The global IoT services market is expected to decline from $143.48 billion in 2019 to $139.36 billion in 2020 at a rate of -2.87%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities that eventually led to a slowdown in the economy. The market is then expected to recover and reach $260.41 billion in 2023 at a rate of 23.17%.
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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 IoT technology for making them automated and smarter. 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 Segmentation –
The IoT Services market covered in this report is segmented
By Type: Professional Services, Managed Services
By Vertical: Manufacturing, Retail, IT & Telecom, Transportation & Logistics, Utilities, Healthcare, Energy, Others.
Global IoT Services Market Driver –
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.
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A Few Points From The Global IoT Services Market ToC
1. Executive Summary
2. IoT Services Market Characteristics
3. IoT Services Market Size And Growth
3.1. Global IoT Services Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global IoT Services Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. IoT Services Market Segmentation
5. IoT Services Market Regional And Country Analysis
5.1. Global IoT Services Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global IoT Services Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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