IoT Managed Services: Increasing Demand from the Manufacturing Sector

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. 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.

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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.

Research Report Highlights:
oMarket Dynamics
oMarket Scope
oMarket Trends And Outlook
oKey Opportunities
oCompetitive Landscape
oValue Chain Analysis
oRegional Framework
oMarket Segments And Sub-Segments

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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.

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.

The research provides answers to the following key questions:
What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
What are the key driving forces responsible for shaping the fate of the IoT Managed Services market during the forecast period?
Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the IoT Managed Services market?
What are the prominent market trends influencing the development of the IoT Managed Services market across different regions?
What are the major threats and challenges likely to act as a barrier in the growth of the IoT Managed Services market?
What are the major opportunities the market leaders can rely on to gain success and profitability?

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