Internet of Things (IoT) Managed Services Market is predicted to reach a market value of US$ 94,388.0 Mn with at a CAGR of 20.3% by 2026

Internet of Things (IoT) Managed Services Market 2022

The global Internet of Things (IoT) Managed Services Market to poised to grow atrociously in the subsequent decade. Artificial Intelligence is expected to have an indelible impact on the day-to-day functionalities. It has already made a beeline to speech and image recognition, smartphone personal assistants, navigation apps, ride-sharing apps, and likewise. This would also help in generating greater employment opportunities. This would be the scene with ICT vertical in the forecast period.

The global Internet of Things (IoT) Managed Services market is expected to grow from US$ 21,483.5 Mn in 2018 to US$ 94,388.0 Mn by 2026, at a CAGR of 20.3% in terms of revenue during the forecast period (2018-2026). In this report, the global Internet of Things (IoT) Managed Services market is tracked in terms of value, and is calibrated to obtain the market revenue estimates of Internet of Things (IoT) Managed Services.

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IoT is a 24*7 network of interconnected objects that are able to collect and exchange data using embedded sensors and mobile devices, among others. A connected device can become "smart" by combining sensors, networks, applications, etc., which come together to create added intelligence.
The applications of IoT can be found in several industries today, such as manufacturing, healthcare, transport & logistics, government, retail, and energy & utility, among others. Managed service is the practice of outsourcing a dedicated team to handle defined responsibilities to cut down the cost and manage operations effectively.

The Internet of Things (IoT) Managed Services market is highly dependent upon the adoption of IoT among industries. The Internet of Things (IoT) Managed Services market is divided into five segments on the basis of services: security management services, network management services, infrastructure management services, device management services, and data management services. The factors driving the global Internet of Things (IoT) Managed Services market are the adoption of IoT across the industry, increase in the availability of managed cloud services, and increase in government investments in projects such as smart cities, among others.

 Key Players:

The report has profiled some of the Important players prevalent in the global like - Cognizant Technology Solutions Corporation, Tech Mahindra, Cisco Systems Inc., Oracle, IBM Corporation, HCL Technologies Limited, Microsoft Corporation, Honeywell International Inc., and Google LLC and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Internet of Things (IoT) Managed Services.               

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However, high cost of infrastructure & services, data security & privacy, and interoperability of connected devices are some of the major challenges that hamper the growth of the Internet of Things (IoT) Managed Services market.

To understand and assess the demand and opportunities in this market, the Internet of Things (IoT) Managed Services market report is categorically split into three major sections: by services type, by industry type, and by region.

On the basis of services, the Internet of Things (IoT) Managed Services market is segmented into security management services, network management services, infrastructure management services, device management services, and data management services. The IoT network managed services segment is expected to dominate the market throughout the forecast period and enjoy a market share of 27.1% and 29.5% in 2018 and 2026 respectively.

On the basis of industry type, the Internet of Things (IoT) Managed Services market is segmented into manufacturing, automotive, healthcare, retail, IT & telecom, and others. The manufacturing segment of the Internet of Things (IoT) Managed Services market is expected to dominate the market for the longest duration in the forecast period owing to the high CAGR associated with it. The manufacturing Internet of Things (IoT) Managed Services segment is expected to grow from US$ 958.6 Mn in 2018 to US$ 22,996.5 in 2026.

The section Internet of Things (IoT) Managed Services market analysis by region includes an in-depth country-level analysis of all global regions, namely North America, Latin America, Europe, SEA & Others in Asia Pacific, Japan, China, and MEA, by services type, by industry type, & by country, and provides market data in terms of value for 2018-2026. In 2017, the market in North America dominated the overall global Internet of Things (IoT) Managed Services market, while the fastest-growing region in the Internet of Things (IoT) Managed Services market is SEA & Other APAC (given Asia Pacific is considered separately as three regions, i.e. China, Japan, SEA, and Others of APAC). North America is also expected to hold a majority of the market share of the Internet of Things (IoT) Managed Services market in 2026.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders
Internet of Things (IoT) Managed Services Market Manufacturers
Internet of Things (IoT) Managed Services Market Distributors/Traders/Wholesalers
Internet of Things (IoT) Managed Services Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?

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