Dublin, Oct. 25, 2022 (GLOBE NEWSWIRE) -- The "IoT Solutions and Services Market by Component (Solutions and Services), Organization Size, Deployment Mode, Focus Area (Smart Manufacturing, Smart Energy and Utilities, and Smart Retail) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The IoT solutions and services market is projected to grow from USD 243.1 billion in 2022 to USD 575.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period.
The IoT Solutions and Services market is expected to grow at a rapid pace due to the evolution of new technologies, and adoption and scaling of digital initiatives.
The internet of things (IoT) is defined as an extension of the internet and other network connections to various sensors and devices or `things,` allowing even simple objects such as lightbulbs, locks, and vents to have more processing and analytical capabilities. One of the important elements of the IoT that contributes to its growing popularity is interoperability. Connected or `smart` devices, often known as `things` in the IoT, can collect and share data from their surroundings with other devices and networks. Devices can perform their jobs with little or no human contact specifically for data analysis and processing.
Given the growing number of connected devices, the Internet of Things (IoT) will continue to evolve, adding layers to the data that is currently being shared and analyzed and giving rise to complex algorithms that result in increased automation. Because of the wide range of `things` that may be connected to it, the IoT has opened up a world of possibilities for both individual users and large industries.
The on-premises segment to have the larger market size during the forecast period
Among deployment mode, the on-premises segment is estimated to grow with the larger market size during the forecast period. The increasing generation of data leads to various challenges for several organizations. These challenges include storage, privacy, and affordability.
The Large Enterprises segment to hold a higher CAGR during the forecast period
Among the organization size, the large enterprises are projected to lead the market. The adoption of IoT Solutions and Services and services among large enterprises is elevated as large enterprises use IoT Solutions and Services solutions for specific use cases. They are challenged with the problematic assignment of fundamentally managing security because of the distinct nature of IT infrastructure, which is complicated in nature. Large enterprises must create digital infrastructure and focus on leadership and organization structure by creating central innovation groups to drive the digital objectives.
Among regions, Asia Pacific to hold the highest CAGR during the forecast period
Asia Pacific is expected to grow at a good pace during the forecast period. The need to improve and streamline business processes and support decision-making is driving the demand for IoT Solutions and Services in the Asia Pacific. Hence, IoT Solutions and Services vendors in this region focus on innovations related to their product line. China, Japan, and India have displayed ample growth opportunities in the IoT Solutions and Services market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Global IoT Solutions and Services Market
4.2 Market: Top Three Focus Areas
4.3 Market, by Region
4.4 North America: Market, by Solution and Focus Areas
5 Market Overview and Industry Trends
5.1 Market Overview
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Proliferation of IoT Devices
5.2.1.2 Availability of High-Speed Connectivity
5.2.1.3 Increase in Cloud Adoption
5.2.1.4 Increasing Use of Data Processing and Analytics
5.2.2 Restraints
5.2.2.1 Data Security and Privacy
5.2.2.2 Lack of Advancements in Communication Technology and Poor Operational Efficiency in Developing Economies
5.2.3 Opportunities
5.2.3.1 Increase in Smart City Initiatives Worldwide
5.2.3.2 Increase in Connected Devices to Drive Growth of IoT
5.2.3.3 Emerging 5G Technology to Help IoT Adoption Globally
5.2.4 Challenges
5.2.4.1 Lack of Knowledge Among People About IoT and Smart Cities
5.2.4.2 Lack of Technically Skilled Workforce
5.3 Regulatory Impact
5.4 Use Cases
5.4.1 Use Case 1: Container Terminal Improved Operations Performance with Cisco IoT
5.4.2 Use Case 2: AWS Bayer Innovation Lab Provided Smart Pest Monitoring Solution to Pharmaceutical Company
5.4.3 Use Case 3: Huawei Elte-IoT Network Upgraded Mexican Power Grid
5.4.4 Use Case 4: Titan Improved Production Visibility and Accuracy with Oracle
5.4.5 Use Case 5: Low Voltage Motor Factory Used Siemens Mindsphere to Improve Machining Time
5.5 Value Chain Analysis
5.6 Ecosystem
5.7 Patent Analysis
5.8 Pricing Analysis
5.9 Technology Analysis
5.10 Trends and Disruptions Impacting Buyers
5.11 Porter's Five Forces Analysis
5.12 IoT Solutions and Services Market: COVID-19 Impact
