Internet of Things (IoT) is a physical object network that contains integrated technologies that allow it to connect, sense, and interact with internal or external environments. It is a collection of end-to-end services where companies contract with external vendors to design, build, install, and operate IoT solutions, including consulting advice for IoT planning. The main platform of Internet of Things (IoT) are device management, application management and device management. The process of managing the implementation, operation, and maintenance of a physical and/or virtual device is known as device management The various application include building and home automation, smart energy and utilities, smart manufacturing, connected logistics, smart retail, smart mobility and transportation, others that are used by BFSI, retail, government, healthcare, manufacturing, transportation, IT and telecom, among other end user industries. The internet of things (IoT) market research report is one of a series of new reports from The Business Research Company that provides internet of things (IoT) market statistics, including internet of things (IoT) industry global market size, regional shares, competitors with an internet of things (IoT) market share, detailed internet of things (IoT) market segments, market trends and opportunities, and any further data you may need to thrive in the internet of things (IoT) industry. This internet of things (IoT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global iot market size will grow from $399.41 billion in 2022 to $486.7 billion in 2023 at a compound annual growth rate (CAGR) of 21.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iot market size is expected to grow to $1057.55 billion in 2027 at a CAGR of 21.4%. The application of IoT in various industries such as automotive industry is driving the growth of the IoT market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control and data delivery at any transportation point. Major companies like Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient and more enjoyable driving experiences. According to UBS, 12% of the total cars sold in 2030 will be for autonomous taxi fleets with 26 million driverless taxis in operation worldwide, approximately. The concerns with data security impact the growth of the IoT market. The rate of data intrusions is also increasingly growing with the advances in technology. IoT systems are being newly built and often have loopholes that can help the hacker to easily enter the system, serving as a major obstacle to the growth of the market for IoT sensors, since enterprise data protection is of great importance when designing analytical solutions for many vertical applications. Ransomware and denial-of-service attacks (DoS attacks) will continue to rise and be among the most common cybersecurity threats. Therefore, the data security issues limit the growth of the IoT market. The IoT devices collect a great deal of data of all types. Managing this data and analyzing it will help maximize its value for the company. Data analytics will help in analysis of IoT data in several areas such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). In 2020, major cloud vendors such as Amazon, Microsoft and Google, are increasingly using data analytics for business improvement and various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value and make informed decisions from the increasing data volumes. In February 2022, Breadware LLC., a US-based IoT solutions company acquired Medium One Inc. for an undisclosed amount. The acquisition add Medium One platform to Breadware and enables it to develop and offer IoT-enabled products as well as integrated environment for quick and easy implementation of IoT products. Medium One Inc. is an American IoT software company. Major players in the IoT market are Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, Google Inc., Hewlett-Packard Enterprise, Amazon Web Services Inc., Bosch Software Innovation GmbH, Huawei Technologies, Intel Corporation, AT & T Inc., Hitachi Data Systems, General Electric, Bright Wolf, C3 IoT, Carriots, Concirrus, Connio, Cumulocity, Davra Networks, Device Insight, EVRYTHNG, Exosite, Autodesk SeeControl, BlackBerry, Accenture PLC., Alcatel-Lucent, Fujitsu Ltd., Dell Inc., PTC Inc., and SAP SE. Asia-Pacific was the largest region in the IoT market in 2022. North America was the second largest region in the global IoT market. The regions covered in IoT report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the IoT market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The Internet of Things (IoT) market includes revenues earned by entities by offering IoT solutions used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global IoT market is segmented - 1) By Platform: Device Management, Application Management, Network Management 2) By End Use Industry: BFSI, Retail, Government, Healthcare, Manufacturing, Transportation, IT & Telecom, Other End-User Industries 3) By Application: Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility And Transportation, Other Applications

