IoT Managed Services Market 2027 Future Trends and Global Players Cisco Systems Inc., Cognizant, Google Inc., Harman International, HCL Technologies Limited

The "IoT Managed Services market to 2027 by services (Device Management Services, Data Management Services, Network Management Services, and Security Management Services); by End-Use (Government, Manufacturing, Transportation & Logistics, Energy & Utilities, Smart Building & Home, IT & Telecom, Healthcare, BFSI, and Retail); - Global Analysis and Forecast" The scope of study involves understanding on the factors responsible for this growth of IoT managed services market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant IoT managed services providers in the market and their key developments.

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IoT Managed Services Market to 2027 - Global Analysis and Forecast by Service and End-Use, IoT managed services market is expected to grow US$ 135.0 billion by 2027 from US$ 30.2 billion in 2018. The global IoT Managed Services market is witnessing a high growth due to the factors such as increasing adoption of IoT across the industry, penetrating smartphones, increasing cyber-attacks, and others. The Asia Pacific region is holding the prominent market share of global IoT managed services market and are expected to witness high Y-o-Y growth during the forecast period. This growth is attributed to the increasing industrialization in developing countries such as China and India.

Some of the key companies operating in IoT managed services market across the globe include Cisco Systems Inc., Cognizant, Google Inc., Harman International, HCL Technologies Limited, IBM Corporation, Infosys Limited, Microsoft, Tata Consultancy Services Limited, and Wipro Limited among various other leading market players. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.

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The rapid urbanization in countries such as Brazil, South Africa, and others are expected to create a significant demand for IoT managed services during the forecast period. The continuous improvement in Cloud technology and increasing government investments in telecommunication is one of the prominent factor the surging demand for IoT and IoT services. Moreover, the government projects such as smart cities is a key driver for IoT managed services market and are expected to have a positive impact on the growth of global IoT managed services market.

The increasing cyber-attacks and the rising concern for the data and device protection are creating a huge demand for security management services. Vendors are highly focused on offering end-to-end device security and management services to its customers. Vendors are also focusing on multiple partnerships to strengthen its services portfolio and to expand its business in emerging markets. The market for IoT managed services market is expected to witness numerous mergers and acquisitions among leading vendors to upgrade its service offerings during the forecast period.

Some of the remarkable partnership and collaboration in this market are, in 2018, Microsoft collaborated with Telefonica, a leading provider of IoT solution and services to facilitate IoT device integration with Microsoft Azure. This collaboration will facilitate device integration enhancing connectivity data exploitation, integrated diagnosis capabilities, and analytics; Cisco entered into partnership with Telenor, Norway, the largest provider of mobile and network services in Norway, to launch, manage, and monetize IoT services through Cisco Jasper.

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The global IoT managed services market by geography is segmented into five region including North America, Europe, Asia Pacific, Middle East & Africa and South America. Asia Pacific is expected to account for the largest share of the global IoT managed services market in 2018, followed by Europe. Germany and UK being two key countries in Europe region which will dominate in IoT managed services market in this region and is also expected to continue its dominance throughout the forecast period from 2019 to 2027.

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oThe key findings and recommendations highlight crucial progressive industry trends in the IoT Managed Services market, thereby allowing players across the value chain to develop effective long term strategies
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oScrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
oEnhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client offering, segmentation, pricing and distribution
oExamine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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