IoT Services Global Market Report 2021

DUBLIN, March 1, 2022 /PRNewswire/ -- The "IoT Services Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.

This report focuses on the internet of things (IoT) services market which is experiencing strong growth. The report gives a guide to the internet of things (IoT) services market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.

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Description:

Where is the largest and fastest growing market for internet of things (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 Internet of things (IoT) services market global report 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. It places the market within the context of the wider internet of things (IoT) services market, and compares it with other markets.

• 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, the influence of the COVID-19 virus and forecasting its growth.
• Market segmentations break down 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.
• Competitive landscape 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.
• The internet of things (IoT) services market section of the report gives context. It compares the internet of things (IoT) services market with other segments of the internet of things (IoT) services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, internet of things (IoT) services indicators comparison.

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, and Harman International Industries.

The global IoT services market is expected grow from $139.24 billion in 2020 to $162.39 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $381.16 billion in 2025 at a CAGR of 24%.

The internet of things (IoT) services market consists of the sales of IoT as services and their related products. Business entities act as a support to the end-user companies by providing professional and managed services such as network management, data management platforms, infrastructure, and deployment of the IoT technology for making them automated and smarter. Internet of things (IoT) services are delivered by the IoT service providers who provide consulting, security, and analytics services as per the requirement of the business.

The IoT services market covered in this report is segmented by type into professional services, managed services and by vertical into manufacturing, retail, IT & telecom, transportation & logistics, utilities, healthcare, energy, others.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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.

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. According to the Omida data survey, only 29% of enterprises have adopted IoT solutions into their business or enterprises in 2019. Low enterprise adoption thereby restrains the IoT services market.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Key Topics Covered:

1. Executive Summary

2. IoT Services Market Characteristics

3. IoT Services Market Trends and Strategies

4. Impact Of COVID-19 On IoT Services

5. IoT Services Market Size and Growth
5.1. Global IoT Services Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global IoT Services Forecast Market, 2020-2025F, 2030F, $ 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, 2015-2020, 2020-2025F, 2030F, $ Billion

• Professional Services
• Managed Services

6.2. Global IoT Services Market, Segmentation by Vertical, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• Manufacturing
• Retail
• IT & Telecom
• Transportation & Logistics
• Utilities
• Healthcare
• Energy
• Others

6.3. Global IoT Services Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ 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, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global IoT Services Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/4k6wbl

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