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Rapid Growth In IoT Managed Services Fueled By Automotive, Electronics, And Telecom Industries Driver: A Major Catalyst in the Evolution of the IoT Managed Services Market in 2025
Rapid Growth In IoT Managed Services
The escalation in the employment of IoT managed services solutions within automotive, electronic commodities, and the information and telecommunication sectors is expected to stimulate the expansion of the IoT managed services market. Advancements in various areas and ongoing long-term evolution (LTE) deployment are major catalysts for this growth. In industries such as automotive, consumer electronics, and telecommunications, IoT-managed services are extensively applied. For instance, a report by the Health Sector Cybersecurity Coordination Center (HC3), a US-based segment of the HHS' Cybersecurity Program, revealed in August 2022 that around 7 billion devices were interconnected through the Internet of Things (IoT) in 2022. Projections hint at a significant surge, with an additional 20 billion devices predicted to use this technology by 2025. Therefore, the proliferation of IoT managed services solutions usage in the automotive, electronic goods, and information and telecommunication industries will fuel the growth of the IoT managed services market.
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How will the growth rate of the iot managed services market shape industry trends by 2034?
In recent times, there has been substantial growth in the IoT managed services market size, escalating from $88.38 billion in 2024 to a projected $108.22 billion in 2025 at a compound annual growth rate (CAGR) of 22.4%. Factors such as the growing complexity of IoT ecosystems, an explosion in the number of IoT devices, requirements for scalable and secure connectivity, a surge in the demand for data analytics within IoT, and limited in-house capabilities for managing IoT are accountable for the historical growth.
Expectations are high that the market size for IoT managed services will witness a striking surge in the coming years. The market is predicted to inflate up to $263.01 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 24.9%. Such growth in the projected period can be ascribed to the broadening of 5g networks, increase in edge computing for IoT, focus on IoT security and privacy, surge of industry-specific IoT applications, and escalating demand for multi-cloud applications. In the forecast horizon, significant trends to watch for include the integration of artificial intelligence into IoT management, managed IoT platform-as-a-service (PaaS), anticipative maintenance and remote monitoring, sustainable and eco-friendly IoT practices, as well as the adoption of blockchain for IoT security.
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What trends are poised to drive the future success of the iot managed services market?
Firms prominently operating in the abrasives sector are embracing a strategic alliance strategy as a means to broaden their market reach. A strategic alliance entails businesses maximizing the advantages and resources of their partners for mutual gain and growth. For instance, in May 2023, the US-based IT infrastructure and services firm NTT Ltd. and fellow US technology firm Cisco Systems Inc. unveiled their collaborative efforts aimed at creating and launching joint solutions designed to elevate organizations' operational efficiency and progress sustainability objectives. The combined solutions crafted by NTT Ltd. and Cisco Systems integrate NTT's Edge as a Service offerings with Cisco's IoT capabilities. This collaborative effort aims to provide businesses with immediate access to data insights, bolstered security, enhanced decision-making, and reduced operational expenses by incorporating predictive maintenance, asset monitoring, and supply chain management capabilities.
Which primary segments of the iot managed services market are driving growth and industry transformations?
The IoT managed services market covered in this report is segmented -
1) By Service Type: Infrastructure Management Services, Security Management Services, Network Management Services, Data Management Services, Device Management Services
2) By End-Users: Automotive And Transport, Information Technology And Telecom, Healthcare, Banking, Financial Services, And Insurance (BFSI), Manufacturing, Other End-Users
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
Subsegments:
1) By Infrastructure Management Services: Cloud Infrastructure Management, On-Premises Infrastructure Management
2) By Security Management Services: Endpoint Security Management, Network Security Management, Data Security Management
3) By Network Management Services: Network Monitoring, Network Optimization, Network Configuration Management
4) By Data Management Services: Data Analytics, Data Storage And Backup, Data Integration
5) By Device Management Services: Device Provisioning, Device Monitoring, Firmware Management
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Which geographical regions are pioneering growth in the iot managed services market?
North America was the largest region in the IoT managed services market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT managed services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the iot managed services market landscape?
Major companies operating in the IoT managed services market include Cisco Systems Inc., International Business Machines Corporation, HCL Technologies Limited, HARMAN International Industries Incorporated, Cognizant Technology Solutions Corporation, AT&T Inc., Verizon Communications Inc., Vodafone Group Plc, T-Mobile US Inc., Ericsson AB, Orange Business Services, Deutsche Telekom AG, Sierra Wireless Inc., Telit Communications PLC, Aeris Communications Inc., KORE Wireless Group, Arm Ltd., PTC Inc., Microsoft Corporation, Amazon Web Services Inc., Siemens Aktiengesellschaft, Robert Bosch GmbH, Dell Technologies Inc., Hewlett Packard Enterprise Company, Oracle Corporation, Telstra Corporation Limited, Software Aktiengesellschaft, Wipro Limited, Fujitsu Limited, NTT Data Corporation
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What Is Covered In The IoT Managed Services Global Market Report?
•Market Size Forecast: Examine the iot managed services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the iot managed services market for a structured understanding.
•Key Players Overview: Analyze major players in the iot managed services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the iot managed services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the iot managed services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the iot managed services market.
•Industry Challenges: Identify potential risks and obstacles affecting the iot managed services market.
•Competitive Landscape: Review strategic developments in the iot managed services market, including expansions, agreements, and new product launches.
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