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Global IoT Engineering Services Market
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IoT engineering services refers to the utilization of advanced technologies like IoT to establish an efficient connection between all the pivotal entities encompassing an organization. Numerous companies around the world are deploying robots and other automated devices in their production units so as to simplify tasks and make the complete work process safe and less time consuming. The adoption of IoT services enhances the productivity of a firm and also saves cost and time by reducing human labor.
Global IoT engineering services market- Overview
The IoT engineering services market size is presently valued at USD 29.53 Billion, and is poised to amplify at a CAGR of 24.5% reaching a value of USD 170.46 Billion by 2030. Escalating demand for connected wearables, rapid advancements in the field of artificial intelligence, and widespread digital evolution across the globe is augmenting the industry outlook.
| Attribute | Key Insights |
| Estimated Market Value (2021) | 29.53 USD Billion |
| Forecasted Market Value (2030) | 170.46 USD Billion |
| CAGR % 2023-2028 | 24.5%` |
| Leading Region | North America |
Furthermore, increasing requirement for enhanced operational efficient in firms, rise in smart city projects, and growing focus to mitigate risks pertaining to data breaches across organizations are positively swaying the market dynamics.
Also, growing government investments to support IoT infrastructure development across various regions along with the rising internet penetration are adding momentum to the overall industry development. On the contrary, dearth of strong internet infrastructure across major economies and rising risks of cyber-attacks are hampering the remuneration scope of this business vertical.
Global IoT engineering services market- Key Trends
Wide array of benefits offered by IoT services to aid market expansion
The adoption of IoT services aids organizations in reducing the operational costs and enhances productivity. Surge in the deployment of robots and other automated devices has simplified the work process of firms by facilitating efficient communication between all the entities. The automation of various processes has also reduced the need for human labor, which in turn has stimulated the overall market outlook.
Surge in smart city projects to accelerate market growth
With widespread digital evolution, there has been a steep rise in the number of smart city projects. This in turn has increased the deployment of IoT enabled devices and services in residential buildings, commercial complexes, and other entities. This has accelerated the overall growth of this business sphere.
Global IoT engineering services market- Segmental Analysis
By Service Type
- Product Engineering
- Connected Devices Engineering
- Mobile application development
- Protocol and component development
- Prototype testing and validation
- System integration
- Software Engineering
- Cloud Engineering
- DevOps Engineering
- Cloud Architecture
- Embedded Platform Engineering
- Platform migration
- Middleware development
- Testing and Validation
- Experience Engineering
- User Interface (UI) Design
- Human Machine Interface (HMI) Engineering
- Experience Planning and Assessment
- Analytics Services
- Maintenance Services
- Security Engineering
- Others (data design, and engineering and simulation)
By Vertical
- Automotive
- Aerospace and Defense
- Healthcare
- Transportation and Logistics
- IT and Telecom
- Industrial Manufacturing
- Energy and Utilities
Others (retail; construction; Banking, Financial Services, and Insurance (BFSI); and agriculture
The automotive segment is expected to amass notable gains over the stipulated timeline ascribing to the growing consumer inclination towards smart vehicles.
By End-User
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
- The small and medium sized-enterprises segment is slated to capture a high market share owing to the ability of IoT services to enhance operational efficiency and reduce capital costs.
Global IoT engineering services market- Geographical landscape
North America, Europe, Middle East & Africa, Latin America, and Asia Pacific are the major regions constituting the geographical landscape of this industry. Among these, North America is poised to generate significant returns over 2022-2030. This is credited to the presence of strong internet infrastructure, rise in smart city products, and growing IoT deployment in sectors such as automotive, finance, and consumer goods, among others.
Global IoT engineering services market- Competitive terrain
The prominent companies operating in the market sphere are Aricent, Wipro, Capgemini, IBM Corporation, Happiest Minds, Infosys, Cognizant Technology Solutions, Infosys Technologies Pvt. Ltd., Einfochips, Rapidvalue, Tech Mahindra, Prodapt Solutions, Cisco System, Inc., Dell Technologies, Harman International Industries, Tieto Corporation, Virtusa Corporation, Accenture PLC, Luxoft Holding, Inc., EPAM Systems, Inc., NIIT Technologies, and Tata Consultancy Services.
