The internet of things (IoT) is a system of interrelated computing devices, virtual machines, peoples or objects that are provided with unique identifiers. IoT application development services can be utilized for developing IoT apps for different industries such as automobile, telecommunication, aerospace and defense, energy and utilities, manufacturing, and among others. In automotive sector, IoT application development services are used for fleet management & vehicle monitoring, connected vehicles, vehicle tracking, safe driver & no-texting services, and remote vehicle diagnostics.
IoT application development services are helpful for building scalable IoT platforms & making connected devices smarter. Hence, various organization are adopting IoT application development services for enhanced efficiency, flexibility, customer satisfaction, and transparency in their facilities, to effortlessly manage the widespread systems of connected devices.
Impact of COVID-19 Pandemic Outbreak on IoT Application Development Services Market
The COVID-19 pandemic outbreak has disrupted many markets, including IoT application development services market. According to market analysis, COVID-19 is going to affect the halted projects due to low profitability, and organization are showing a slow adoption of IoT application development services.
Hence, IoT application development services market would decline by 2.5% growth in 2020 as compared to the year 2019. It is also estimated that the IoT application development services market will grow at an annual rate of 15% post COVID-19 period. Such technologies like artificial intelligence, extended reality, data analytics and Internet of Things (IoT) are helping companies and governments to solve unique challenges posed by COVID-19.
IoT Application Development Services Market: Drivers and Challenges
The major factor which is driving the IoT application development services market is the increasing demand for cost- efficient business operation, throughout the world. Also, the trends driving the IoT application development services market are data analysis of connected devices, application development and automation.
The IoT application development services offers different features such as reduce costs, increased efficiency, flexibility, and increase business productivity. Such features are creating potential growth opportunities for the IoT application development services market, during the forecast period.
The lack of interoperability standards among connected devices, handling the mass information deluge, and data security issues, are such factors challenging the adoption of IoT application development services in the market.
IoT Application Development Services Market: Competition Landscape
Some of the prominent players providing IoT application development services are
- Hidden Brains Infotech
- Dot Com Infoway
- SAP SE
These vendors are offering wide range of services to their end customers to fulfil their specific IoT application development requirements.
IoT Application Development Services Market: Regional overview
By geography, the IoT application development services market has been segmented into North America, Europe, Latin America, East Asia, South Asia & Pacific, and Middle East & Africa. Among these regions, North America is expected to dominate the global IoT application development services market due to early adoption of digital technologies in the US. Moreover, economies like India, China, Japan, Singapore, Indonesia and others would offer high growth opportunities for the market to grow in the Asia Pacific region.
The IoT application development services market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The IoT application development services market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- IoT Application Development Services Market Segments
- IoT Application Development Services Market Dynamics
- IoT Application Development Services Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Technology Landscape
- Value Chain of the Market
- IoT Application Development Services Market Drivers and Restraints
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
- East Asia (China, South Korea, Japan)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)
- Detailed overview of parent IoT application development services market
- Changing IoT application development services market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected IoT application development services market size in terms of value
- Recent industry trends and developments
- Competitive landscape of IoT application development services market
- Strategies of key players and solution offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
IoT Application Development Services Market: Segmentation
The IoT application development services market has been segmented on the basis of solution, enterprise size, verticals and region.
- Application Development
- Software Testing and Quality Assurance
- Implementation Rollout
- Application Support & Maintenance
Enterprise size :
- Large Enterprises
- Rack mount
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