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IoT Connectivity Market Is Poised To Grow At A CAGR of 18.7% to 2024: Exclusive Report by MarketsandMarkets™ IoT Connectivity Market According to a research report "IoT Connectivity Market by Component (Platform, Services), Organization Size, Application Areas (Building &Home Automation, Smart Energy & Utility, Smart Manufacturing, Connected Health, Smart Retail, Smart Transportation), Region - Global Forecast to 2024", MarketsandMarkets expects the IoT Connectivity market to grow from USD 3.8 billion in 2019 to USD 8.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.7% during the forecast period. Major factors expected to drive the growth of the IoT connectivity market include an increase in demand for connected devices; the need for reliable, secure, and high-speed network connectivity; and ability to integrate the standalone and non-standalone components of IoT ecosystem. Browse 53 market data Tables and 31 Figures spread through 119 Pages and in-depth TOC on "IoT Connectivity Market by Component (Platform, Services), Organization Size, Application Areas (Building &Home Automation, Smart Energy & Utility, Smart Manufacturing, Connected Health, Smart Retail, Smart Transportation), Region - Global Forecast to 2024" Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=94811752 Based on component, services segment to record a higher growth rate than the platform segment during the forecast period Base on the component, the services segment is expected to grow at a higher rate than the platform segment during the forecast period. The services segment has a significant influence on the IoT connectivity market growth. The demand for services is increasing with the growing adoption of IoT connectivity by enterprises across major application areas. These services assist end-users in reducing costs, increasing overall revenues, and improving business performance. With the help of these services, organizations can connect their edge devices effectively. Among services, managed services segment to register a higher growth rate than the professional services segment during the forecast period Among services, the managed services segment is expected to witness a higher growth rate than the professional services segment during the forecast period. Managed services help clients manage their IoT connectivity operations from consultancy to deployment and maintenance. The prime responsibility of the managed services providers is to improve the efficiency of inbound and outbound operations cost-effectively for enterprises. North America to account for the largest market size during the forecast period