Professional services refer to a wide range of specialized technical, knowledge-and-expert-based advisory support services provided to other businesses. Professional services help individuals, companies or organizations accomplish tasks or meet goals. Many career fields offer services focused on creating positive outcomes for customers. Professional services include design, research, promotional and consulting services, legal services, accounting services, and all other professional, scientific, and technical services. The term "legal services" refers to actions that help people exercise their legal and legislatively established liberties. The different service providers include large enterprises, small and medium enterprises, and involve various modes such as online and offline. The professional services market research report is one of a series of new reports from The Business Research Company that provides professional services market statistics, including professional services industry global market size, regional shares, competitors with a professional services market share, detailed professional services market segments, market trends and opportunities, and any further data you may need to thrive in the professional services industry. This professional services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global professional services market grew from $6,023.65 billion in 2022 to $6,382.56 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The professional services market is expected to grow from $7,770.09 billion in 2027 at a CAGR of 5.0%. The professional services Market growth is aided by the stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.5% in 2020, a 0.3% increase compared to previous years. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, India's GDP reached 7.2%, whereas China's GDP growth reached 6.0% in 2020. Stable economic growth is expected to increase investments in end-user markets, thereby driving the market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a restraint on the professional services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of "lock down." The outbreak has had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the professional services market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Cloud-based accounting software is increasingly preferred by accounting firms to enhance the ability to access and edit financial data through the internet, enhance security associated with financial transactions and reduce costs. Cloud-based accounting software is an accounting software similar to the software as a service (SaaS) model, hosted on remote servers to allow users to perform functions off-site. The accounting data is sent to the cloud, processed, and then returned to the user. This process saves time with automation, creates secure collaboration of financial reports, provides real-time data, and accesses financial data from anywhere. This tool allows users to access accounts from any device (smartphone, laptop, and others) through the internet; secure the data from online and offline threats; and offer better alternative solutions at lower costs than conventional tools. Major companies in the professional services market include Deloitte Touche Tohmatsu Limited, PwC, Ernst & Young, Accenture, KPMG, Total SA, PowerChina, WPP plc, Omnicom Group Inc., and Jacobs Engineering Group Inc. North America was the largest region in the professional services market in 2022. Western Europe was the second largest region in the professional services market. The regions covered in the professional services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the professional services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The professional services market consists of revenue earned by entities by offering services and providing support to businesses of all sizes, in all industries, and to individuals and institutions, in processes where human capital is the major input. Professional services establishments make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global professional services market is segmented - 1) By Type: Design, Research, Promotional And Consulting Services, Legal Services, Accounting Services, All Other Professional, Scientific, and Technical Services 2) By Service Provider: Large Enterprise, Small and Medium Enterprise 3) By Mode: Online, Offline Subsegments Covered: Photographic Services, Market Research Services, Advertising, Public Relations, And Related Services, Scientific Research And Development Services, Environmental Consulting Services, Management Consulting Services, Specialized Design Services, Architectural, Engineering Consultants And Related Services, B2B Legal Services, B2C Legal Services, Hybrid Legal Services, Criminal Law Practices, Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing and Other Accounting Services, Translation Services, Other Professional, Scientific, and Technical Services

The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. The main types of internet of things (IoT) services are professional services and managed services. A professional service is an intangible product that a contractor or product vendor sells to help a customer manage a specific part of their business. The various type of verticals are manufacturing, retail, IT & telecom, transportation & logistics, utilities, healthcare, energy, and others. The various applications of internet of things (IoT) services are smart buildings, smart manufacturing, smart transport and logistics, smart healthcare, smart retail, and smart energy. The internet of things (IoT) services market research report is one of a series of new reports from The Business Research Company that provides internet of things (IoT) services market statistics, including internet of things (IoT) services industry global market size, regional shares, competitors with an internet of things (IoT) services market share, detailed internet of things (IoT) services market segments, market trends and opportunities, and any further data you may need to thrive in the internet of things (IoT) services industry. This internet of things (IoT) services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global iot services market size will grow from $188.8 billion in 2022 to $214.47 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iot services market size is expected to grow to $400.78 billion in 2027 at a CAGR of 16.9%. An increase in the internet of things use cases is expected to drive the IoT service market. IoT use cases are the areas where IoT can be used for automating the process and increasing productivity. Over the years IoT has found its use in many areas such as manufacturing, farming, smartwatches, smart cities, transportation, and other fields, which has increased the