According to TechSci Research report, India IoT Professional Services Market Size, Share, Trends, Opportunity, and Forecast. 2018–2028, the IoT Professional Services market is expected to register a robust growth during the forecast period, 2024-2028. IoT professional services encompass a range of offerings including consulting, system integration, deployment and support, and maintenance services. These services assist organizations in conceptualizing, developing, and implementing IoT solutions aimed at capturing, analyzing, and utilizing data to enhance business processes and innovate new revenue streams.
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The growth of the IoT professional services market in India is driven by several key factors. Firstly, there is a rising adoption of IoT technologies across diverse industry verticals. Secondly, India benefits from a pool of skilled IoT professionals who contribute to the sector's expansion. Thirdly, government initiatives promoting digitalization and smart city development further stimulate market growth.
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India's software industry, renowned for its global success, has bolstered the country's economy with a workforce exceeding four million. Indian IT & ITeS companies operate over 1,000 global delivery centers across 80 countries, underscoring the increasing significance of service provisioning for IoT devices.
Additionally, advancements in wireless technology and the broader availability of internet connectivity contribute significantly to the market's expansion. The agricultural sector's adoption of smart farming practices has amplified the demand for cloud-based service management platforms. Furthermore, enterprises undertaking extensive digital transformation initiatives rely on professional IoT services to efficiently plan, design, and implement IoT systems. This comprehensive support spans all stages of IoT deployment, thereby propelling growth within the India IoT professional services market.
India IoT professional services market is segmented based on service type, organization size, deployment type, and end-use industry. Based on service type, the market is segmented into IoT consulting service, IoT infrastructure service, system designing & integration service, support & maintenance service, and education & training service. The growth of smart manufacturing operations has directly influenced the demand for IoT consulting services as manufacturing plants hop into the drive toward digital transformation. The return on investment of leveraging consulting services is built on the financial savings enabled by IoT. Professional services help companies streamline device logistics including authentication, configuration, provisioning, and management. Customer preference for deployment services is based on end-to-end solutions, along with easy access and distribution channels. Companies such as AT&T provide end-to-end certified deployment services in over 150 countries and territories, including device authentication, configuration (Firmware Over the Air (FOTA)/Software of the Air (SOTA)). These advancements by the market players are driving the growth in the India IoT professional services market.
System design and integration services provide a full range of IoT ecosystem designs, facilitate enterprise integration of IoT solutions, and sustain operating systems and business projects. System design service providers plan complete IoT systems to reduce business complexity and improve organizational profitability.
Based on deployment type, the market is bifurcated into cloud and on-premises. The cloud deployment type segment is projected to register the highest CAGR during the forecast period. Professional services portfolio is created to reduce the complexity of IoT systems. With the proliferation of connected devices allowing enterprises to focus on their core business, there is a growing demand for managed services. A key benefit of professional services is the know-how available to the customer.
Key market players in the IoT Professional Services market:
- Infosys Technologies Limited
- Tata Consultancy Services Limited
- Wipro Technologies
- HCL Technologies
- Redington (India) Ltd
- Tech Mahindra
- L&T Infotech
- Mphasis Ltd
- Mindtree Ltd
- Oracle Financial Services Software Ltd (OFSSL)
Convergence Acceleration Solutions, LLC, a U.S.-based consulting, and program management firm that specializes in accelerating significant business and technological transformation, has been acquired by Wipro Limited, a leading global provider of information technology, consulting, and business process services.
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“The demand for IoT professional services is anticipated to grow during the forecast period owing to rising investments in India. As the region is home to major telecom industry players such as Infosys Technologies Limited and Tata Consultancy Services Limited which continually invest in evolving their infrastructure to keep up with technological advances. This is expected to drive the adoption of professional IoT services during the forecast period. Moreover, fast and secure 5G connectivity is expected to accelerate the adoption of IoT devices, enabling agile operations and flexible production. This technology aims to facilitate automated assembly, warehousing, connected logistics, packaging, product handling, and autonomous carts. Additionally, the IoT and digital solutions visibility in the industry is significantly higher in India.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research-based India management consulting firm.
“IoT professional services Market Segmented By Service Type (IoT Consulting Service, IoT Infrastructure Service, System Designing & Integration Service, Support & Maintenance Service, and Education & Training Service), By Organization Size (SMEs, Large Enterprises), By Deployment Type (Cloud, On-premises), By End Use Industry (IT & Telecom, Retail, Manufacturing, Healthcare, BFSI and Others), By Region and Competition has evaluated the future growth potential of India IoT professional services market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in IoT professional services market.
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