Notably, in August 2019, Reliance Jio inked a partnership deal with Microsoft Corporation to enhance its consumer base.
Report Scope
- Global IoT engineering services market- Historical Years- 2018-2021
- Global IoT engineering services market- Forecast Years- 2022-2030
- Global IoT engineering services market 2022- USD 29.53 Billion
- Global IoT engineering services projected market 2030- USD 170.46 Billion
- Global IoT engineering services market CAGR- 24.5%
- Key segments reported- Service, Vertical, and End User
Major regions and countries covered-
- North America- U.S. and Canada
- Europe (U.K., France, Italy, Spain, and Russia)
- Latin America (Mexico and Brazil)
- Asia Pacific (China, India, Japan, Australia, and South Korea)
- Middle East & Africa (GCC, South Africa, and Egypt)
Key players profiled- Aricent, Wipro, Capgemini, IBM Corporation, Happiest Minds, Infosys, Cognizant Technology Solutions, Infosys Technologies Pvt. Ltd., Einfochips, Rapidvalue, Tech Mahindra, Prodapt Solutions, Cisco System, Inc., Dell Technologies, Harman International Industries, Tieto Corporation, Virtusa Corporation, Accenture PLC, Luxoft Holding, Inc., EPAM Systems, Inc., NIIT Technologies, and Tata Consultancy Services.
ToC
- Global IoT Engineering Services Market Introduction and Market Overview
- Objectives of the Study
- Global IoT Engineering Services Market Scope and Market Estimation
- Global IoT Engineering Services Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2019-2032)
- Global IoT Engineering Services Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2032
- Market Segmentation
- Service Type of Global IoT Engineering Services Market
- End User of Global IoT Engineering Services Market
- Region of Global IoT Engineering Services Market
- Executive Summary
- Market Factor Analysis
- Global IoT Engineering Services Market Industry Trends under COVID-19 Outbreak
- Global COVID-19 Status Overview
- Influence of COVID-19 Outbreak on Global IoT Engineering Services Market Industry Development
- Market Dynamics, By Region
- Drivers
- Limitations
- Opportunities
- Impact Analysis of Drivers and Restraints
- Global IoT Engineering Services Market – Pricing Trends Analysis & Average Selling Prices (ASPs)
- End-User / Customer Preferences & Consumer Surveys
- Technology Roadmap & Key Innovations /Developments
- Key Mandates & Regulatory Scenario Analysis
- Patents Landscape
- Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- PEST Analysis
- Political Factors
- Economic Factors
- Social Factors
- Technological Factors
- SWOT Analysis
- ANSOFF Matrix
- Market Penetration Strategy
- Product Development Strategy
- Market Development Strategy
- Diversification Strategy
- Market Investment Feasibility Analysis
- Opportunity Map Analysis
- Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
- Global IoT Engineering Services Market Industry Trends under COVID-19 Outbreak
- Global IoT Engineering Services Market Estimates & Historical Trend Analysis (2019 – 2022)
- Global IoT Engineering Services Market Estimates & Forecast Trend Analysis, by Component
- Global IoT Engineering Services Market Revenue (US$ Mn) Estimates and Forecasts, by Service Type, 2019 to 2032
- Product Engineering
- Connected Devices Engineering
- Mobile application development
- Protocol and component development
- Prototype testing and validation
- System integration
- Software Engineering
- Cloud Engineering
- DevOps Engineering
- Cloud Architecture
- Embedded Platform Engineering
- Platform migration
- Middleware development
- Testing and Validation
- Experience Engineering
- User Interface (UI) Design
- Human Machine Interface (HMI) Engineering
- Experience Planning and Assessment
- Analytics Services
- Maintenance Services
- Security Engineering
- Others (data design, and engineering and simulation)
- Global IoT Engineering Services Market Revenue (US$ Mn) Estimates and Forecasts, by Service Type, 2019 to 2032
- Global IoT Engineering Services Market Estimates & Forecast Trend Analysis, by Verticals
- Global IoT Engineering Services Market Revenue (US$ Mn) Estimates and Forecasts, by Verticals, 2019 to 2032
- Automotive
- Aerospace and Defense
- Healthcare
- Transportation and Logistics
- IT and Telecom
- Industrial Manufacturing
- Energy and Utilities
- Others (retail; construction; Banking, Financial Services, and Insurance (BFSI); and agriculture
- Global IoT Engineering Services Market Revenue (US$ Mn) Estimates and Forecasts, by Verticals, 2019 to 2032
- Global IoT Engineering Services Market Estimates & Forecast Trend Analysis, by Region
- Global IoT Engineering Services Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- Global IoT Engineering Services Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2032
- North America IoT Engineering Services Market: Estimates & Forecast Trend Analysis
- North America IoT Engineering Services Market Assessments & Key Findings
- IoT Engineering Services Market Introduction
- IoT Engineering Services Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
- By Service Type
- By Verticals
- By Country
- The U.S.
