chain operations through IoT and AI.
Accenture partnered with a logistics company for IoT-driven smart sensors, while TCS launched a suite for manufacturers’ digital transformation. The IoT Professional Services Market report covers market dynamics, regional analysis, and company profiles. SNS Insider offers consulting services like Go To Market Assessment and Competitive Benchmarking. SNS Insider provides market research and consulting services globally, offering clients accurate market data and insights for confident decision-making.
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