IoT professional services market set to reach USD $56bn
New analysis from IoT Analytics outlines the most in-demand IoT system integration services that are shaping the strategies of system integrators and consulting firms.
The global IoT professional services market, which has grown by 46% over the last three years, reached an estimated value of USD $56 billion in 2024.
The market report identifies key players such as Accenture, Deloitte, Tata Consultancy Services, Infosys, and Capgemini, which collectively account for 20% of the market share.
As the IoT continues to advance and integrate with technologies like artificial intelligence (AI), integrators are shifting from isolated IoT integration services towards comprehensive project support and complete integrations. This trend, observed by IoT Analytics, indicates a growing need for more holistic solutions.
Knud Lasse Lueth, CEO at IoT Analytics, noted, "The IoT professional services market is valued at USD $56 billion in 2024 and we expect it to grow to $125 billion by 2030 as companies progress in IoT maturity. The demand for IoT services is shifting with fewer standalone IoT strategy projects and more end-to-end implementations. Integrators are also increasingly asked to help out with regulatory compliance, data management, and AI integration, among other things."
In addition to the projected market growth, Justina-Alexandra Sava, Market Analyst at IoT Analytics, highlighted the crucial role of data strategies in AI-driven IoT transformations.
She remarked, "AI-driven IoT transformation demands new data strategies, with enterprises leaning on system integrators to tackle both technology and operational levels. Making sure that integrators identify and provide in-demand services and align with the right partners will be key to sustaining growth in this dynamic market."
The insights from the IoT System Integration and Professional Services Market Report 2024–2030 reveal the increasing importance of these services to align with broader business objectives, especially as the industry continues to develop its capabilities and offerings to meet evolving enterprise needs.
