Press Release

IoT Engineering Services Market to Grow at 23% CAGR by 2023

Ongoing Industrie 4.0 revolution, rapidly proliferating adoption of SMACT technologies (Social Media, Mobile technology, Advanced Analytics, Cloud and Internet of Things (IoT) ), and burgeoning security engineering and risk mitigation demand to fuel global IoT engineering services market through 2023  


According to TechSci Research report, Global IoT Engineering Services Market By Service, By End User Sector, By Region, Competition Forecast & Opportunities, 2013 – 2023, IoT engineering services market, globally, is forecast to exhibit a CAGR of 23.48%, in value terms, during 2018-2023. Increasing penetration of SMACT technologies, digital manufacturing momentum, and ongoing Industrie 4.0 revolution are among the key factors expected to drive growth in the market. Moreover, increasing demand for smart & connected things, rising number of government initiatives to promote smart technology, and growing adoption of Digital Twin technology is anticipated to boost demand for IoT engineering services across the globe in coming years.


Browse 84 market data Tables and 86 Figures spread through 180 Pages and an in-depth TOC on "Global IoT Engineering Services Market"


On the basis of service, security engineering segment is likely to grow at the fastest rate in the global IoT engineering services market, owing to increasing data privacy and theft and loss concerns, on account of growing business-technology interdependencies giving rise to these business vulnerabilities. During the forecast period, share of healthcare sector is expected to grow at a robust pace in the market, majorly due to increasing global focus on healthcare quality quotient, giving rise to reformed, intelligent, connected and mobile healthcare services. North America is expected to dominate the regional market share, owing to the tech-savvy population, digitalized governance and rich economy of the constituting countries such as the US and Canada.  

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“There has been an increase in the adoption of IoT engineering services across various end user sectors, attributed to increasing demand for automation, data analytics, operational efficiency enhancement and heightened security concerns. Moreover, smart technology penetration, rapidly proliferating commercialization, ongoing digital revolution, evolving business infrastructure and burgeoning security vulnerabilities are resulting in demand for IoT engineering services across the globe“, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


Global IoT Engineering Services Market By Service, By End User Sector, By Region, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of the IoT engineering services market and has also provided the statistics and information on market structure, size, share and future growth of global IoT engineering services market. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities existing in the market.

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