IoT Managed Services Market Demand is Increasing Rapidly in Recent Years (2017-2025)

IoT Managed Services market: Introduction

To help manage energy costs and improve comfort and convenience, the customers are seen investing in IoT solutions. 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. Some of the IoT Managed Services are fleet tracking, operational efficiency and business model transformation in different industries, cloud based video surveillance, home control and automation, power monitoring and loss identification, healthcare and wellness services and city wide Government IoT capabilities.

IoT Managed Services market: Drivers and Challenges

Cost containment, demand for customer choice and improved interactions with existing DSM programs point toward the potential of IoT to help transform the relationship between utilities and their customers. IoT enables customers to manage their energy independent from their utility and will require a rethinking of current utility business models to capture market share in this broader demand management landscape.

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MSPs will be required to make substantial investments to support IoT devices as in many cases, to support a device, part of the code may need to be rewritten or modified which could include an IoT device's embedded operating system (OS), the drivers that enable it to communicate with a network, or the device's remote management software or in some cases, it could be a basic modification in terms of a change to values in a configuration file such as auto-starting a service on the OS which means that they may want to modify the firmware itself and recompile it to add support for additional protocols.

It totally depends and is on a case-by-case basis. This would lead the company to invest more on these problems solutions and the greatest challenge will be recruiting staff with the appropriate data analytics skills for the companies which are looking forward to advance in IoT Managed Services market.

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IoT Managed Services Market: Key Players

Some of the key players of IoT Managed Services Market include Cisco Systems, Inc., Google, Cognizant Technology Solutions Corporation, Prodea, Scalable Systems, HCL Technologies Limited, Harman International Industries, Inc., Infosys Limited, Virtusa Corporation, Tieto Corporation, Tata Consultancy Services Limited, Tech Mahindra Limited, and Wipro Limited.

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