IoT Engineering Services Market Size, Trend & Forecast 2022

Report provide a detailed information regarding major factors influencing the IoT engineering services market growth (drivers, restraints, opportunities, and challenges)

(EMAILWIRE.COM, December 21, 2018 ) The demand for IoT engineering services is said to be driven by the growing need for reduced system troubleshooting and enhanced operational efficiency, increasing requirement of risk mitigation to minimize the data loss, the increasing adoption of micro services, and the accelerating Social, Mobile, Analytics, and Cloud (SMAC) technologies.

[135 Pages Report] The IoT engineering services market size is expected to grow from USD 8.37 Billion in 2016 to USD 29.53 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period.

The IoT engineering services market is expected to gain a major traction during the forecast period.

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Objectives of the Study

1. To describe and forecast the global IoT engineering services based on
service types, end users, verticals, and regions
2. To profile the key players and comprehensively analyze their core competencies and positioning
3. To track and analyze the competitive developments, such as mergers and acquisitions; new service developments; and partnerships, agreements, and collaborations in the IoT engineering services market

APAC is expected to hold the largest market share in 2022 and estimated to grow at the fastest CAGR during the forecast period. The countries in this region are believed to be driving the market growth, owing to the increasing adoption of advanced technologies, steady economic growth, ongoing smart city initiatives, and fragmented competition among the players. The IoT service providers are looking at expanding the base of their services to most of the countries in the region, because of the improving infrastructure and other business strategic moves. The adoption of IoT engineering and testing services is said to be gaining traction in the region to transform the business operations. This region covers some of the potential countries, namely, China, Japan, South Korea, Indonesia, Thailand, Malaysia, and Singapore.

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The major vendors providing IoT engineering services are Aricent (US), Wipro (India), Capgemini (France), IBM (US), TCS (India), Happiest Minds (India), Infosys (India), Cognizant (US), eInfochips (US), RapidValue (US), and Tech Mahindra (India).