- Canada
- Mexico
- North America IoT Engineering Services Market Assessments & Key Findings
- Europe IoT Engineering Services Market: Estimates & Forecast Trend Analysis
- Europe IoT Engineering Services Market Assessments & Key Findings
- IoT Engineering Services Market Introduction
- IoT Engineering Services Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
- By Service Type
- By Verticals
- By Country
- Germany
- K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Europe IoT Engineering Services Market Assessments & Key Findings
- Asia Pacific IoT Engineering Services Market: Estimates & Forecast Trend Analysis
- Asia Pacific Market Assessments & Key Findings
- IoT Engineering Services Market Introduction
- IoT Engineering Services Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
- By Service Type
- By Verticals
- By Country
- China
- Japan
- India
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Asia Pacific Market Assessments & Key Findings
- Middle East & Africa IoT Engineering Services Market: Estimates & Forecast Trend Analysis
- Middle East & Africa Market Assessments & Key Findings
- IoT Engineering Services Market Introduction
- IoT Engineering Services Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
- By Service Type
- By Verticals
- By Country
- A.E.
- Saudi Arabia
- Egypt
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa Market Assessments & Key Findings
- South America IoT Engineering Services Market: Estimates & Forecast Trend Analysis
- South America Market Assessments & Key Findings
- IoT Engineering Services Market Introduction
- IoT Engineering Services Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
- By Service Type
- By Verticals
- By Country
- Brazil
- Argentina
- Colombia
- Rest of South America
- South America Market Assessments & Key Findings
- Competition Landscape
- IoT Engineering Services Market Competition Index, By Leading Players
- IoT Engineering Services Market Competition White Space Analysis, By Application / End-user
- IoT Engineering Services Market Competition Heat Map Analysis, By Products / Services / Solutions
- IoT Engineering Services Market Competition Regional Intensity Map Analysis, By Geographies Served
- IoT Engineering Services Market Concentration & Company Market Shares (%) Analysis, 2022
- IoT Engineering Services Market Competition Quadrant Analysis, By Leading Players / Innovators / Emerging Players / New Entrants
- Company Profiles
- Accenture PLC
- Company Overview & Key Stats
- Financial Performance & KPIs
- Product / Service / Solutions Portfolio & Applications / End-uses
- Business Strategy & Recent Developments
- Accenture PLC
* Similar details would be provided for all the players mentioned below
- AGCO Corporation (U.S.)
- AGT
- Arrow Sustainable Technology Solutions
- AT&T
- Atos SE
- Bosch
- Capgemini
- CGI
- Cisco
- Cognizant
- Dell Technologies Inc
- Deloitte
- EPAM Systems, Inc
- Ericsson
- Globecomm
- Harman International Industries
- Infosys
- Integron
- Jetter AG
- Lochbridge Inc
- Luxoft Holding Inc
- NIIT Technologies
- NTT Data Corporation
- Rogers Communication Inc
- Tata Consultancy Services
- Tech Mahindra
- Tech Mahindra
- Tieto Corporation
- Verizon Enterprise Solutions
- Virtusa Corporation
- Vodafone Global PLC
- Wind River
- Others
- Research Methodology
- External Sources / Databases
- Internal Proprietary Database
- Primary Research
- Secondary Research
- Assumptions
- Limitations
- Report FAQs
- Research Findings & Conclusion
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