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IoT Services Global Market Report 2022 – By Type (Professional Services, Managed Services), By Vertical (Manufacturing, Retail, IT & Telecom, Transportation & Logistics, Utilities, Healthcare, Energy), By Application (Smart Buildings, Smart Manufacturing, Smart Transport and Logistics, Smart Healthcare, Smart Retail, Smart Energy ) – Market Size, Trends, And Global Forecast 2022-2026

Starting Price : $4000.00 | Pages : 175 | Published : October 2022 | SKU CODE : 7576 | Delivery Time: 2-3 business days | Format :


The internet of things (IoT) services market consists of the sales of IoT as services and their related products. Business entities act as a support to the end-user companies by providing professional and managed services such as network management, data management platforms, infrastructure, and deployment of the IoT technology for making them automated and smarter. Internet of things (IoT) services are delivered by the IoT service providers who provide consulting, security, and analytics services as per the requirement of the business.

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 a 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 grew from $163.7 billion in 2021 to $188.8 billion in 2022 at a compound annual growth rate (CAGR) of 15.3%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The IoT services market is expected to grow to $340.61 billion in 2026 at a CAGR of 15.9%.

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 analysing 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. According to the Omida data survey, only 29% of enterprises have adopted IoT solutions into their business or enterprises in 2019. 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 2021. North America was the second largest region in the internet of things (IoT) services market. The regions covered in the internet of things (IoT) services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, 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 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, Others

3) By Application: Smart Buildings, Smart Manufacturing, Smart Transport and Logistics, Smart Healthcare, Smart Retail, Smart Energy

    Table Of Contents

    1. Executive Summary

    2. IoT Services Market Characteristics

    3. IoT Services Market Trends And Strategies

    4. IoT Services Market – Macro Economic Scenario

    4.1 COVID-19 Impact On IoT Services Market

    4.2 Ukraine-Russia War Impact On IoT Services Market

    4.3 Impact Of High Inflation On IoT Services Market

    5. IoT Services Market Size And Growth

    5.1. Global IoT Services Historic Market, 2016-2021, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global IoT Services Forecast Market, 2021-2026F, 2031F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. IoT Services Market Segmentation

    6.1. Global IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Professional Services

    Managed Services

    6.2. Global IoT Services Market, Segmentation By Vertical, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Manufacturing

    Retail

    IT & Telecom

    Transportation & Logistics

    Utilities

    Healthcare

    Energy

    Others

    6.3. Global IoT Services Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Smart Buildings

    Smart Manufacturing

    Smart Transport and Logistics

    Smart Healthcare

    Smart Retail

    Smart Energy

    7. IoT Services Market Regional And Country Analysis

    7.1. Global IoT Services Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    7.2. Global IoT Services Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    8. Asia-Pacific IoT Services Market

    8.1. Asia-Pacific IoT Services Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    9. China IoT Services Market

    9.1. China IoT Services Market Overview

    9.2. China IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    10. India IoT Services Market

    10.1. India IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11. Japan IoT Services Market

    11.1. Japan IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12. Australia IoT Services Market

    12.1. Australia IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13. Indonesia IoT Services Market

    13.1. Indonesia IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14. South Korea IoT Services Market

    14.1. South Korea IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15. Western Europe IoT Services Market

    15.1. Western Europe IoT Services Market Overview

    15.2. Western Europe IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16. UK IoT Services Market

    16.1. UK IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17. Germany IoT Services Market

    17.1. Germany IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18. France IoT Services Market

    18.3. France IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19. Eastern Europe IoT Services Market

    19.1. Eastern Europe IoT Services Market Overview

    19.2. Eastern Europe IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20. Russia IoT Services Market

    20.1. Russia IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21. North America IoT Services Market

    21.1. North America IoT Services Market Overview

    21.2. North America IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22. USA IoT Services Market

    22.1. USA IoT Services Market Overview

    22.2. USA IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23. South America IoT Services Market

    23.1. South America IoT Services Market Overview

    23.2. South America IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24. Brazil IoT Services Market

    24.1. Brazil IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25. Middle East IoT Services Market

    25.1. Middle East IoT Services Market Overview

    25.2. Middle East IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26. Africa IoT Services Market

    26.1. Africa IoT Services Market Overview

    26.2. Africa IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    27. IoT Services Market Competitive Landscape And Company Profiles

    27.1. IoT Services Market Competitive Landscape

    27.2. IoT Services Market Company Profiles

    27.2.1. Cisco Systems

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Cognizant

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Google

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Infosys

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Tieto Corporation

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The IoT Services Market

    29. IoT Services Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Table 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Table 3: Global IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 4: Global IoT Services Market, Segmentation By Vertical, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 5: Global IoT Services Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 6: Global IoT Services Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 7: Global IoT Services Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 8: Asia-Pacific, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 9: China, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 10: India, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 11: Japan, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 12: Australia, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 13: Indonesia, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 14: South Korea, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 15: Western Europe, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 16: UK, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 17: Germany, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 18: France, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 19: Eastern Europe, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 20: Russia, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 21: North America, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 22: USA, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 23: South America, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 24: Brazil, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 25: Middle East, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 26: Africa, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 27: Cisco Systems Financial Performance
  • Table 28: Cognizant Financial Performance
  • Table 29: Google Financial Performance
  • Table 30: Infosys Financial Performance
  • Table 31: Tieto Corporation Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Figure 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Figure 3: Global IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 4: Global IoT Services Market, Segmentation By Vertical, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 5: Global IoT Services Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 6: Global IoT Services Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 7: Global IoT Services Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 8: Asia-Pacific, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 9: China, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 10: India, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 11: Japan, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 12: Australia, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 13: Indonesia, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 14: South Korea, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 15: Western Europe, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 16: UK, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 17: Germany, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 18: France, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 19: Eastern Europe, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 20: Russia, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 21: North America, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 22: USA, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 23: South America, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 24: Brazil, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 25: Middle East, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 26: Africa, IoT Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 27: Cisco Systems Financial Performance
  • Figure 28: Cognizant Financial Performance
  • Figure 29: Google Financial Performance
  • Figure 30: Infosys Financial Performance
  • Figure 31: Tieto Corporation Financial Performance
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