Global IoT Services Market

Global IoT Services Market formed the second largest component after IoT hardware that has changed the IoT functioning and application. Connection through the internet has become a necessity nowadays, forming the stepping stone of the IoT boom and its related services. With the number of users using smartphones crossing 3 billion in 2018 itself and internet users crossing 5 billion, it shows that almost half of the population all around the world are connected with each other.

The growth of smartphones and other mobile devices is also increasing the number of contacts present between brands and consumers, thereby giving new opportunities to connect. A few of these contacts together with mobile technology is reshaping IoT services industry by enabling broader brand experiences, like branded content and social media engagement to boost market share.

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Global IoT Services Market

IoT is a seamless concept of a connected network system comprising of embedded devices that enables communication without any human intervention. Services that are used for supporting essential features and components of the IoT network are together known as IoT services. The Global IoT Services Market has witnessed significant growth as a result of technological advancements, automated processing, and booming consumer electronics industry.

Furthermore, rise in demand for wearable, remote patient monitoring system, intelligent freight & transportation system market and increasing data volume and analytics is also expected to boost the Global IoT services market during the next five years.

The study objectives are:

· To analyze and research Global IoT Services Market status and future forecast,involving, production, revenue, consumption, historical and forecast.
· To present the key Global IoT Services Market production, revenue, market share, and recent development.
· To split the breakdown data by regions, type, manufacturers, and applications.
· To analyze the global and key regions market potential and advantage, opportunity, and challenge, restraints and risks.
· To identify significant trends, drivers, influence factors in global and regions.
· To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

The capital and operational expenditure remain a key concern for all the organizations that have further enhanced the application of professional services in terms of consulting, designing & integration, and support & maintenance among others. The digital transformation across all the countries especially after the growing internet penetration and IoT systems have reshaped the paradigm of an organizational ecosystem. All the companies are it small or large are rapidly enrolling themselves with the IoT product and services channeling to remain at par with the global standards. With more than 20% of the compounded annual growth rate, professional services are expected to boom further especially in the specialized technical consulting business and services.

Managed services in terms of network, security, data and device management across the cybersecurity issues have evolved and grown into a key industry for IoT system survival. With more than USD 95 billion spending for cyber-security globally in 2018, and cybercrime damages costing USD 6 Trillion by 2020 the demand for managed services have reached an all-time high. Hard drives crashing, human error, external storage of documents over cloud and negligence over endpoint security in network management have also contributed to the rise in demand for managed services.

Key Players in Global IoT Services Market:
• AT&T
• Ericsson
• Cisco
• Cognizant
• Infosys
• Harman International Industries
• Tieto Corporation
• Virtusa Corporation
• Tata Consultancy Services
• Vodafone Global PLC
• Accenture PLC
• Atos SE
• NTT Data Corporation
• Tech Mahindra
• Luxoft Holding Inc.
• EPAM Systems, Inc.
• NIIT Technologies
• Lochbridge Inc.
• Dell Technologies Inc.
• Bosch
• Rogers Communication Inc.
• Deloitte
• AGT
• Jetter AG
• CGI
• Wind River
• Verizon Enterprise Solutions
• Globecomm
• Integron
• Arrow Sustainable Technology Solutions

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