need for IoT services that provide support by delivering services such as consulting, data management, network management, security services, and others. For instance, Telit, a leading IoT enabler, provides an IoT security system that helps users to control and monitor the surveillance along with collecting data and analyzing it to improve the security of buildings, turning them into smart buildings. The IoT use cases eventually increase the demand for IoT services and are expected to drive market growth. Low enterprise adoption is expected to hinder the IoT services market. Even though IoT has found it useful in many vertical industries, the enterprise adoption is low due to many factors such as little or no awareness, the involvement of more humans in the operating system gives a less or no room for automation and most importantly due to security concerns regarding the data. For instance, in October 2020, according to a research conducted by Bitdefender, a Romania-based cybersecurity company, 42% of the companies surveyed stated that they are following a “wait and see” strategy to observe the effect of IoT and 33% of businesses that are still on the fence about adopting IoT say they are unsure of the benefits for their industry. Low enterprise adoption thereby restrains the IoT services market. Edge or cloud computing is enhancing the deployment of workload on IoT devices. Edge or cloud computing is a solution that facilitates data processing and data storage in the cloud. For instance, Microsoft recently released its Azure IoT Edge, a managed service built on Azure IoT Hub that deploys the workloads like artificial intelligence, third party services, or own business logic on cloud and runs the workload on IoT edge device. Edge devices spend less time communicating with the cloud and react quickly to changes and operate reliably. Amazon provides two IoT software FreeRTOS and AWS IoT Greengrass, AWS IoT Greengrass extends AWS to the edge devices and they can act locally by generating the data and FreeRTOS is open source and operating system used for microcontrollers that makes low power edge devices easy to secure, deploy and manage. In September 2020, Accenture, an Ireland-based leading global professional service provider that provides strategy, digital, and technology services, has acquired cloud industrial Internet of Things consultancy SALT Solutions, headquartered in Würzburg, Germany for an undisclosed amount to expand its IoT services. The acquisition is expected to build cloud-based IoT platforms that “speed up and optimize clients’ production and logistics”. SALT Solutions will help clients improve how they operate factories and plants. SALT implements and maintains IT systems for production, operations and logistics at various companies such as automotive, manufacturing, consumer goods, chemicals and other companies. Major players in the internet of things (IoT) services market are Cisco Systems; Cognizant; Google; Infosys; Tieto Corporation; Virtusa Corporation; Accenture PLC; IBM; Tech Mahindra; Harman International Industries; Microsoft; Wipro; Hcl Technologies; Tata Consultancy Services Limited; AT and T; Honeywell International Inc.; Amazon; HP (Hewlett Packard); Intel Security Group; Apple and Qualcomm. Asia-Pacific was the largest region in the internet of things (IoT) services market in 2022. North America was the second largest region in the global internet of things (IoT) services market. The regions covered in the global internet of things (IoT) services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the internet of things (IoT) services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The Internet of Things (IoT) services market includes revenues earned by entities by providing IoT services that are used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global IoT services market is segmented - 1) By Type: Professional Services, Managed Services 2) By Vertical: Manufacturing, Retail, IT & Telecom, Transportation & Logistics, Utilities, Healthcare, Energy, Other Verticals 3) By Application: Smart Buildings, Smart Manufacturing, Smart Transport and Logistics, Smart Healthcare, Smart Retail, Smart Energy

Internet of Things (IoT) security refers to the safeguards and protections provided for cloud-connected devices such as home automation, SCADA machines, security cameras, and any other technology that connects directly to the cloud. The main types are network security, endpoint security, application security, cloud security, and others. Network security is a designed set of rules and configurations, used to protect the integrity, confidentiality and accessibility of computer networks and data using both software and hardware technologies. The IoT security components are solutions and services. The various applications of IoT security are healthcare and life sciences, infrastructure and cities, industrial systems and sensors, smart home and consumer, and transport and urban mobility. The IoT Security market research report is one of a series of new reports from The Business Research Company that provides IoT Security market statistics, including IoT Security industry global market size, regional shares, competitors with a IoT Security market share, detailed IoT Security market segments, market trends and opportunities, and any further data you may need to thrive in the IoT Security industry. This IoT Security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global iot security market size will grow from $5.09 billion in 2022 to $6.68 billion in 2023 at a compound annual growth rate (CAGR) of 31.