The Global Internet of Things (IoT) Professional Services Market is forecast to reach USD 168.20 Billion by 2028, according to a new report by Reports and Data. The artificial intelligence technology is the essential computer technology used in Smart manufacturing, Smart Transportation Logistics, Manufacturing, IT telecom, Smart buildings, and others. IoT professional services offer a portfolio of services and capabilities to take the complexity out of IoT, define the right strategy for the business and help to bring together the right mix of IoT products, partners, and services for your business. IoT can be complex, comprising multiple parts of the business, new approaches, technologies, and methods. IoT professional service can provide personalized advice, complementing expertise with the IoT and network experience. The escalating selection of digital technology and IT spending on the security services, the growing business models and government actions, the increasing mobile subscriber support as well as the expanding selection of the connected devices in the enterprise landscape and customers are all expected to drive the growth of IoT professional services market.
The favorable circumstances in the Internet of Things (IoT) Professional Services Market lie with the increasing adoption of smart farming, and growing demand for Cloud-Based services management platforms. IoT professional services are necessary for enterprises that are intending at a large-scale digital alteration of their business operations. The services enable them to define, design, and launch IoT-based systems with efficiency by providing end-to-end support for all phases of the deployment of IoT. This services are presented through a variety of phases - understanding the customer demands, architecture framing, high-level design, result validation, transformation readiness, program plan expansion, adoption readiness, deployment execution, business review, and value realization. The factors mentioned above jointly create opportunities for the market growth, while factors such as lack of uniform regulatory standards and universal protocols add limitations in the market. However, each element would have a specific impact on the market during the forecast period.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in RD activities are expected to boost market growth during the forecast period.
Competitive Landscape:
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Keyword market:
Accenture, Cognizant Technology Solutions Corporation, Atos SE, IBM Corporation, Infosys Limited, Happiest Minds, Capgemini, Tata Consultancy Services Limited, Tech Mahindra Limited, and Wipro Limited, among others.
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The global market is further segmented into type and application:
Deployment Type Outlook (Revenue, USD Billion; 2020-2028)
- On-Premises
- Cloud
End-Users Outlook (Revenue, USD Billion; 2020-2028)
- IT and Telecom
- Retail
- Manufacturing
- Transportation
- Energy and Utilities
- Construction
Service Type Outlook (Revenue, USD Billion; 2020-2028)
- IoT Consulting Service
- IoT Infrastructure Service
- System Designing and Integration Service
- Support and Maintenance Service
- Education and Training Service
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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