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 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 the IoT ecosystem. Among services, the managed services segment is expected to witness a higher growth rate than the professional services segment during the forecast period.
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