IoT Professional Service: Introduction
- Connecting and exchanging data with systems and devices over the internet without human intervention is known as Internet of Things (IoT).
- Making new strategies, accessing technologies, framing IoT architecture, planning road maps, developing use cases, and refining business processes in an organization are all done with the help of IoT professional service.
- IoT professional service is essential for some enterprises which has aimed at large scale digital transformation for business functioning.
- Handling the internet, ensuring uninterrupted communications, managing device vulnerability, managing data security risks etc. are done with the help of IoT professional service.
- IoT professional service enables cost reduction, provides efficiency & productivity, gives mobility & agility, and provides business opportunities and advanced customer service and experience.
- IoT professional services also help to analyze consumer behaviour and increase employment & revenue opportunities.
- The global IoT professional service market is projected to expand during the forecast period due to the rapid adoption of technologies, increasing digitalization, and rising use of the internet in various sectors.
Global IoT Professional Service Market: Dynamics
Global IoT Professional Service Market: Key Drivers
- The projected growth of the global IoT professional service market during the forecast period is attributed to increased connections of IoT such as IoT devices and medical devices.
- Increasing demand for IoT professional services in the transportation and industrial sectors is likely to drive the market during the forecast period.
- Growth of the IoT professional service market is due to development of wireless technology and increasing internet availability.
- Increasing demand for advanced technologies helps organizations to choose IoT professional services for their business.
- Collaborations, partnerships, and new product launches are offering opportunities to the IoT professional service market.
- However, the growth of global IoT professional services would inhibit due to lack of uniform regulatory standard and universal protocol and lack of providing universal standard or promising architectural services.
Impact of COVID-19 on the Global IoT Professional Service Market
- The COVID-19 pandemic has a severe impact on every business, enterprise, industrial, and government sector. Lockdown restrictions are leading to work in online mode for businesses and industrial sectors.
- During the lockdown, adoption of IoT connections have been increasing across various sectors such as manufacturing, utilities, healthcare, and transportation. Therefore, the demand for IoT professional services is expanding. All these factors are likely to boost the global IoT professional service market during COVID-19.
North America to Hold Major Share of the Global IoT Professional Service Market
- The global IoT professional service market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Growth of the market in North America is due to the early adoption of various technologies and globalization. North America dominates the global IoT professional service market due to growing economies.
- The IoT professional service market is booming in Europe due to growth in telecom and IT industries.
- The market in the Asia Pacific region is expanding rapidly due to increased adoption of advanced technologies, constant economic growth, and smart city projects.
Global IoT Professional Service Market: Competition Landscape
- Various local and global players are active in the IoT professional service market with a strong presence and well-established technologies.
- Rapid adoption of new advanced technological tools and the use of digital devices expands the growth of the IoT professional service market.
Key players operating in the global IoT professional service market include:
- DXC Technology
- Tata Consultancy Services
- Wipro Limited
- Oracle Corporation
- HCL Technologies
- Vodafone Group plc
- Tech Mahindra
- Ernst & Young Global Limited
- IBM Corporation
Global IoT Professional Service Market: Research Scope
Global IoT Professional Service Market, by Service Type
- IoT Consulting Service
- Business Consulting Service
- Technology Consulting Service
- Operational Consulting Service
- IoT Infrastructure Service
- Deployment Service
- Network Service
- Cloud Service
- System Designing and Integration Service
- Platform Development and Integration
- Mobile and Web Application Development
- Support and Maintenance Service
- Education and Training Service
Global IoT Professional Service Market, by Enterprise Size
- Large Enterprises
Global IoT Professional Service Market, by Application
- Smart Healthcare
- Smart Buildings
- Smart Retail
- Smart Manufacturing
- Smart Energy
- Smart Transport and Logistics
Global IoT Professional Service Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.