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IoT Engineering Services Market Worth 29.53 Billion USD by 2022


News provided by

MarketsandMarkets

06 Nov, 2017, 15:00 GMT

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PUNE, India, November 6, 2017 /PRNewswire/ --

According to a new market research report "IoT Engineering Services Market by Service Type (Product Engineering, Cloud & Platform Engineering, UI/UX Design, Analytics, Security, Maintenance Services), End User, Vertical (Industrial Manufacturing & Automotive), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market size is expected to grow from USD 9.87 Billion in 2017 to USD 29.53 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period.

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Browse 83 Market Data Tables and 28 Figures spread through 135 Pages and in-depth TOC on "IoT Engineering Services Market"

http://www.marketsandmarkets.com/Market-Reports/iot-engineering-services-market-81528640.html

Early buyers will receive 10% customization on this report 

The demand for IoT Engineering Services is said to be driven by the growing need for reduced system troubleshooting and enhanced operational efficiency, increasing requirement of risk mitigation to minimize the data loss, the increasing adoption of micro services, and the accelerating Social, Mobile, Analytics, and Cloud (SMAC) technologies. The IoT Engineering Services Market is expected to gain a major traction during the forecast period.

Download PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=81528640

Product engineering service type is expected to have the largest market share during the forecast period 

Product engineering services offer business values, such as reduction in product development expenditure and cycle times, standardization of design processes, improved product performance, reduced rework cycles, and advancements in the existing IoT infrastructure. The growing demand for enriching customer experience places emphasis on cutting-edge product engineering services, thereby leading to the growth of the market.

Healthcare vertical is expected to grow at the highest CAGR during the forecast period 

Connected devices enable healthcare organizations to streamline operations, business processes, and aid in real-time patient care, even from remote locations. According to the research findings, connected devices in the field of healthcare could lead to a savings of 15-20% in the health expenditure; thus, there is a large integration of IoT engineering services into healthcare organizations' functioning systems and infrastructure. IoT engineering services are applied in the key areas of the healthcare vertical. The key areas include recording devices, healing or therapeutic appliances, radiology apparatus, respiratory devices, in-vitro devices, and diagnostics and monitoring devices.

Asia Pacific (APAC) is expected to hold the largest market share in 2022 and estimated to grow at the highest CAGR during the forecast period 

APAC is expected to hold the largest market share in 2022 and estimated to grow at the fastest CAGR during the forecast period. The countries in this region are believed to be driving the market growth, owing to the increasing adoption of advanced technologies, steady economic growth, ongoing smart city initiatives, and fragmented competition among the players. The IoT service providers are looking at expanding the base of their services to most of the countries in the region, because of the improving infrastructure and other business strategic moves. The adoption of IoT engineering and testing services is said to be gaining traction in the region to transform the business operations. This region covers some of the potential countries, namely, China, Japan, South Korea, Indonesia, Thailand, Malaysia, and Singapore.

The major vendors providing IoT Engineering Services Market are Aricent (US), Wipro (India), Capgemini (France), IBM (US), TCS (India), Happiest Minds (India), Infosys (India), Cognizant (US), eInfochips (US), RapidValue (US), and Tech Mahindra (India).

Inquiry before Buying @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=81528640

Browse Related Reports 

Product Engineering Services Market by Service (Product & Component Design, Process Engineering, Maintenance Repair & Operation), Organization Size (SMEs, and Large Enterprise), Vertical, and Region - Global Forecast to 2021
http://www.marketsandmarkets.com/Market-Reports/product-engineering-services-market-227956689.html

Internet of Things (IoT) Testing Market by Testing Type (Functional, Performance, Network, Security, Compatibility, and Usability), Service Type (Professional and Managed), Application Type, and Region - Global Forecast to 2021
http://www.marketsandmarkets.com/Market-Reports/iot-testing-market-51412648.html

Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp

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 5000 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". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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