IoT Services Market To Grow At Rate Of 16% Through 2026
The Business Research Company’s IoT Services Global Market Report 2022: Market Size, Trends, And Forecast To 2026
LONDON, GREATER LONDON, UK, May 6, 2022 /EINPresswire.com/ — According to ‘IoT Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the IoT services market size is expected grow from $163.70 billion in 2021 to $188.80 billion in 2022 at a compound annual growth rate (CAGR) of 15.3%. The growth in the market 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. As per TBRC’s IoT services market research the market is expected to reach $340.61 billion in 2026 at a CAGR of 15.9%. An increase in the internet of things use cases is expected to drive the IoT services market growth.
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The global 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.
Global IoT Services Market Trends
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.
Global IoT Services Market Segments
By Type: Professional Services, Managed Services
By Vertical: Manufacturing, Retail, IT and Telecom, Transportation and Logistics, Utilities, Healthcare, Energy, Others
By Application: Smart Buildings, Smart Manufacturing, Smart Transport and Logistics, Smart Healthcare, Smart Retail, Smart Energy
By Geography: The global IoT services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share.
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IoT Services Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides IoT services global market overviews, IoT services industry analysis and forecasts market size and growth for the global IoT services global market, IoT services market share, IoT services global market segments and geographies, IoT services global market players, IoT services market leading competitor revenues, profiles and market shares. The IoT services market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s IoT Services Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: Cisco Systems, Cognizant, Google, Infosys, Tieto Corporation, Virtusa Corporation, Accenture PLC, IBM, Tech Mahindra, Harman International Industries, Microsoft, Wipro, HCL Technologies, Tata Consultancy Services Limited, AT&T, Honeywell International Inc., Amazon, HP (Hewlett Packard), Intel Security Group, Apple, and Qualcomm.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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