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" https://www.techsciresearch.com/report/global-iot-engineering-services-market/1507.html
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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