Managed IoT Services Market 2022 | Size, Growth, Demand, Opportunities and Forecast 2030 | Atos SE, Aricent Inc., Infosys Limited, IBM Corporation

The Global Managed IoT Services Market size is estimated to be USD 47.01 billion in 2019 and is predicted to reach USD 780.51 billion by 2030 with a CAGR of 29.1% from 2020-2030.

IoT is internet of things which is an interconnected network of objects which are able to control process and exchange data 24*7 with the help of embedded sensors. It provides addition intelligence to the existing devices and IoT has wide application in almost every industry which helps in the cost cutting and also increases operational efficiency of the enterprises.

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Top Companies: Atos SE, Aricent Inc., Infosys Limited, IBM Corporation, Larsen & Toubro Infotech, Tata Consultancy Services Limited (TCS), Capgemini SE, Tech Mahindra Limited and others.

Market Dynamics and Trends

There have been various technological advancements taking place in the market coupled with increased adoption of cloud services and increased demand of developed infrastructure. Furthermore, wide application in different industries and increased demand of operation efficiency are expected accelerate the growth of Manages IoT services market in the near future.

The additional factors include increased demand of cost reduction and increased demand of error free work and increased demand of high performance work without errors coupled with increase in smart cities are further expected to fuel the market growth. However, lack of managed service provider and lack of flexibility in their services are expected to inhibit the market growth. On the other hand, increased penetration of connected devices with increasing revenue for the service provider from IoT services are further expected create ample opportunities in the managed IoT services market over the forecast period.

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Market Segmentations and Scope of the Study:

The global managed IoT services market share is analyzed on the basis of service type, application, end user and geography. On the basis of service type, the market is segmented into Infrastructure management services, Security management services, Network management services, Data management services, and Device management services. On the basis of application, the market is divided into Smart manufacturing, Smart metal, IT & telecom, Smart transportation, Smart energy & utilities, Smart buildings, and others. On the basis of end users, the market is fragmented into Energy and Utilities, Manufacturing, Agriculture, Healthcare, BFSI, Retail, Government & Defense, and Other. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America in anticipated to hold the major market share with increased adoption of IoT services on a large scale. Furthermore, increased demand of developed infrastructure coupled with various technological advancement is further expected accelerate the growth of managed IoT services market.

Asia Pacific is expected to show rapid growth with gradual increase in market share owing to the increased awareness coupled with increase in managed service provider with fast developing IT infrastructure. Moreover, increased demand of operational efficiency coupled with increase in smart cities are further expected to promote the market growth.

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