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The global IoT engineering services market grew from $25.24 billion in 2022 to $31.22 billion in 2023 at a compound annual growth rate (CAGR) of 23.7%. Major players in the market are Tata Consultancy Services, Infosys Limited, Cognizant, Happiest Minds Technologies Limited, Capgemini SE, Wipro Limited, Cisco Systems Inc., EPAM Systems Inc., Telefonaktiebolaget LM Ericsson, Luxoft Holding Inc., Arrow Electronics, KORE Wireless, NTT Data Corporation, Nitor Infotech and Coforge Limited. IoT engineering services refer to a set of design, development, and deployment of various IoT devices to assess business performance that helps to increase the business functions.