2020 Internet of Things (IoT) Services Market Industry Outlook, Growth And Trend

Posted by Ramakrishna TBRC on December 15th, 2020

The Business Research Company’s latest report IoT Services Global Market Report 2020 covers IoT Services market drivers, IoT Services market trends, IoT Services market segments, IoT Services market growth rate, IoT Services market major players, and IoT Services market size. The report provides in-depth analysis of the impact of COVID-19 on the IoT Services industry, along with revised market numbers due to the effects of the coronavirus.

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IoT Services Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

The global IoT services market is expected to decline from 3.48 billion in 2019 to 9.36 billion in 2020 at a compounded annual growth rate (CAGR) of -2.87%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities that eventually led to a slowdown in the economy. The market is then expected to recover and reach 0.41 billion in 2023 at a CAGR of 23.17%.

The report covers the IoT Services market’s segments-

1) By Type: Professional Services, Managed Services.

2) By Vertical: Manufacturing, Retail, IT & Telecom, Transportation & Logistics, Utilities, Healthcare, Energy, Others.

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Ramakrishna TBRC

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Ramakrishna TBRC
Joined: December 17th, 2019
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