About IoT Solutions and Services
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.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
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. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global IoT Solutions and Services market throughout the forecasted period. 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.
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 coverage are GE Digital (United States), SAP (Germany), Siemens (Germany) and IBM (United States).
Segmentation Overview
AMA Research has 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.
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). If we see Market by End-Use Industry, the sub-segment i.e. Health will boost the IoT Solutions and 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. Web-based will boost the IoT Solutions and Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Service will boost the IoT Solutions and Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
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.