About Internet of Things Development Services
Internet of Things (IoT) Development Services is used to improve workflows, get data about devices’ performance, and more. These development services include IoT software architecture, IoT integration, smart connectivity, and consulting. According to a survey, by the end of 2020, the number of connected IoT devices installed worldwide will reach 30 billion. Hence the need for the demand for highly customized IoT services is increasing and this will boost the global internet of things development services market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sirius Computer Solutions (United States), SaM Solutions (United States), ScienceSoft (United States), Toptal (United States), Domo (United States), R-Style Lab (United States), Magenic Technologies, Inc (United States), Chetu (United States), IBM (United States), Digiteum (United States), Intellias (Ukraine), MobiDev (United States), Hidden Brains InfoTech (United States), Systematix Infotech Pvt. Ltd. (India), Mobisoft Infotech (India), Softeq Development (United States) and Biz4Group LLC (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Internet of Things Development Services market by Type (Professional Services (Planning and Consulting, Software Development, Infrastructure Integration, Others) and Managed Services), Application (Smart Buildings, Smart Manufacturing, Smart Transport and Logistics, Smart Healthcare, Smart Retail, Smart Energy, Security Management and Others) and Region.
On the basis of geography, the market of Internet of Things Development Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry, the sub-segment i.e. Healthcare will boost the Internet of Things Development Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment , the sub-segment i.e. On-Premises will boost the Internet of Things Development Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Type, the sub-segment i.e. Large Enterprises will boost the Internet of Things Development Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
IoT Integration in Traditional Infrastructures
Market Growth Drivers:
Increasing Connected Devices Worldwide, Demand for Highly Customized IoT Services and Increasing Venture Capital Investments in IoT Industry
Challenges:
Lack of Skilled Professionals
Restraints:
Lack of Uniform Regulatory Standards and Privacy and Security Issues
Opportunities:
Increasing Demand to Reduce Downtime and Improve Operational Efficiency, Growing Evolution Of Smart Technology and Increasing Installations of Industrial Robots in Manufacturing Sector
Market Leaders and their expansionary development strategies
On 19th January 2021, Cognizant has entered into an agreement to acquire Magenic Technologies, Inc., a privately-held custom software development services company headquartered in Minneapolis, Minnesota. The acquisition will expand Cognizant's software product engineering footprint, adding 475 employees in the U.S. across seven locations and more than 350 employees in Manila, Philippines.
In September 2019, Systematix Infotech entered into a partnership with Cloud I/Os a Singapore based consulting, integration, and senior architectural company. This partnership aimed to expand the Systematix business in the South East Asia region.
"In the United States, agencies such as the Consumer Protection Bureau and legislation like the Fair Credit Reporting Act are empowered to act to protect consumers from IoT-based security and privacy challenges, even if the pace of new IoT developments may require these familiar actors to pick up some new tools."
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Internet of Things Develop Services Providers, IT Service Providers, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.