IoT Managed Services Market Size Forecasted To Achieve $263.01 Billion By 2029 With Steady Growth

The IoT Managed Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the IoT Managed Services Market Size and Projected Growth Rate?
The market size for IoT managed services has seen an exponential surge in the past years. The market that stood at $88.38 billion in 2024 is expected to expand to $108.22 billion in 2025, marking an impressive compound annual growth rate (CAGR) of 22.4%. The historic period's growth is mainly due to the escalating complexity of IoT ecosystems, the rapid proliferation of IoT devices, the necessity for scalable and secure connectivity, the rising demand for data analytics in IoT, and the lack of in-house expertise for managing IoT.

Over the upcoming years, the market size for IoT managed services is projected to have an extraordinary expansion, reaching up to $263.01 billion by 2029 with a compound annual growth rate of 24.9%. Several factors contributing to this anticipated growth during the forecast period include the spread of 5G networks, the rise of edge computing in IoT, the focus on IoT security and privacy, an increase in industry-specific IoT applications, and the growing demand for multi-cloud applications. Key trends predicted for this period are the integration of artificial intelligence into IoT management, the growth of managed IoT platform-as-a-service (PaaS), the practice of predictive maintenance and remote monitoring, a move towards sustainable and green IoT practices, and the utilization of blockchain technology for enhancing IoT security.

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What Are the Major Segments in the IoT Managed Services Market?
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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What Are The Driving IoT Managed Services Market Evolution?
The escalating adoption of IoT managed services in sectors like automotive, electronic goods, and information and telecommunications is predicted to fuel the expansion of the IoT managed services market. The ongoing deployment of long-term evolution (LTE) and technological advancements in various sectors are the principal catalysts enhancing the use of IoT managed services. The wide use of these services in the automotive, consumer electronics, and telecom services sectors exemplifies this. For instance, the Health Sector Cybersecurity Coordination Center (HC3), an American subdivision of the Department of Health and Human Services' (HHS) Cybersecurity Program, reported in August 2022 that nearly 7 billion devices have been connected via IoT in 2022. They foresee significant growth, expecting 20 billion more devices to incorporate this technology by 2025. Hence, the rising application of IoT managed services solutions in the automotive, electronic goods, and information and telecommunications fields will steer the growth of the IoT managed services market.

Which Firms Dominate The IoT Managed Services Market Segments?
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, accenture* plc, Fujitsu Limited, NTT Data Corporation

What Trends Are Expected to Dominate the IoT Managed Services Market in the Next 5 Years?
Key players in the abrasive industry are utilizing strategic partnerships as a method for growing within the market. In a strategic partnership, companies use each other's strong points and resources to achieve mutual success. For example, NTT Ltd., a leading IT infrastructure and services firm based in the United States, teamed up with Cisco Systems Inc., a prominent American technology company, in May 2023. They aim to create and implement integrated solutions that enable organizations to boost their operational efficiencies and strive towards their sustainability objectives. These solutions, which include predictive maintenance, asset tracking, and supply chain management, will utilize NTT's Edge as a Service offering and Cisco's IoT capabilities. The benefits of this include real-time data insights, augmented security, enhanced decision-making, and decreased operational expenses.

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Which Is The Largest Region 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

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the IoT Managed Services Market?
2. What is the CAGR expected in the IoT Managed Services Market?
3. What Are the Key Innovations Transforming the IoT Managed Services Industry?
4. Which Region Is Leading the IoT Managed Services Market?

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