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iot security market size is expected to grow to $20.04 billion in 2027 at a CAGR of 31.6%. As the population is growing, the need for sustainable development is of more important. Smart cities are well equipped with handling high traffic, population control, and better security for people. The execution for such a task can be done by installing IoT Devices in the smart cities. This involves connecting devices to one another, exchange data in a secured manner, forming a pattern and then providing a final solution. The remotely connected CCTV and automated incident detection (the use of computers to continuously monitor traffic conditions and detect incidents or traffic queues) allow a quicker response to threats. IoT led crowd management solutions help monitor and manage crowds of people across all sorts of gatherings. Smart street lighting helps to lower crime rates and improve driving conditions. This rising demand for security in the smart cities increases investment in the IoT Security Market. For instance, as on 12 November 2021, Indian Central Government released ? 27,235 crore ($ 3.67 billion) to States/Union Territories for the Smart Cities. Lack of awareness regards the importance of IoT security and risk-mitigating measures among the people may hinder the IoT security market growth. The IoT security service providers are impacted due to the lack of awareness as there are instances where the IoT devices have been attacked by malicious software and viruses. Installing an IoT device does not simply solve the problem of security concerns. For instance, according to a survey conducted by Trend Micro, IT Security firm, 86% of IT and security decision-makers across the globe believe that their organizations need to enhance their awareness of IoT threats. Furthermore, the survey stated that lack of awareness makes the organization fall and lead to thefts and data breaches. According to another survey conducted by Dynatrace, a software company, consumers continue to see a significant risk in IoT device security where two-thirds of them have encountered performance issues with potential risk. The increasing usage of block chain technology in order to protect data of IoT devices, enhance transparency and security, reduce costs, and increase efficiency is a new trend in the IoT Security market. Block chain is a distributed decentralized ledger and underlying technology of bitcoin (a cryptocurrency) which is shared database (can be saved, owned, updated at different levels), not managed by central authority, comprising secure transactions, authenticated and verifiable. The block chain technology is integrated into IoT networks to provide additional privacy and security. It helps in reduction of processing time and cost, records transactions of all connected IOT devices, ensures tracking connected devices, coordinates these devices and aid smooth transaction process, provides efficiency to compliance issues, avoid re-entries, data leakages and frauds, minimize time to settle losses and ensures cryptographic security. For instance, Atonomi provides IoT security solutions to IoT developers and manufacturers with blockchain based immutable identity and reputation tracking. Moreover, in August 2021, according to an article published by Aksjebloggen, a Norway-based provider of financial information, by 2024, it is anticipated that global spending on blockchain solutions will increase by 188% and reach $19 billion. In 2020, global spending on blockchain solutions is by 66% year over year. According to statistics, this amount is predicted to rise by $2.1 billion in 2021 and then by another $12.4 billion during the following three years. The European Telecommunications Standards Institute (ETSI), a Technical Committee on Cybersecurity (TY Cyber) released a first globally applicable standard for consumer IOT security, ETSI TS 103 645, so as to keep a security baseline for all internet-connected consumer products and provide a basis for future IoT certification schemes. This standard states that IoT devices must make it easy for consumers to delete their personal data when there is a transfer of ownership. The standard also requires the implementers to stop using universal default passwords as it may lead to a large number of security issues. It also allows the security researchers to report any kind of security flaw in the IoT device. In June 2020, Microsoft Corporation, a USA-based technology company that develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services acquired Cyber X, Inc. for $165 million. This acquisition will expand Microsoft Corporation Azure IoT security offerings, including Azure Sentinel, to cover devices in a variety of industrial settings. Cyber X, Inc., a USA-based Computer & Network Security company. Major players in the Internet of Things (IoT) security market are CisCo., IBM, Intel, Infineon, Symantec Corporation, Check Point Security Software, Gemalto, AT&T Inc., Alcatel-Lucent S.A, Allot, Fortinet, Mocana, Securithings, Centri, Armis, Forgerock, Newsky, PTC Inc., Verizon Enterprises Solutions, Trustwave, Siemens AG, Wurldtech Security, Axeda Machine Cloud, Huawei Technologies Co. Ltd., NETCOM On-Line Communication Services, Sophos, NSIDE Secure and ARM Holding. The Asia-Pacific was the largest region in the Internet of Things (IoT) security market in 2022. Asia-Pacific is expected to be the fastest-growing region in the global iot security market report during the forecast period. The regions covered in the global Internet of Things (IoT) security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the Internet of Things (IoT) security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The Internet of Things (IoT) security market includes revenues earned by entities by offering Internet of Things (IoT) security devices/ software to protect connected network infrastructure. IoT security is a specialized area that provides solutions for safeguarding smart devices, networks, other connected devices and centralized user hubs from unwanted manipulation. This industry includes establishments that provide security solutions to counter IoT security threats such as remote vehicle hijacking, privacy leaks, brute force attacks on passwords and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global IoT security market is segmented - 1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Types 2) By Application: Healthcare & Life Sciences, Infrastructure & Cities, Industrial System & Sensors, Smart Home & Consumer, Transport & Urban Mobility 3) By Component: Solution, Services

The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals, or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. IoT sensors are used in healthcare, automotive, transportation, manufacturing, and other industrial sectors. The main type of IOT sensors are temperature sensors, pressure sensors, humidity sensors, flow sensors, accelerometers, magnetometers, gyroscopes, inertial sensors, image sensors and others. Temperature sensors help in monitoring the temperature of a ship to log it automatically. The IOT sensors are applied across various areas such as building automation, industrial application, automotive application, healthcare application, retailing & logistics application, security application, agriculture application, other applications and used in healthcare, automotive and transportation, manufacturing/ industrial, others. The IoT sensors market research report is one of a series of new reports from The Business Research Company that provides IoT sensors market statistics, including IoT sensors industry global market size, regional shares, competitors with a IoT sensors market share, detailed IoT sensors market segments, market trends and opportunities, and any further data you may need to thrive in the IoT sensors industry. This IoT sensors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global IoT sensors market will grow from $6.2 billion in 2022 to $6.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global IoT sensors market is expected to grow to $8.67 billion in 2027 at a compound annual growth rate (CAGR) of 6.9%. The application of IoT in automotive and transport sectors is a key factor driving the growth of the IoT sensors market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. With industrial and commercial use, IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control, and data delivery at any transportation point. For instance, the companies like Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient and more enjoyable driving experiences. The driverless vehicles are likely to dominate the industry by 2030 according to NASDAQ estimates. Therefore, the application of IoT in automotive and transport industries is expected to drive the growth of the IoT sensors market. The data security concerns are a key factor hampering the growth of the IoT sensors market. The rate of data intrusions is also increasingly growing with the rising technology. IoT systems are being newly built, and safety requirements are lacking, this serves as a major obstacle to the growth of the market for IoT sensors, since enterprise data protection is of great importance when designing analytical solutions for many vertical applications. For instance, a group of researchers from Ruhr University Bochum in Germany identified a security problem in the common messaging apps WhatsApp which could allow hackers to spy on private group chats. According to Forbes, in 2021, 97% of the firms are impacted by a cybersecurity breach in their supply chain and 93% of them suffered a direct cybersecurity breach. Therefore, the data security concerns are expected to limit the growth of the IoT sensors market. The artificial intelligence is a key trend in the IoT sensors market. Artificial intelligence is the basic ingredient required to process the huge amount of data gathered these days, and to maximize its value for the company. AI will assist IoT data analysis in the following areas, such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). In 2020, based on their AI capabilities, the major cloud vendors, including Amazon, Microsoft and Google, are increasingly looking to succeed. Various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value from their ever-increasing data volumes. In July 2021, Taoglas, an Ireland-based provider of advanced antennas and next-generation IoT solutions, acquired Smartsensor Technologies for an undisclosed amount. This acquisition allows Taoglas to expand their industrial and enterprise-level IoT services and accelerates their connected smart services growth objectives. Smartsensor Technologies is an Australia-based full-service Internet of Things company. Major players in the IoT sensors market are Texas Instruments, TE Connectivity, NXP Semiconductors, STMicroelectronics, TDK Corporation, Infineon Technologies, Omron, Honeywell, Sensata Technologies, and Broadcom. Asia-Pacific was the largest region in the IoT sensors market in 2022. North America was the second-largest region in the global IoT sensors market. The regions covered in the global IoT sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the IoT sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The internet of things (IoT) sensors market consists of sales of temperature sensors, pressure sensors, humidity sensors, flow sensors, accelerometers, magnetometers, gyroscopes, and other internet of things (IoT) sensors. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global IoT sensors market is segmented - 1) By Product Type: Temperature sensors, Pressure sensors, Humidity sensors, Flow sensors, Accelerometers, Magnetometers, Gyroscopes, Inertial sensors, Image sensors, Other Product Types 2) By Application: Building Automation, Industrial Application, Automotive Application, Healthcare Application, Retailing & Logistics Application, Security Application, Agriculture Application, Other Applications 3) By End-user Industry: Healthcare, Automotive and Transportation, Manufacturing / Industrial, Other End-Users

