21-Oct-2020 | Zion Market Research
As per analysts at Zion Market Research, the global IoT engineering services market is anticipated to attain USD 55.02 billion by 2026 and grow at a CAGR of over 26.5% during the forecast period. In the IoT (Internet of Things), several devices are connected with the internet. It includes the sharing of data from different software and hardware. The data is shared via the operating system and it also presents information regarding the current operating environment and the surrounding system. With the introduction of technology, there has been a call for providing proper and accurate data across the user interface.
Some of the key players in the market are RapidValue, Tech Mahindra, Cognizant, eInfochips, Happiest Minds, Infosys, IBM, TCS, Wipro, Capgemini, and Aricent.
Rising Need For Enhancing Efficiency & Decreasing Risk To Critical Data In Various Industries To Boost The Global IoT Engineering Services Market
The augmenting demand for IoT engineering services in various applications like security, maintenance, analytics, product engineering, amongst others is expected to result in the high implementation of IoT engineering services and is one of the key aspects likely to accelerate the growth of the global IoT engineering services market. Additionally, the rising need to enhance efficiency and decrease risk to critical data in different industries like government, energy & utilities, manufacturing, and healthcare are other aspects likely to boost the growth of the global IoT engineering services market. Furthermore, the noteworthy development in data sharing over the Internet plus continuously surging need for data sharing and the requirement to track & estimate the data is a factor anticipated to drive the expansion of the global market.
The global IoT engineering services market is bifurcated on the basis of service type, end-user, vertical, and regional analysis. Based on the service type, the market is divided into maintenance services, cloud engineering, experience engineering, product engineering, maintenance services, and security engineering. Based on end-user, the market is divided into large enterprises and small & medium enterprises. Based on the vertical, the market is divided into IT & telecom, healthcare, energy & utilities, automotive, industrial manufacturing, aerospace & defense, and transportation & logistics.
The Asia Pacific Region Estimated To Witness Massive Growth In The Global IoT Engineering Services Market
Based on geographical analysis, the global IoT engineering services market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The Asia Pacific region is expected to contribute a major revenue share in the global IoT engineering services market. The high adoption of superior technologies, programs to make smart cities, and stable economic growth in some nations of this region are major aspects anticipated to stimulate the growth of the global IoT engineering services market across the Asia Pacific region.
Browse the full “IoT Engineering Services Market - By Service Type (Maintenance Services, Cloud Engineering, Experience Engineering, Product Engineering, and Security Engineering), By End-User (Large Enterprises and Small & Medium Enterprises), By Vertical (IT & Telecom, Healthcare, Energy & Utilities, Automotive, Industrial Manufacturing, Aerospace & Defense, and Transportation & Logistics), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/iot-engineering-services-market
The global IoT engineering services market is segmented as follows:
By service type:
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