Learn about the global IoT services market through The Business Research Company, which provides information on IoT services market size, IoT services market drivers and restraints, IoT services market players, the COVID-19 impact on the IoT services market, and more.

The global IoT services market size is expected grow from $163.70 billion in 2021 to $188.80 billion in 2022 at a compound annual growth rate (CAGR) of 15.3%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The internet of things services market is expected to reach $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.

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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.

Global Iot Services Market Segments Include:

By Type: Professional Services, Managed Services

By Vertical: Manufacturing, Retail, IT and Telecom, Transportation and Logistics, Utilities, Healthcare, Energy, Others

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

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the internet of things (IoT) services market in 2021.

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.

TBRC’s IoT services market report covers:

Major Market Players: 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&T, Honeywell International Inc., Amazon, HP (Hewlett Packard), Intel Security Group, Apple, and Qualcomm.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The IoT Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides IoT services market overviews, analyzes and forecasts market size, share, IoT services market players, IoT services market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s IoT services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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