IoT Services Market 2023 : Trends, Business Growth And Major Driving Factors | Cisco Systems; Cognizant; Google; Infosys; Tieto Corporation; Virtusa Corporation; Accenture PLC; IBM

The Business Research Company’s IoT Services Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The IoT Services Global Market Report 2023 evaluates IoT services market size, growth rate, drivers, trends, and major companies.

The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The global iot services market size will grow from $188.8 billion in 2022 to $214.47 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iot services market size is expected to grow to $400.78 billion in 2027 at a CAGR of 16.9%.

The IoT services market segments in the report are:

IoT Services Market By Type:

Professional Services

Managed Services

IoT Services Market By Vertical:

Manufacturing, Retail

IT & Telecom

Transportation & Logistics


Top Key Players

  • Cisco Systems
  • Cognizant
  • Google
  • Infosys
  • Tieto Corporation

Asia-Pacific was the largest region in the internet of things (IoT) services market in 2022.

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The table of contents in TBRC’s IoT services market report includes:

  1. Executive Summary
  2. IoT Services Market Characteristics
  3. IoT Services Market Trends And Strategies
  4. IoT Services Market – Macro Economic Scenario
  5. IoT Services Market Size And Growth.


  1. IoT Services Market Competitive Landscape And Company Profiles
  2. Key Mergers And Acquisitions In The IoT Services Market
  3. IoT Services Market Future Outlook and Potential Analysis
  4. Appendix

List Of Tables

Table 1: Global Historic Market Growth, 2017-2022, $ Billion

Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion

Table 3: Global IoT Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Table 4: Global IoT Services Market, Segmentation By Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Table 5: Global IoT Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion


Table 27: Cisco Systems Financial Performance

Table 28: Cognizant Financial Performance

Table 29: Google Financial Performance

Table 30: Infosys Financial Performance

Table 31: Tieto Corporation Financial Performance

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