Global IoT Solutions and Services Market Size Study, By Type, Application, and Regional Forecasts 2027
Posted by Karthik Pilla on June 24th, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “IoT Solutions and Services Market by Component (Solutions and Services), Organization Size, Deployment Mode, Focus Area (Smart Manufacturing, Smart Energy and Utilities, and Smart Retail) and Region - Global Forecast to 2027” under Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The IoT Solutions and Services Market is projected to grow from USD 243.1 billion in 2022 to USD 575.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period. The IoT Solutions and Services market is expected to grow at a rapid pace due to the evolution of new technologies, and adoption and scaling of digital initiatives.
The internet of things (IoT) is defined as an extension of the internet and other network connections to various sensors and devices or "things," allowing even simple objects such as lightbulbs, locks, and vents to have more processing and analytical capabilities. One of the important elements of the IoT that contributes to its growing popularity is interoperability. Connected or "smart" devices, often known as "things" in the IoT, can collect and share data from their surroundings with other devices and networks. Devices can perform their jobs with little or no human contact specifically for data analysis and processing.
Among deployment mode, the on premises segment is estimated to grow with the larger market size during the forecast period. The increasing generation of data leads to various challenges for several organizations. These challenges include storage, privacy, and affordability.
The Large Enterprises segment to hold higher CAGR during the forecast period
Among the organization size, the large enterprises are projected to lead the market. The adoption of IoT Solutions and Services and services among large enterprises is elevated as large enterprises use IoT Solutions and Services solutions for specific use cases. They are challenged with the problematic assignment of fundamentally managing security because of the distinct nature of IT infrastructure, which is complicated in nature. Large enterprises must create digital infrastructure and focus on leadership and organization structure by creating central innovation groups to drive the digital objectives.
Among regions, Asia Pacific to hold highest CAGR during the forecast period
Asia Pacific is expected to grow at a good pace during the forecast period. The need to improve and streamline business processes and support decision-making is driving the demand for IoT Solutions and Services in the Asia Pacific. Hence, IoT Solutions and Services vendors in this region focus on innovations related to their product line. China, Japan, and India have displayed ample growth opportunities in the IoT Solutions and Services market.
Breakdown of primaries
§By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
The report includes the study of key players offering IoT Solutions and Services solutions and services. It profiles major vendors in the global IoT Solutions and Services market. The major vendors in the global IoT Solutions and Services market include Siemens (Germany), Microsoft (US), AWS (US), IBM (US), Intel (US), Cisco (US), Google (US), Oracle (US), SAP (Germany), Qualcomm (US), Oxagile (US), Aeris Communications (US), Fujitsu (Japan), PTC (US), Hitachi (Japan), GE Digital (US), ARM (UK), Software AG (Germany), Particle (US), HQ Software (Estonia), Telit (UK), ClearBlade (US), Ayla Networks (US), Hologram (US), Losant (US), Samsara (US), Litmus (US), and Confidex (Finland).
Key Benefits of Buying the Report
Browse our full report with Table of Content :
About Bharat Book Bureau:
Contact us at:
Like it? Share it!
About the AuthorKarthik Pilla
Joined: March 29th, 2019
Articles Posted: 423
More by this author