The internet of things (IoT) is a network of interconnected computing equipment, virtual machines, people, and objects, all of which are given unique IDs. IoT application development services can be used to create IoT apps for a variety of industries, including automotive, telecommunications, aerospace and defense, energy and utilities, manufacturing, and so on. For fleet management and vehicle monitoring, connected vehicles, vehicle tracking, safe driver & no-texting services, and remote vehicle diagnostics, IoT application development services are employed in the automotive industry.
Building scalable IoT platforms and making linked devices smarter requires IoT application development services. As a result, a growing number of businesses are turning to IoT application development services to improve efficiency, flexibility, customer happiness, and transparency in their facilities, as well as to manage the growing number of connected devices.
The Effect of the COVID-19 Pandemic on the Market for IoT Application Development Services
Many markets, including the IoT application development services market, have been disrupted by the COVID-19 pandemic outbreak. According to market research, COVID-19 will have an impact on projects that have been terminated due to low profitability, and organizations are adopting IoT application development services slowly.
As a result, the market for IoT application development services would contract by 2.5 percent in 2020 compared to 2019. After COVID-19, it is expected that the market for IoT application development services will increase at a 15% annual pace. Artificial intelligence, augmented reality, data analytics, and the Internet of Things (IoT) are assisting businesses and governments in addressing the particular issues offered by COVID-19.
The market for IoT Application Development Services: A Competitive Analysis
The following are some of the most well-known companies that offer IoT application development services:
- Hidden Brains Infotech
- Dot Com Infoway
- SAP SE