According to TechSci Research report, “Europe IoT Engineering Services Market By Service, By End User Sector, By Country, Competition Forecast & Opportunities, 2013 – 2023”, IoT engineering services market in the region is forecast to exhibit a CAGR of over 22% during 2018 – 2023. Growing digitalization is driving the adoption of Social, Mobile, Analytics, Cloud and Things (SMACT) technologies across various sectors, including manufacturing, transportation, logistics, finance, and energy & utilities. This adoption is adding on to the existing technological, security and business complexities, thereby requiring the deployment of IoT engineering services to ensure the smooth operational functionality.
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Germany dominated the Europe IoT engineering services market in 2017 and is anticipated to maintain its market dominance in the coming years as well, on the back of its digitalized governance and tech-savvy population. As growing business-technology interdependencies are resulting in increased data privacy, theft and loss concerns, demand for security engineering services is expected to grow at a robust pace across Europe. Consequently, this service segment is likely to exhibit the fastest growth rate during the forecast period. Manufacturing sector holds the largest market share, backed by rapid proliferation of Industrial IoT and Industrie 4.0 in the sector.
“Smart technology penetration, rapidly proliferating commercialization, ongoing digital revolution, evolving business infrastructure and burgeoning security vulnerabilities in Europe are contributing to the growing competitive pressure in the marketplace, consequently, leading to the growing deployment of IoT engineering services, to ensure business stability in the marketplace.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe IoT Engineering Services Market By Service, By End User Sector, By Country, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of the IoT engineering services market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities existing in the market.
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