International Data Corporation (IDC) has issued a report stating that the Internet of Things (IoT) is generating significant opportunities for service providers of all types across every global region.
The Americas region represented 52.2% of the worldwide IoT services market opportunity in 2016. Meanwhile, the EMEA region represented 34.4%, and Asia/Pacific (including Japan) represented 13.4% of the same market during the same time period.
According to the Framingham, Massachusetts-based market researcher, project-based services represented the highest percentage of market opportunity in 2016, and will gain nearly one point of market share to 56.7% by 2021, approaching $30.8 billion. Furthermore, business consulting represents the fastest growing segment of the project-based services market.
“Service providers have a real opportunity in the IoT services market to show significant value to their customers by helping plan, implement, support, and operate IoT initiatives,” said Rebecca Segal, group vice president of worldwide services at IDC.
The study, “Worldwide Internet of Things Services Forecast, 2017-2021,” details the market sizing, spending forecasts and growth rates for the worldwide Internet of Things (IoT) services market as well as provides insights for services firms looking to capitalize on this opportunity.
IoT will open up new customers and new types of offerings for channel partners and other service providers who take a creative and vertical approach to growing their businesses.