Leading players in the Internet of Things (IoT) services market are Cisco Systems, Cognizant, Google, Infosys, Tieto Corporation, Virtusa Corporation, Accenture PLC, IBM, Tech Mahindra and Harman International Industries.
New York, 30 September 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “Global IoT Services Market Report 2021: Rising and Changing COVID -19 in 2030” – https://www.reportlinker.com/p06151545 /? utm_source = GNW
The global IoT services market is expected to grow from $ 139.24 billion in 2020 to $ 162.39 billion in 2021 with a compound annual growth rate (CAGR) of 16.6%. The increase is mainly due to enterprises resuming their operations and adapting to the new rate while recovering from the impact of COVID-19, which had previously led to restrictive measures that included social distancing, distance work and closure of commercial activities. which resulted in operational challenges. The market is expected to reach $ 381.16 billion in 2025 with a CAGR of 24%.
The Internet of Things (IoT) services market consists of IoT sales as services and their related products. Businesses act as a support for end-user companies by providing professional and managed services such as network management, data management platforms, infrastructure, and deployment of IoT technology to make them more automated and smarter. .
Internet of Things (IoT) services are provided by IoT service providers who provide consulting, security and analytics services according to business requirements.
The IoT services market covered in this report is segmented by type into professional services, managed services and vertically into manufacturing, retail, IT & telecom, transport & logistics, services, healthcare, energy, and more.
The regions included in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
Edge or cloud computing is increasing workload placement on IoT devices. Edge or cloud computing is a solution that facilitates data processing and data storage in the cloud.
For example, Microsoft recently launched the Azure IoT Edge, a managed service built into the Azure IoT Hub that places workloads like artificial intelligence, third-party services, or business logic in the cloud, and works 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 software IoT FreeRTOS and AWS IoT Greengrass, AWS IoT Greengrass extends AWS to edge devices and they can operate locally by generating data and FreeRTOS is an open source and operating system used for microcontrollers that makes devices powerful low easy to secure, deploy and manage.
In June 2019, Accenture, a leading Ireland-based global professional services provider providing strategic, digital and technology services, had purchased Deja vu Security for an undisclosed amount. The acquisition is expected to help Accenture increase the security of IoT-related devices and also to combat a $ 5.2 trillion threat to businesses worldwide. Deja vu Security is a leading security provider specializing in security design and testing of enterprise software platforms and IoT Technologies.
Low enterprise approval is expected to hamper the IoT services market. Although the IoT has found it useful in many vertical industries, enterprise adoption is low due to many factors such as little or no awareness, involving more people in the operating system gives less or no room for automation and most importantly due to data security concerns.
According to the Omida data survey, only 29% of enterprises have adopted IoT solutions in their business or enterprises in 2019. The low approval of enterprises thus restricts the market for IoT services.
Countries included in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, Great Britain, USA.
Read the full report: https://www.reportlinker.com/p06151545/?utm_source=GNW
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