The Asia Pacific IoT Professional Services Market would witness market growth of 7.5% CAGR during the forecast period (2022-2028).
Companies employ specialized Application Programming Interface (API) and solutions for each IoT project. To share data or create an intelligent network, IoT-enabled devices must communicate using a common protocol and communication standard. In turn, this will promote IoT technology standardization and make it simpler for any service provider to supply the majority of solutions in a single package.
As a result, the most critical and frequently used linked devices have easy interoperability and information exchange. The best opportunity for market growth over the projection period is the rising need for IoT-enabled digital transformation of enterprises. IoT is a crucial technology for the digital revolution that enables businesses to become more operationally efficient.
Due to its performance features such as worldwide availability, Quality of Service, Power-saving operation, licensed frequency spectrum, Good building penetration, and Attractive cost of connectivity, LPWAN has become a necessary precondition for professional IoT solutions. Today's modern device networking technologies have finally overcome these drawbacks.
The demand for disruptive technologies such as IoT would be driven by the need for smart building and space solutions in highly populated areas. Much money is being invested in the internet of things solutions by the rapidly rising economies of China, Japan, South Korea, India, and Singapore. Additionally, to enhance safety and quality of life, the regulatory organizations of these nations are working very hard to build smart city projects. For instance, in October 2020, the Chinese municipal administration of Xiangtan secured a loan from the Asian Development Bank (ADB) totaling USD 200 million for its smart city plan.
The China market dominated the Asia Pacific IoT Professional Services Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $14,274.9 million by 2028. The Japan market is estimated to grow a CAGR of 6.8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 8.1% during (2022 - 2028).
Based on Type, the market is segmented into IoT Consulting, System Designing & Integration, Support & Maintenance, IoT Infrastructure, and Education & Training. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Type, the market is segmented into On-Premises and Cloud. Based on Application, the market is segmented into Smart Manufacturing, Smart Transport & Logistics, Smart Energy, Smart Healthcare, Smart Retail, and Smart Buildings. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide IoT Professional Services Market is Projected to reach USD 170.7 Billion by 2028, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, Cognizant Technology Solutions Corporation, IBM Corporation, Oracle Corporation, Tata Consultancy Services Ltd., NTT Data Corporation, Infosys Limited, Atos Group, Capgemini SE, and DXC Technology Company.
By Type
By Organization Size
By Deployment Type
By Application
By Country
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