IoT Services Show Significant Opportunity for Service Providers

In a newly published study, that is the first of its kind, IDC reveals Internet of Things (IoT) opportunities for service providers of all types across every global region.

Key findings showed that the Americas region represented 52.2% of the worldwide IoT services market opportunity in 2016. The EMEA region represented 34.4% of the worldwide IoT services market opportunity in 2016. Asia/Pacific (including Japan) region represented 13.4% of the total IoT services market opportunity in 2016.

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. 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, Worldwide Services. The forecast was co-authored by Segal and Curtis Price, vice president, Infrastructure Services.

The study, Worldwide Internet of Things Services Forecast, 2017-2021, details the 2017-2021 market sizing 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 exciting opportunity. The study provides IoT services spending forecasts by region and markets.