IoT Engineering Services Market Is Projected To Grow At A CAGR Of 23% To Surpass USD 30 Billion By 2023 | TechSci Research

Global IoTengineering services market stood at $ 8.9 billion in 2017, and is projected to grow at a CAGR of 23% to surpass $ 30 billion by 2023, backed by expanding market of smart and connected devices and ongoing Industrial IoT adoption. Growing demand for IoT engineering services for various activities such as security, maintenance, analytics, product engineering, etc., as well as rising focus on operational efficiency enhancement and risk mitigation across critical sectors such as manufacturing, energy & utilities, government and healthcare are expected to positively influence the global IoT engineering services market during forecast period.

Years considered for this report:

  • Historical Years: 2013-2016
  • Base Year: 2017
  • Estimated Year: 2018
  • Forecast Period: 2019–2023

Objective of the Study:

  • To define, segment, describe and forecast the global IoT engineering services market on the basis of service type, end use sector, region and company.
  • To analyze and forecast the global IoT engineering services market size, in terms of value.
  • To scrutinize the detailed market segmentation and forecast the market size, in terms of value, on the basis end user sector by segmenting the global IoT engineering services market into five sectors, namely, manufacturing, transportation & logistics, energy & utilities, healthcare and others (government, agriculture, it & telecom, education, aerospace & defense).
  • To identify the drivers and challenges for the global IoT engineering services market.
  • To strategically profile leading players operating in the global IoT engineering services market.  

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Global IoT engineering services market is controlled by these major players – Altran Technologies, SA, Capgemini SE, Cognizant Technology Solutions Corporation, eInfochips, Happiest Minds Technologies Private Limited, IBM Corporation, Infosys Limited, Prodapt Solutions Private Limited, and Tata Consultancy Services, among others.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of major global IoT engineering service developers, providers and procurers. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. TechSci Research further analyzed the product offerings or variants, distribution channels, and regional presence of major IoT engineering services providers.

TechSci Research calculated the global IoT engineering services market size using a bottom-up approach, where data for different components for standard application (end user sectors such as manufacturing, transportation & logistics, energy & utilities, healthcare and others) was recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and these were externally validated through analyzing historical data of IoT engineering services market to arrive at the overall market size. Various secondary sources such as company websites, annual reports, World Bank website, government websites, press releases, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.

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Key Target Audience:

  • IoT Service Developers, Vendors & Distributors
  • Managed Service Providers
  • Cloud and Security Service Providers
  • System Integrators
  • End-users of IoT Engineering Services such as Manufacturing, Transportation & Logistics, Energy & Utilities, Healthcare & Other sectors
  • Associations, Organizations, Forums and Alliances Associated with IoT Engineering Services
  • Market Research and Consulting Firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as IoT engineering service providers, procurers, customers and policy makers. The study would also help them to target the growing segments over the coming years and aid them in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, the global IoT engineering services market has been segmented into the following categories in addition to the industry trends which have also been detailed below:

  • Market, by Service:
    • Product Engineering
    • Cloud Engineering
    • Experience Engineering
    • Security Engineering
    • Others (Analytics Engineering, Maintenance, Testing & Validation)
  •   Market, by End Use Sector:
    • Manufacturing
    • Transportation & Logistics
    • Energy & Utilities
    • Healthcare
    • Others (IT & Telecom, Government, Education, Agriculture, Aerospace & Defense)
  • Market, by Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • United Kingdom
      • France
      • Italy
      • Spain
      • Rest of Region
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Singapore
      • Rest of Region
    • Middle East & Africa
      • Turkey
      • Saudi Arabia
      • UAE
      • South Africa
      • Rest of Region
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Rest of Region 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies providing IoT engineering services.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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