Smart City Initiative is Expected to Drive India IoT Professional Services Market Growth by 2028
Government initiatives are
expected to increase the adoption rate of IoT devices, making more
organizations rely on professional services for deployment and further
management during the forecast period of 2024-2028.
According to
TechSci Research report, India IoT Professional Services Market Size, Share,
Trends, Opportunity, and Forecast. 2018–2028, the IoT Professional Services
market is expected to register a robust growth during the forecast period,
2024-2028. IoT professional services include consulting, system
integration, deployment and support, and maintenance services. These services
help organizations to design, develop, and implement IoT solutions that can
capture, analyze, and leverage data to improve their business processes and
create new revenue streams.
The key factors
driving the growth of the IoT professional services market in India include the
increasing adoption of IoT technologies across various industry verticals, the
availability of skilled IoT professionals, and the government's push towards
digitalization and smart cities. Owing to the enormous success of Indian software companies,
the Indian software industry has also been successful in making a name for
itself abroad. With a workforce of about four million, this sector has played a
key role in propelling the country's economy on a rapid growth curve. There are
over a 1,000 global delivery centers operated by Indian IT & ITeS companies
located in about 80 different nations. This shows that provisioning services
are becoming more and more important for IoT devices.
Growth in the India
IoT professional services market is also attributed to the development of
wireless technology and increasing internet availability. The
growing adoption of smart farming has increased the demand for cloud-based
service management platforms. Moreover, enterprises planning the large-scale
digital transformation of their business operations need professional IoT
services. This service helps you efficiently define, design, and deploy
IoT-based systems by providing end-to-end support for all phases of IoT deployment,
thereby driving the India IoT professional’s services market.
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India IoT professional services market is
segmented based on service type, organization size, deployment type, and end-use
industry. Based on service type, the market is segmented into IoT consulting
service, IoT infrastructure service, system designing & integration
service, support & maintenance service, and education & training
service. The growth of smart
manufacturing operations has directly influenced the demand for IoT consulting
services as manufacturing plants hop into the drive toward digital
transformation. The return on investment of leveraging consulting services is
built on the financial savings enabled by IoT. Professional
services help companies streamline device logistics including authentication,
configuration, provisioning, and management. Customer preference for deployment
services is based on end-to-end solutions, along with easy access and
distribution channels. Companies such as AT&T provide end-to-end certified
deployment services in over 150 countries and territories, including device
authentication, configuration (Firmware Over the Air (FOTA)/Software of the Air
(SOTA)). These advancements by the market players are driving the growth in the
India IoT professional services market.
System design and integration services
provide a full range of IoT ecosystem designs, facilitate enterprise
integration of IoT solutions, and sustain operating systems and business
projects. System design service providers plan complete IoT systems to reduce
business complexity and improve organizational profitability.
Based on deployment type, the market is bifurcated into cloud and
on-premises. The cloud deployment type segment is projected to register the
highest CAGR during the forecast period. Professional services portfolio is created
to reduce the complexity of IoT systems. With the proliferation of connected
devices allowing enterprises to focus on their core business, there is a
growing demand for managed services. A key benefit of professional services is
the know-how available to the customer.
Key market
players in the IoT Professional Services market:
- Infosys
Technologies Limited
- Tata Consultancy
Services Limited
- Wipro
Technologies
- HCL Technologies
- Redington
(India) Ltd
- Tech Mahindra
- L&T Infotech
- Mphasis Ltd
- Mindtree Ltd
- Oracle Financial
Services Software Ltd (OFSSL)
Convergence
Acceleration Solutions, LLC, a U.S.-based consulting, and program management
firm that specializes in accelerating significant business and technological
transformation, has been acquired by Wipro Limited, a leading global provider
of information technology, consulting, and business process services.
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“The demand for IoT
professional services is anticipated to grow during the forecast period owing to
rising investments in India. As the region is home to major telecom industry
players such as Infosys Technologies Limited and Tata Consultancy Services
Limited which continually invest in evolving their infrastructure to keep up
with technological advances. This is expected to drive the adoption of
professional IoT services during the forecast period. Moreover, fast and secure 5G
connectivity is expected to accelerate the adoption of IoT devices, enabling
agile operations and flexible production. This technology aims to facilitate
automated assembly, warehousing, connected logistics, packaging, product
handling, and autonomous carts. Additionally, the IoT and digital solutions
visibility in the industry is significantly higher in India.” said, Mr. Karan
Chechi, Research Director with TechSci Research, a research-based India
management consulting firm.
“IoT professional services
Market Segmented By Service Type (IoT Consulting
Service, IoT Infrastructure Service, System Designing & Integration
Service, Support & Maintenance Service, and Education & Training
Service), By Organization Size (SMEs, Large Enterprises), By Deployment Type
(Cloud, On-premises), By End Use Industry (IT & Telecom, Retail,
Manufacturing, Healthcare, BFSI and Others), By Region and Competition has evaluated the future growth potential of India IoT professional
services market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in IoT professional services market.
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