IoT Professional Services Market to Reach USD 203.96 Billion by 2031 with Established Companies Leading wit… – WhaTech

Internet of Things (IoT) Professional Services Market Size, Share, Growth Analysis, By Service Type(IoT Consulting Services (Technology Consulting Services, Business Consulting Services, Operational Consulting Services), IoT Infrastructure Services (Network Services), By Organization Size(Large Enterprises, Small and Medium-Sized Enterprises), By Application(Smart Building, Smart Manufacturing, Smart Transport & Logistics, Smart Healthcare), By Deployment Type(On-Premises and Cloud), By Region – Industry Forecast 2024-2031

Global Internet of Things (IoT) Professional Service Market size was valued at USD 116.7 billion in 2022 poised to grow from USD 124.1 billion in 2023 to USD 203.96 billion by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).

Rapid adoption and acceptance of Internet of Things (IoT) on a global level is bolstering the demand for internet of things (IoT) professional services. Increasing emphasis on the optimization of IoT connectivity and growing demand for better IoT device management will also play in the hands of IoT professional service providers across the forecast period. Leading technology and telecommunication companies are currently dominating the global IoT professional service space.

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AT&T

This American telecommunication giant is making waves in the IoT connectivity space by opting for partnerships and collaborations. From general users to enterprise users, almost all are projected to utilize AT&T’s IoT connectivity service in the United States in some form going forward.

• In 2023, Comcast and AT&T came aboard the 5G Open Innovation Lab as founding partners to foster innovation in the 5G IoT connectivity space. AT&T’s leadership stated that collaboration is the key to innovation.

Strategies of top companies in Internet of Things (IoT) Professional Services Market

Skyquest’s recently published Internet of Things (IoT) Professional Services Report provides detailed information and analysis on top companies in the Internet of Things (IoT) Professional Services Market.

Cisco

ATOS

This renowned French organization is known for its technology consulting and services around the world. The company focuses on providing the best data and technology services whilst working with advanced technologies such as IoT and edge computing. ATOS is working on revolutionizing the digital space through utilization of IoT for automation in different industry verticals.  

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Cognizant

A leading name in the information technology service business, Cognizant is now emerging as a top player in the IoT professional service market as well. The company helps other organizations opt for advanced technologies such as AI and IoT to help them stay updated.

• In January 2023, Mobica, a software service provider based in the United Kingdom was acquired by Cognizant. Via this move, the company expanded its IoT capabilities and extended its IoT services market share.

Accenture

The company’s extensive consulting experience also helps it become a big player in the IoT professional services market. This multinational professional service provider from the United States has emerged as a big name in the IoT service space. Acquiring new companies in the IoT space to expand its footprint in the market is what Accenture is currnet focusing on.

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The global internet of things (IoT) professional services market is rife with opportunities with the companies accounting for a substantial market share. Keeping an eye on these market players will be essential for any new and established IoT professional service provider in the long run. 

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