Press release
Internet of Things (IoT) Managed Services Market : Watch Out Latest Trends Globally
The Global Internet of Things (IoT) Managed Services Market accounted for USD 22.23 billion in 2016 growing at a CAGR of 30.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Internet of Things (IoT) Managed Services Market
IoT provides the opportunity for managed services to improve their service interactions, gain more information about the users and their behaviors related to specific devices and services, and ultimately provide better support, maximize operational efficiency and reduce operational overhead. IoT is an excellent platform for companies of all sizes. It has its wide application in smart manufacturing, smart retail, IT and telecom, smart transportation, smart energy and utilities, smart buildings. Increasing momentum of managed cloud services may act as the major driver in the growth of IoT managed services market. On the other side, inability of MSPs to come up with IoT complexities may hamper the market.
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Major Market Drivers & Restraints:
Increasing momentum of managed cloud services
Declining profits from service revenues shifting the focus to MSPs
Growing inclination toward cost-efficient managed services
Inability of MSPs to cope up with IoT complexities
MSPs in IoT space lack scalability and flexibility in their service offerings
Market Segmentation: Global Internet of Things (IoT) Managed Services Market
The global internet of things (IoT) managed services market is segmented on the basis of service type into infrastructure management services, security management services, network management services, data management services, and device management services.
On the basis of vertical, the global internet of things (IoT) managed services market is segmented into smart manufacturing, smart retail, IT and telecom, smart transportation, smart energy and utilities, smart buildings, and others.
On the basis of geography, the global internet of things (IoT) managed services market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Company Share Analysis: Global Internet of Things (IoT) Managed Services Market
The report for internet of things (IoT) managed services market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.
Major Market Competitors: Global Internet of Things (IoT) Managed Services Market
Some of the major players of the global internet of things (IoT) managed services market are Cisco, Cognizant, Happiest Minds, HARMAN International, HCL Technologies Limited, Infosys Limited, Tata Consultancy Services Limited, Tech Mahindra Limited, Tieto, Virtusa Corporation, Wipro Limited, and others.
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Research Methodology: Global Internet of Things (IoT) Managed Services Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst call or can drop down your inquiry.
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