About Internet of Things (IoT) Professional Services
Internet of Things (IoT) Professional service is an intangible product that a contractor or product vendor sells to help a customer manage a specific part of their business. Because professional service providers have specialized knowledge about niche areas of interest, marketing, or accounting, such as law, they allow the customer to focus on core business concerns. The global professional service market is expected to grow at a moderate pace during the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on emerging markets in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time.The Players having a strong hold in the market are Accenture, Atos SE, IBM Corporation, and Capgemini. 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.
Accenture (Ireland), Atos SE (France), IBM Corporation (United States), Capgemini (France), Cognizant (United States), Fujitsu (Japan), Hewlet-Packyard Enterprises (United States), NTT DATA Corporation (Japan), Genpact (United States), AT&T (US), Vodafone (United Kingdom), LUXOFT (Switzerland) and Prodapt Solutions PVT. LTD. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Tata Consulting Services (India), Infosys (India), Wipro Limited (India), Happiest Minds (India) and Tech Mahindra Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global Internet of Things (IoT) Professional Services market by Type (Planning and Consulting, Software Development, Infrastructure Integration, Support and Maintenance, Education and Training and Others), Application (Business Services, Network Services, Security Services, Infrastructure Services, Mobility Services and Communication & Collaboration Services) and Region.
On the basis of geography, the market of Internet of Things (IoT) Professional 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 , the sub-segment i.e. will boost the Internet of Things (IoT) Professional Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Growing Trend of Cloud Analytics & Big Data Implementation
Market Growth Drivers:
Increasing IT Investment of Different Companies, The proliferation of Connected Devices Across the Globe and Growing Requirement for Highly Customized Professional Services in the Industrial and Transportation Sectors
Challenges:
Lack of Skilled Professionals and Transition From Existing It Infrastructures to New Infrastructures
Restraints:
Lack of Uniform Regulatory Standards and Universal Protocols
Opportunities:
Increasing Development of Smart Cities Across the Globe
Market Leaders and their expansionary development strategies
In Jly 2023, Telecom management solution provider Rev.io has acquired of Tigerpaw, a software company offering end-to-end professional services and business automation software to technology providers. Rev.io says this acquisition will expand its reach within the managed services space.
In 2021, IBM launched a new IoT platform called IBM Edge Application Manager, which enables clients to deploy, monitor, and manage AI and IoT workloads at scale across multiple locations. In 2020, Cognizant launched an IoT-enabled asset monitoring solution for the manufacturing industry.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Professional Services
Key Target Audience
Internet of Things (IoT) Professional Services Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
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.