IoT testing is a way to perform QA testing to verify the IoT device's performance, functionality, and security. The main types of IoT testing are functional testing, usability testing, security testing, compatibility testing, performance testing, network testing. Functional testing is a type of software testing in which the software system is validated against the functional requirements/specifications. The goal of functional tests is to test each function of a software application by providing appropriate input and comparing the output to the functional requirements. Software tools and hardware tools are used for IoT testing in connected cars, smart appliances, smart energy meters, wearable devices and smart healthcare devices. The IoT market research report is one of a series of new reports from The Business Research Company that provides IoT market statistics, including IoT industry global market size, regional shares, competitors with a IoT market share, detailed IoT market segments, market trends and opportunities, and any further data you may need to thrive in the IoT industry. This IoT market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global iot testing market size will grow from $0.89 billion in 2022 to $1.22 billion in 2023 at a compound annual growth rate (CAGR) of 36.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iot testing market size is expected to grow to $3.87 billion in 2027 at a CAGR of 33.6%. Rise in number of IoT (Internet of Things) devices in use increases the need to test the devices which drives the IoT testing market. IoT is a system of connected devices that can be accessed through internet. IoT is used in vast range of gadgets and applications such as smart watch, refrigerators, air conditioners, lock system, infrastructure and healthcare products. It is highly important to test the devices in order to ensure their connectivity, performance, usability and security. According to the estimates of Gartner, the number of IoT devices in use is expected to grow above 20 billion by 2026. This rise in use of IoT devices will contribute to the growth of the market. The IoT testing market lacks uniform standards for privacy and security that acts a barrier for growth of this market. IoT devices stores large data of the users which are vulnerable to hackers and currently the standards do not exist to monitor devices and interfaces. According to a survey conducted by Forbes, 98% of the respondents suppose that security issues will increase as the number of devices are rapidly increasing. Also, FDA recalled half a million RF enabled pacemakers of St Jude Medical when security issues were reported. Lack of regulatory standards puts the users at risk, restraining them from using IoT enabled devices thereby impacting the IoT testing market negatively. Virtualization for IoT test automation is the trend in the IoT testing market. The challenges in the traditional testing like scalability issues for connected devices, maintenance problem, issues in unit level code checking and high-performance deliverable problems can be resolved by virtualization in test automation. It helps in simulating hardware and software and matches the dependency with the real behavior to give proper test results. It speeds up the testing time and reduces the efforts. The sensor, API and service virtualization are some of the components with different roles. For example, Ericsson carried out the automation test in their office with 879 devices like window sensors, lights and occupancy sensors to demonstrate their Bluetooth mesh capabilities under system level simulator. The IoT testing market is regulated by government bodies such as Federal Trade Commission, Federal Communications Commission and others. For instance, Federal Trade Commission (FTC) of the USA regulates any illegal or anti-competitive behavior in the market and takes initiatives to ensure the security of a device. FTC has implemented acts for safety and security reasons for cases of security breach ranging from camera to routers against IoT providers. This regulation also applies to the USA based providers dealing outside the country. The act includes sanctions of fines, reinstitutions of victims, recalls of faulty devices, imprisonment and demands for documentary evidence. Section 45 of the Act includes rules for unfair method of competition and section 50 includes offenses and penalties. In July 2020, Mobileum, a US-based provider of analytics-based roaming, network security and risk management acquired SIGOS for an undisclosed amount. This acquisition will help Mobileum to provide end-to-end testing for 5G and IoT to its customers. SIGOS is a Germany-based provider of active testing and fraud detection technologies. Major players in the IoT testing market are HCL Technologies Ltd., Tata Consultancy Services Limited, Happiest Minds, RapidValue Solutions, AFour Technologies, Rapid7, Infosys Limited, Smartbear Software, Capgemini, Cognizant, Saksoft Ltd., Beyond Security, Ixia, NovacoastInc., Trustwave Holdings, Praetorian, Keysight technologies, IBM, Cigniti Technologies, Texas instruments, Zephyr and Apica System. The Asia-Pacific was the largest region in the IoT testing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the global iot testing market report during the forecast period. The regions covered in the global IoT testing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the IoT testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The IoT (Internet of Things) testing market includes revenues earned by entities by offering testing services for IoT, which include usability, security, connectivity, performance, regulatory testing, and others. IoT is a system of connected devices that can communicate and interact with each other and can be accessed through the internet. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global IoT testing market is segmented - 1) By Testing Type: Functional Testing, Usability Testing, Security Testing, Compatibility Testing, Performance Testing, Network Testing 2) By Testing Tools: Software Tools, Hardware Tools 3) By Applications: Connected Cars, Smart Appliances, Smart Energy Meters, Wearable Devices, Smart Healthcare Devices