5.13 Tariff and Regulatory Landscape
5.14 Key Stakeholders & Buying Criteria
6 IoT Solutions and Services Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Component: COVID-19 Impact
6.2 Solutions
6.2.1 Solutions: Market Drivers
6.2.2 Smart Surveillance
6.2.2.1 Smart Surveillance: Market Drivers
6.2.3 Data Management
6.2.3.1 Data Management: Market Drivers
6.2.4 Device Management
6.2.4.1 Device Management: Market Drivers
6.2.5 Application Management
6.2.5.1 Application Management: IoT Solutions and Services Market Drivers
6.2.6 Network Management
6.2.6.1 Network Management: Market Drivers
6.3 Services
6.3.1 Services: Market Drivers
6.3.2 Professional Services
6.3.2.1 Professional Services: Market Drivers
6.3.2.2 Consulting
6.3.2.3 Consulting: Market Drivers
6.3.2.4 Deployment & Integration
6.3.2.5 Deployment & Integration: Market Drivers
6.3.2.6 Support & Maintenance
6.3.2.7 Support & Maintenance: IoT Solutions and Services Market Drivers
6.3.3 Managed Services
6.3.3.1 Managed Services: Market Drivers
7 IoT Market, by Deployment Mode
7.1 Introduction
7.1.1 COVID-19 Impact on the IoT Market, by Deployment Mode
7.1.2 Deployment Mode: IoT Market Drivers
7.2 On-Premises
7.3 Cloud
8 IoT Solutions and Services Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Market Drivers
8.1.2 Organization Size: COVID-19 Impact
8.2 Small and Medium-Sized Enterprises
8.2.1 Small and Medium-Sized Enterprises: Market Drivers
8.3 Large Enterprises
8.3.1 Large Enterprises: Market Drivers
9 IoT Solutions and Services Market, by Focus Area
9.1 Introduction
9.1.1 Focus Area: Market Drivers
9.1.2 Focus Area: COVID-19 Impact
9.2 Smart Manufacturing
9.2.1 Smart Manufacturing: Market Drivers
9.2.2 Asset Tracking & Remote Management
9.2.2.1 Asset Tracking & Remote Management: IoT Solutions and Services Market Drivers
9.2.3 Production Optimization
9.2.3.1 Production Optimization: Market Drivers
9.2.4 Workforce Management
9.2.4.1 Workforce Management: Market Drivers
9.3 Smart Transportation/Mobility
9.3.1 Smart Transportation/Mobility: Market Drivers
9.3.2 Traffic Management
9.3.2.1 Traffic Management: Market Drivers
9.3.3 Cargo Monitoring
9.3.3.1 Cargo Monitoring: Market Drivers
9.3.4 Fleet Management
9.3.4.1 Fleet Management: Market Drivers
9.3.5 Ticketing & Toll Collection
9.3.5.1 Ticketing & Toll Collection: IoT Solutions and Services Market Drivers
9.4 Smart Energy & Utilities
9.4.1 Smart Energy & Utilities: Market Drivers
9.4.2 Energy Efficiency
9.4.2.1 Energy Efficiency: Market Drivers
9.4.3 Energy Consumption
9.4.3.1 Energy Consumption: Market Drivers
9.4.4 Energy Transmission & Distribution
9.4.4.1 Energy Transmission & Distribution: Market Drivers
9.5 Smart Retail
9.5.1 Smart Retail: Market Drivers
9.5.2 Geomarketing & Advertising
9.5.2.1 Geomarketing & Advertising: IoT Solutions and Services Market Drivers
9.5.3 Smart Payment & Customer Experience
9.5.3.1 Smart Payment & Customer Experience: Market Drivers
9.6 Connected Healthcare
9.6.1 Connected Healthcare: Market Drivers
9.6.2 Telemedicine
9.6.2.1 Telemedicine: Market Drivers
9.6.3 Clinical Operations Management
9.6.3.1 Clinical Operations Management: Market Drivers
9.6.4 Imaging & Diagnostics
9.6.4.1 Imaging & Diagnostics: Market Drivers
9.7 Smart Agriculture
9.7.1 Smart Agriculture: IoT Solutions and Services Market Drivers
9.7.2 Field & Crop Monitoring
9.7.2.1 Field & Crop Monitoring: Market Drivers
9.7.3 Weather Monitoring
9.7.3.1 Weather Monitoring: Market Drivers
9.8 Smart Buildings
9.8.1 Smart Buildings: Market Drivers
9.8.2 Identity & Access Management
9.8.2.1 Identity & Access Management: Market Drivers
9.8.3 Smart Water Management
9.8.3.1 Smart Water Management: Market Drivers
9.8.4 Automation & Control
9.8.4.1 Automation & Control: Market Drivers
9.9 Other Focus Areas
10 IoT Solutions and Services Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Key Player Strategies
11.3 Revenue Analysis
11.4 Market Share Analysis
11.5 Company Evaluation Quadrant
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
11.6 Startup/SME Evaluation Quadrant
11.6.1 Progressive Companies
11.6.2 Responsive Companies
11.6.3 Dynamic Companies
11.6.4 Starting Blocks
11.7 Competitive Benchmarking
11.8 Competitive Scenario
11.8.1 Product Launches
11.8.2 Deals
12 Company Profiles
12.1 Major Players
12.1.1 Siemens
12.1.2 Microsoft
12.1.3 AWS
12.1.4 Oracle
12.1.5 Cisco
12.1.6 Qualcomm
12.1.7 SAP
12.1.8 IBM
12.1.9 Google
12.1.10 Intel
12.1.11 Oxagile
12.1.12 Fujitsu
12.1.13 Aeris Communications
12.1.14 Hitachi
12.1.15 GE Digital
12.1.16 Ptc
12.1.17 Arm
12.1.18 Software Ag
12.2 Startup/SMEs Players
12.2.1 Particle
12.2.2 Hqsoftware
12.2.3 Telit
12.2.4 ClearBlade
12.2.5 Ayla Networks
12.2.6 Hologram
12.2.7 Losant
12.2.8 Samsara
12.2.9 Litmus Automation
12.2.10 Confidex
13 Adjacent Markets
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/a4wc9k
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