What is Internet of Things (IoT) Professional Services Market?
Internet of Things (IoT) Professional service is an intangible product that a contractor or product vendor sells to help a customer manage a specific part of their business. Because professional service providers have specialized knowledge about niche areas of interest, marketing, or accounting, such as law, they allow the customer to focus on core business concerns. The global professional service market is expected to grow at a moderate pace during the forecast period.
The market study is being classified by Type (Planning and Consulting, Software Development, Infrastructure Integration, Support and Maintenance, Education and Training and Others), by Application (Business Services, Network Services, Security Services, Infrastructure Services, Mobility Services and Communication & Collaboration Services) and major geographies with country level break-up.
Accenture (Ireland), Atos SE (France), IBM Corporation (United States), Capgemini (France), Cognizant (United States), Fujitsu (Japan), Hewlet-Packyard Enterprises (United States), NTT DATA Corporation (Japan), Genpact (United States), AT&T (US), Vodafone (United Kingdom), LUXOFT (Switzerland) and Prodapt Solutions PVT. LTD. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Tata Consulting Services (India), Infosys (India), Wipro Limited (India), Happiest Minds (India) and Tech Mahindra Limited (India).
The vendors in this market are majorly focusing on emerging markets in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time.The Players having a strong hold in the market are Accenture, Atos SE, IBM Corporation, and Capgemini.
AdvanceMarketAnalytics has segmented the market of Global Internet of Things (IoT) Professional Services market by Type, Application and Region.
On the basis of geography, the market of Internet of Things (IoT) Professional Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing IT Investment of Different Companies
- The proliferation of Connected Devices Across the Globe
- Growing Requirement for Highly Customized Professional Services in the Industrial and Transportation Sectors
- Growing Trend of Cloud Analytics & Big Data Implementation
- Lack of Uniform Regulatory Standards and Universal Protocols
- Increasing Development of Smart Cities Across the Globe
- Lack of Skilled Professionals
- Transition From Existing It Infrastructures to New Infrastructures
In January 2019, Accenture partnered with KPN to develop and test industrial applications for the 5G technology.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Professional Services
Key Target Audience
Internet of Things (IoT) Professional Services Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
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