Global Internet of Things (IoT) Managed Services Market: Competitive Landscape Analysis, Industry Trends, Key Regions Development Status, Top Companies Profile Like Cisco, Cognizant, Happiest Minds and Forecast To 2024
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.
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The “Global Internet of Things (IoT) Managed Services Market” Report offers an inclusive and decision-making overview, including definitions, classifications and its applications. The Global Internet of Things (IoT) Managed Services Market is anticipated to reflect a positive Growth Trends in forthcoming years. The essential driving forces behind the growth and popularity of Global Internet of Things (IoT) Managed Services Market is analyzed detailed in this report.
On the basis of service type:- Infrastructure management services, security management services, network management services, data management services, and device management services.
On the basis of vertical:- Smart manufacturing, smart retail, IT and telecom, smart transportation, smart energy and utilities, smart buildings, and others.
On the basis of geography:- North America, South America, Europe, Asia-Pacific, and Middle East & Africa.
TOP Key Players :
• Happiest Minds,
• HARMAN International,
• HCL Technologies Limited,
• Infosys Limited,
• Tata Consultancy Services Limited,
• Tech Mahindra Limited,
• Virtusa Corporation,
• Wipro Limited.
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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
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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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