According to a new market research report "IoT Solutions and Services Market by Component (Platform, Solution And Services), Service (Consulting, and Integration and Deployment), Vertical (Smart Manufacturing, Smart Energy and Smart Transportation), and Region - Global Forecast to 2024"published by MarketsandMarkets™, the IoT Solutions and Services Market size expected to grow from USD 139.3 billion in 2019 to USD 278.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period.
Major factors fueling the market growth are the growing number of connected devices and need of predictive analysis for verticals such as smart manufacturing, smart energy etc.Browse in-depth TOC on "IoT Solutions and Services Market”4-Tables10- Figures 164- PagesRequest PDF Brochure @https://www.marketsandmar-kets.com/pdfdownloadNew.asp?id=120466720The data analytics and machine learning solutions segment to hold a larger market size during the forecast periodThe IoT Solutions and Services Marketis segmented into data analytics and machine learning, complex event processing, cybersecurity, and network management by solutions.
The data analytics and machine learning segment is expected to have a larger market size during the forecast period, owing to the need to perform analysis of large amount of data generated by connected devices across the industry verticals.By application, asset management and predictive maintenance segment to have the largest market shareThe IoT Solutions and Services Market by application has been segmented into Remote asset monitoring/predictive maintenance, product optimization, workforce Tracking, safety and emergency management, Identity Access Management, energy efficiency, parking management, water management, telemedicine, clinical operations management, imaging and diagnostics, remote patient monitoring, energy consumption, energy transmission and distribution, production optimization, cargo tracking, fleet management, warehouse management.
So, in order to build a IoT-based solution using a combination of IoT components supplied from different vendors, managed service providers are providing the necessary skills to evaluate, acquire, integrate, and deploy IoT-based solutions.
North American market is dominated by manufacturing and transportation industry in adoption of IoT.
All these initiatives have demonstrated higher demand for professional services, including consulting, implementation and deployment, and support and maintenance services.Major IoT solutions and services vendors include Accenture (Ireland) , Atos (France), IBM (US), DXC Technology (US) Deloitte (UK), Cisco (US), Huawei(China), Sierra Wireless (Canada), ARUBA HPE (US), Microsoft (US), AWS (US), PTC (US), and Oracle (US) .About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues.