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IoT professional Services Market worth $158.9 billion by 2027 - Exclusive Report by MarketsandMarkets™CHICAGO, Nov. 2, 2022 /PRNewswire/ -- The Global IoT professional Services Market is expected to account for USD 158.9 billion by 2027 from USD 116.7 billion by 2022, growing at a CAGR of 6.4% during the forecast period, according to a new report by MarketsandMarkets™. The major factors driving the growth of the IoT professional Services Market include the shift toward digital transformation, increasing adoption of IoT-based solutions and need of networked devices.  Browse in-depth TOC on "IoT professional Services Market" 291 - Tables Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93273117 IoT allows enterprises to become more sophisticated with ongoing operational availability of knowledge while lowering operating costs since it is connected to a huge number of devices to the internet. IoT will enhance asset monitoring by leveraging sensors and networks to track assets (tools, machinery, equipment, and so forth), allowing businesses to gain from real-time experiences. IoT creates new business opportunities and allows enterprises to profit from new revenue streams produced by cutting-edge strategies and solutions. IoT-driven innovations create strong business cases, shorten time to market, and increase return on investments. Based on service type, the IoT consulting services segment is projected to hold the largest market size during the forecast period Due to its use in devising various strategies, developing use cases, planning roadmaps, evaluating technologies, and defining IoT architectures, the category of IoT consulting services is anticipated to expand with the biggest market share. IoT consulting service providers make sure that firms design and implement the appropriate IoT applications and infrastructure. They assist businesses in building new IoT infrastructures and improving their current ones. IoT consulting service providers also assist non-IT businesses with limited IT skills in understanding IoT technologies. During the projected period, these factors collectively contributed to the growth of the global IoT professional Services Market in the IoT consulting services category. Based on Deployment type, the cloud segment is projected to be the fastest market during the forecast period Due to its capacity to scale and be agile within enterprises, the cloud category is expected to develop at the highest CAGR during the projected period. Compared to on-premises IoT professional services, it offers more features at a lower price. Because of the rapid improvements in cloud technology, businesses are more likely to use affordable cloud-based solutions. In order to perform IoT data analysis, aggregation, and filtering operations closer to the source of the data, around half of the industry uses and adapts these technologies. Businesses are choosing cost-effective cloud-based soluions more and more due to the quick advancements in cloud technology. SMEs and big businesses may focus on their core competencies rather than IT operations thanks to the adoption of cloud based IoT professional services. Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=93273117 APAC is expected to grow at a higher CAGR during the forecast period The APAC region will have extensive growth opportunities in the next 5 years. As the high-speed networking and digital infrastructure are improving in this region, the IoT based solutions and sensor-based data collection trend are also gaining momentum. The region encompasses developed and developing economies, such as Australia, Japan, Singapore, China, India, New Zealand, and South Korea. The developed countries in this region are expected to experience significant growth because of greater technological infrastructures. Developing countries, on the other hand, are gradually adopting IoT Professional services to advance and streamline their business processes. Major vendors operating in the IoT professional Services Market include Accenture (Ireland), Atos (France), IBM (US), Cognizant (US), DXC Technology (US), Deloitte (UK), Capgemini (France), TCS (India), NTT DATA (Japan), Infosys (India), AT&T (US), Wipro (India), General Electric (US), Honeywell (US), Oracle (US), HCL Technologies (India), EY (UK), Unisys (US), Vodafone (UK), Tech Mahindra (India), Happiest Minds (India), Mindtree (India), Prodapt (India), Siemens Advanta Consulting ( Germany), ORBCOMM (US), PureSoftware (India), Velvetech (US), Jaarvis (Australia), Eseye (UK), Cuelogic (US). Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting Related Reports: Business Email Compromise (BEC) Market - Global Forecast to 2027 Transportation Management System Market - Global Forecast to 2027 Smart Hospitality Market - Global Forecast to 2027 Internet of Things Market - Global Forecast to 2026 Smart Building Market - Global Forecast to 2026 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. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". 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