The IoT connectivity management platform are platforms used in organizations to connect various devices, hardware, software, and connectivity technologies. The IoT connectivity management platform provides access to data and insights for analysis that helps to optimize deploy devices and increase the project success rate. Additionally, the IoT connectivity management platform reduces operational charges and increases the security of various devices connected in organizations. The main product types of IoT connectivity management platforms are cellular and non-cellular. Cellular refers to deploying various connectivity management platforms which use the current cellular network used by smartphones. The cellular IoT connectivity management platform does not require a separate set of networks for operating as it is operational with existing mobile networks. The various components include solutions and services that are deployed over the cloud and on-premises. The several applications include automotive, consumer electronics, retail, energy & utilities, finance & banking, healthcare, manufacturing, and others. The IoT connectivity management platforms market research report is one of a series of new reports from The Business Research Company that provides IoT connectivity management platforms market statistics, including IoT connectivity management platforms industry global market size, regional shares, competitors with an IoT connectivity management platforms market share, detailed IoT connectivity management platforms market segments, market trends and opportunities, and any further data you may need to thrive in the IoT connectivity management platforms industry. This IoT connectivity management platforms market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global iot connectivity management platform market size grew from $6.85 billion in 2022 to $8.08 billion in 2023 at a compound annual growth rate (CAGR) of 18.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The iot connectivity management platform market size is expected to grow to $15.49 billion in 2027 at a CAGR of 17.7%. The increasing deployment of IoT devices is significantly contributing to the growth of the IoT connectivity management platform market. The number of IoT devices in an enterprise is connected through an IoT connectivity management platform for data management, data transmission, communication, and smooth interaction of numerous devices in a single frame for the network to complete various business activities. The IoT Connectivity Management Platform offers faster network monitoring, troubleshooting, application management, lowering security threats, and other services to connected IoT devices. For instance, according to Forbes, a US-based business magazine, the global number of cellular IoT devices is expected to reach 3.5 billion by 2023. Therefore, increasing the deployment of IoT devices is significantly contributing to the growth of the IoT connectivity management market. Technological advancements have emerged as the key trend gaining popularity in the IoT connectivity management market. Major companies operating in the IoT connectivity management sector are focused on developing new technologically advanced solutions to optimize their business operations. For instance, in November 2020, Aeris, a US-based company operating in the IoT connectivity management platform, launched Aeris Cloud Connect based on cloud computing technology. Cloud computing technology gives users access to data storage, files, and servers through interconnected devices such as computers, tablets, smartphones, and others in an organization. Data is stored, processed, and managed by a third-party organization to manage the large data sets of the organization for the organization's smooth functioning. Aeris Cloud Connect establishes a private connection between Aeris Fusion IoT Network and clients' AWS (Amazon Web Services) cloud instances via an underlying MPLS (multi-protocol label switching) connection, allowing data transfer from IoT devices directly to the cloud without the use of a VPN (Virtual Private Network) and without the need for data sharing over the public internet. In May 2021, Planon, a UK-based software company, acquired Axonize for an undisclosed amount. Through this acquisition, Planon aims to strengthen its smart building systems by connecting buildings on a larger scale with an IoT connectivity management platform known as a 360-degree building digitization platform. It would offer services in smart buildings such as asset monitoring, resource management, the ecological footprint of assets, and others via the cloud, and it also provides security in data transfer and management. Axonize is an Israel-based software as a service (SaaS) company operating in the development of IoT connectivity management platforms. Major players in the IoT connectivity management platform market are Aerith, Cisco Systems Inc., Comarch SA, Emnify, Huawei Technologies Co. Ltd., Nokia Corporation, Truphone Limited, Telefonaktiebolaget LM Ericsson, Proximus Group, KORE Group Holdings Inc., Arm Limited, Hewlett Packard Enterprise Development LP, ZTE Corporation, Links Field Networks, Mavoco Ag, Swisscom AG, Sierra Wireless, and Vodafone Idea Limited. Asia-Pacific was the largest region in the IoT connectivity management platform market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT connectivity management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the IoT connectivity management platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The IoT connectivity management platform market consists of revenues earned by entities by providing data security services, application security services and endpoint security services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global iot connectivity management platform market is segmented - 1) By Product Type: Cellular, Non-Cellular 2) By Component: Solution, Services 3) By Deployment Type: Cloud, On-Premises 4) By Enterprise Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises 5) By Application: Automotive, Consulmer Electronics, Retail, Energy and Utlities, Finance and Banking, Healthcare, Manufacturing, Other Applications

The IoT telecom services refer to asset management and remote system monitoring, the most prominent IoT telecom application cases. Telecom firms link their different physical assets to the cloud and remotely monitor their operations, conduct firmware upgrades, investigate problems, and keep track of inventories. They are used to connect diverse physical assets to the cloud and remotely manage their operations. The main IoT telecom services types include business consulting services, device and application management services, installation and integration services, IoT billing and subscription management, and M2M billing management. Business consulting services involved in business planning, implementation, and others for IoT in telecom. The different IoT telecom services connectivity include cellular technologies, LPWAN, NB-IoT, and radio frequency-based. The IoT telecom services network management solutions include network performance monitoring and optimization, network traffic management, and network security management for applications in smart building and home automation, capillary networks management, industrial manufacturing and automation, energy and utilities, healthcare, and other applications. The IoT telecom services market research report is one of a series of new reports from The Business Research Company that provides IoT telecom services market statistics, including IoT telecom services industry global market size, regional shares, competitors with a IoT telecom services market share, detailed IoT telecom services market segments, market trends and opportunities, and any further data you may need to thrive in the IoT telecom services industry. This IoT telecom services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global IoT telecom services market size grew from $13.61 billion in 2022 to $18.46 billion in 2023 at a compound annual growth rate (CAGR) of 35.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The IoT telecom services market size is expected to grow to $62.44 billion in 2027 at a CAGR of 35.6%. The increase in adoption of 5G networks across the world will propel the IoT telecom services market during the forecast period. 5G is the 5th generation mobile network for higher speed and responsiveness of wireless networks. With increased 5G network speed, bandwidth, and lower latency, connected devices can communicate effectively, giving telecom companies quicker and better asset management and remote system monitoring options. According to a 2022 study conducted by Verizon, a US-based telecommunications company, and Incisiv, a US-based consumer industry insights company, the overall 5G adoption stands at about 13%, which is expected to triple by 2024. Therefore, increasing the adoption of 5G networks will drive the IoT telecom services market. Technological advancement is a key trend gaining popularity in the IoT telecom services market. Major market players are focusing on creating innovative technologies for strengthening their portfolios, such as integrated Internet of Things (IoT) solutions. For instance, in April 2021, Vi, an Indian telecom operator, announced its integrated Internet of Things (IoT) solutions for organizations to expand its IoT portfolio by offering solutions across industries for smart infrastructure, smart mobility, and smart utilities across its 5G-ready network. The new offering is a secure end-to-end IoT solution that includes connection, hardware, network, application, analytics, security, and support. In July 2022, Ericsson, a Sweden-based company engaged in networking and telecommunications, acquired Vonage for an undisclosed amount. With this acquisition, Ericsson strengthens its mobile network business. The deal allows Ericsson access to powerful building blocks to offer a full range of communications solutions, including Communications Platform as a Service (CPaaS), UCaaS, and CCaaS. Vonage is a US-based company engaged in cloud communications. Major players in the iot telecom services market are AT&T Intellectual Property, Verizon, Deutsche Telekom AG, Huawei Technologies Co, Aeris, China Mobile Limited, Entrust Datacard Corporation, HARMAN International, IBM, Modius Inc., Vodafone Group, Sprint Corporation, Swisscom AG, Singapore Telecommunication Limited, T-Mobile, Vodafone Group PLC, BT Group, CenturyLink, Nippon Telegraph & Telephone Corp, Panorama Software, SAP SE, Softbank Group Corp, Telefonica SA, Telstra, Sierra Wireless, PureSoftware, Sequans Communications, Orange, Telus and MediaTek. North America was the largest region in the IoT telecom services market in 2022. The regions covered in the IoT telecom services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the IoT telecom services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The IoT telecom services market includes revenues earned by entities by providing services such as IoT connectivity services, data storage and management, asset monitoring, and PaaS and SaaS solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global iot telecom services market is segmented - 1) By Service Type: Business Consulting Services, Device And Application Management Services, Installation And Integration Services, IoT Billing And Subscription Management, M2M Billing Management 2) By Connectivity: Cellular Technologies, LPWAN, NB-IoT, Radio Frequency-Based 3) By Network Management Solution: Network Performance Monitoring And Optimization, Network Traffic Management, Network Security Management 4) By Application: Smart Building And Home Automation, Capillary Networks Management, Industrial Manufacturing And Automation, Energy And Utilities, Smart Healthcare, Other Applications