IoT Solutions and Services Market Scope
IoT solutions and services help aggregate data from physical objects and smartly use it for process automation and business intelligence. It represents a set of end-to-end services in which businesses contract with external providers to design, build, install and operate IoT solutions, such as advisory consulting for IoT planning and others.
Global IoT Solutions and Services is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global IoT Solutions and Services market throughout the predicted period.
ScienceSoft (United States), iTechArt (United States), Oxagile (United States), Indium Software (United States), Softeq (United States), Style Lab IoT Software Company (United States), HQ Software Industrial IoT Company (United States), PTC (United States), Cisco (United States) and Huawei (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are GE Digital (United States), SAP (Germany), Siemens (Germany) and IBM (United States).
Segmentation Overview
The study have segmented the market of Global IoT Solutions and Services market , by Application (Remote Asset Monitoring/Predictive Maintenance, Product Optimization, Workforce Tracking, Safety and Emergency Management and Others) and Region with country level break-up.
On the basis of geography, the market of IoT Solutions and Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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).
Influencing Trend:
Rapid Development of Wireless Technologies
Market Growth Drivers:
Increasing Need for Internet-Based Services
Challenges:
Regulatory Guidelines on the IoT Solutions and Services Providers
Restraints:
Concerns Related to the Privacy and Security and Increased Unemployment Rate
Opportunities:
Growing Demand for IoT Solutions and Services
Market Leaders and their Expansionary Development Strategies
In January 2021, PTC has acquired Arena Solutions. The combination will provide a powerful pure SaaS CAD and PLM solution that is positioned to capture the rapidly emerging shift towards SaaS for product design, development, and realization.
In June 2023,Qualcomm Technologies, Inc. today announced two modem chipsets with satellite capability: the Qualcomm® 212S Modem and the Qualcomm® 9205S Modem. The new Qualcomm® modem chipsets power off-grid industrial use cases that require standalone non-terrestrial network (NTN) connectivity or hybrid connectivity alongside terrestrial networks, and allow IoT enterprises, developers, ODMs, and OEMs to harness real-time information and insights to manage business projects.
Key Target Audience
IoT Solutions and Services Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.