IoT engineering services market is expected to reach US$ XX Bn in 2027 from US$ XX Bn in 2019, at a CAGR of XX%.
Internet of things refers to the connection of the devices or the data that are interlinked through the internet. In this multiple devices are connected through the internet. It consists of sharing of data through the various software and the hardware. The data is shared through the operating system, it also provides information about the current working environment and the surrounding system. With the advent of technology, there has been a need to provide proper and precise information across the user interface. These are the ways in which this is performed.
The growing need for reduced system troubleshooting and enhanced operational efficiency, the increasing requirement of risk mitigation to minimize the data loss, the increasing adoption of micro-services, and the accelerating Social, Mobile, Analytics, and Cloud (SMAC) technologies are said to be driving the market growth. However, the market faces challenges in terms of device management across billions of connected devices.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The IoT engineering services market report can be broadly classified on the basis of service types, end users, verticals, and regions. The security engineering service type is expected to have the fastest growth rate during the forecast period. Security engineering is a process of designing and developing an array of security technologies and monitoring the solutions to detect and prevent attacks. The team develops solutions that help organizations in empowering their security technologies to protect an organization’s or a user’s personal and professional data from cyber threats. These benefits are expected to lead the growth of the IoT engineering services market in the coming years.
The healthcare vertical is expected to grow at the highest CAGR in the IoT engineering services market during the forecast period. Connected healthcare devices enable healthcare organizations to streamline the operations and business processes, and aid in real-time patient care, even from remote locations. These connected devices in the field of healthcare could lead to a savings of 15–20% in the health expenditure; thus, there is a large integration of IoT engineering services into healthcare organizations’ functioning systems and infrastructure. IoT engineering services provide in-depth knowledge about the benefits and features that the new service would offer for the patients and caretakers. IoT engineering services are applied in key areas of the healthcare vertical. The key areas include recording devices, healing or therapeutic appliances, radiology apparatus, respiratory devices, in-vitro devices, and diagnostics and monitoring devices.
Currently, Asia pacific is rapidly growing in this sector and has the maximum rate of expansion. The fragmented competition among the players in this region has fuelled the growth. The IoT service providers are looking at expanding the base of their services to most of the countries in the region, because of the improving infrastructure and other business strategic moves. Due to the rapid growth in the technological innovations and the increased usage of connected devices, organizations have started investing in advanced security services. This, in turn, is expected to provide growth opportunities for the IoT engineering service vendors during the forecast period.
The IoT engineering services ecosystem comprises service providers, some of the service providers are TCS (India), Wipro (India), Aricent (US), IBM (US), Capgemini (France), Happiest Minds (India), Infosys (India), eInfochips (US), Cognizant (US), and Tech Mahindra (India) and RapidValue (US) among others.
The objective of the report is to present comprehensive analysis IoT engineering services market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding IoT engineering services market dynamics, structure by analyzing the market segments, and project the IoT engineering services market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the IoT engineering services market make the report investor’s guide.
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The scope of the Report
IoT engineering services market,By Service Type
• Product Engineering
o Connected Devices Engineering
o Software Engineering
• Cloud Engineering
o DevOps Engineering
o Cloud Architecture
o Embedded Platform Engineering
o Testing and Validation
• Experience Engineering
o User Interface (UI) Design
o Human Machine Interface (HMI) Engineering
o Experience Planning and Assessment
• Analytics Services
• Maintenance Services
• Security Engineering
IoT engineering services market, By End User
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
IoT engineering services market, By Vertical
• Aerospace and Defense
• Transportation and Logistics
• IT and Telecom
• Industrial Manufacturing
• Energy and Utilities
IoT engineering services market,By Region
• North America
• Latin America
IoT engineering services market, Key Players:
Harman International Industries
Tata Consultancy Services •
Vodafone Global PLC
NTT Data Corporation
Luxoft Holding Inc
EPAM Systems, Inc
Dell Technologies Inc
Rogers Communication Inc
Verizon Enterprise Solutions
Arrow Sustainable Technology Solutions
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