The IoT Engineering Services Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the IoT Engineering Services Market?
The market size of the IoT Engineering Services Global Market Report 2024 has been experiencing substantial growth. The market value was at $37.74 billion in 2024 and is projected to increase to $46.32 billion in 2025. This growth represents a compound annual growth rate (CAGR) of 22.7%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the IoT Engineering Services Industry?
The IoT Engineering Services Global Market Report 2024 forecasts that by 2029, the market size will be $112.46 billion, growing at a compound annual growth rate (CAGR) of 24.8%.
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What are the Key Growth Drivers Fueling the IoT Engineering Services Market?
The key drivers in the iot engineering services market are:
• Integration of 5G networks for IoT connectivity
• Expansion of edge computing in IoT architectures
• Rising demand for AI and machine learning in IoT solutions
• Increased emphasis on IoT security and privacy measures
Global Market Segmentation: Identifying Major IoT Engineering Services Industry Segments
The IoT engineering services market covered in this report is segmented –
1) By Service Type: Product Engineering, Cloud Engineering, Experience Engineering, Analytics Services, Maintenance Services, Security Engineering, Other Service Types
2) By Size Of Organization: Small Enterprises, Mid-Size Enterprises, Large Enterprises
3) By End Users: Healthcare, Automotive, Information Technology And Telecom, Building Automation, Agriculture, Public Utility, Retail, Other End Users
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What are the Emerging Trends Shaping the Future of the IoT Engineering Services Market?
The key trends in the wood coating resins market are:
• The integration of 5G networks for IoT connectivity is shaping the future of the market.
• Enhancements in IoT security and privacy are becoming more prominent trends.
• There is an increasing focus on the development of modular and scalable IoT platforms.
• The rise of digital twin technology in IoT engineering is a significant emerging trend.
Who Are the Top Competitors & Leading Players in the IoT Engineering Services Market?
Major companies in the iot engineering services market are:
• Tata Consultancy Services Limited
• Infosys Limited
• Cognizant Technology Solutions Corporation
• Happiest Minds Technologies Limited
• Capgemini SE
• Microsoft Corporation
• Amazon Web Services Inc.
• IBM Corporation
• Cisco Systems Inc.
• General Electric Company
• Oracle Corporation
• Salesforce.com Inc.
• Google Inc.
• Innowise Group
• Integra Sources LLC
• Softeq Development Corporation
• Advantech Co. Ltd.
• Telefonica SA
• Accenture plc
• Wipro Limited
• HCL Technologies Limited
• Tech Mahindra Limited
• Mindtree Limited
• Virtusa Corporation
• Vodafone Global plc
• NTT Data Corporation
• Luxoft Holding Inc.
• EPAM Systems Inc.
• Coforge Limited
• Lochbridge Inc.
• Dell Technologies Inc.
• Rogers Communication Inc.
Regional Dominance: Which Area Leads the Global IoT Engineering Services Market?
North America was the largest region in the IoT engineering services market in 2024
