“IoT Managed Services Market Growth Potentially Worth USD 135 Billion by 2027”

The global IoT Managed Services Market by geography is segmented into five region including North America, Europe, Asia Pacific, Middle East & Africa and South America. Asia Pacific is expected to account for the largest share of the global IoT managed services market in 2018, followed by Europe. Germany and UK being two key countries in Europe region which will dominate in IoT managed services market in this region and is also expected to continue its dominance throughout the forecast period from 2019 to 2027.

The key companies operating in IoT managed services market across the globe include Cisco Systems Inc., Cognizant, Google Inc., Harman International, HCL Technologies Limited, IBM Corporation, Infosys Limited, Microsoft, Tata Consultancy Services Limited, and Wipro Limited among various other leading market players. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year. 

The “IoT Managed Services market to 2027 by services (Device Management Services, Data Management Services, Network Management Services, and Security Management Services); by End-Use (Government, Manufacturing, Transportation & Logistics, Energy & Utilities, Smart Building & Home, IT & Telecom, Healthcare, BFSI, and Retail); – Global Analysis and Forecast” The scope of study involves understanding on the factors responsible for this growth of IoT managed services market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant IoT managed services providers in the market and their key developments.

IoT managed service providers are strategically adopting multi-cloud. Many IoT solutions need to be hosted on-premise due to factors such as performance, security, and reliability. Moreover, IoT solutions that are deployed in different regions might require different public cloud providers. For instance, the IoT solution deployed in Europe, North America, and Asia might need local cloud providers for data privacy regulations. The multi-cloud strategy enables managed service providers to be more responsive to its customers and requirements.

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IoT Managed Services Market to 2027 – Global Analysis and Forecast by Service and End-Use, IoT managed services market is expected to grow US$ 135.0 billion by 2027 from US$ 30.2 billion in 2018. The global IoT Managed Services market is witnessing a high growth due to the factors such as increasing adoption of IoT across the industry, penetrating smartphones, increasing cyber-attacks, and others. The Asia Pacific region is holding the prominent market share of global IoT managed services market and are expected to witness high Y-o-Y growth during the forecast period. This growth is attributed to the increasing industrialization in developing countries such as China and India. The rapid urbanization in countries such as Brazil, South Africa, and others are expected to create a significant demand for IoT managed services during the forecast period.

The continuous improvement in Cloud technology and increasing government investments in telecommunication is one of the prominent factor the surging demand for IoT and IoT services. Moreover, the government projects such as smart cities is a key driver for IoT managed services market and are expected to have a positive impact on the growth of global IoT managed services market. The increasing cyber-attacks and the rising concern for the data and device protection are creating a huge demand for security management services. Vendors are highly focused on offering end-to-end device security and management services to its customers. Vendors are also focusing on multiple partnerships to strengthen its services portfolio and to expand its business in emerging markets. The market for IoT managed services market is expected to witness numerous mergers and acquisitions among leading vendors to upgrade its service offerings during the forecast period.

The increasing adoption of connected devices and rapid roll-out of the 4G/5G network is significantly driving the global IoT managed services market

The IoT managed services is witnessing a huge adoption across the industries during the forecast period. Various service providers operating in the market are focused on offering IoT managed services with advanced technology and competitive price. Further, the increasing adoption of cloud technology is enabling service providers to offer cloud-based services to their customers. IoT managed services market is witnessing multiple partnerships, mergers, and acquisitions among the players for the development of upgraded managed services.

The key players are making significant investments in the research and developments to offer advanced services to its customers. For instance, In September 2018, BSNL entered into the partnership with Unlimit for IoT services in India. This partnership will provide enhanced managed service for device management and advanced analytics for industries such as transportation, automotive, manufacturing, agriculture, public sector enterprise, and others. In September 2018, Qualcomm opened a center in Brazil for the development of IoT solutions. The center will focus on projects such as smart cities and other IoT based public sector projects. Qualcomm also entered into the partnership with Logicalis, an IT services firm to develop IoT solutions and services for Brazilian clients.

IoT managed services market by services is segmented into Device Management Services, Data Management Services, Network Management Services, and Security Management Services. The security management services are expected to witness a high Y-o-Y growth during the forecast period due to the increasing cybersecurity attacks.

The overall IoT managed services market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the IoT managed services market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the ICT sector.

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Many global and regional players are present in the market to offer diversified managed services to its customers. The partnership and acquisition remain the key strategy to enhance the service portfolio and to expand the footprints in different geographies. Few of the market related key developments are mentioned below-

The IoT managed services market has gained substantial traction in the past few years owing to the growing number of connected devices. Moreover, the government projects such as smart cities, connected airports, metros, and others have a significant positive impact on the growth of global IoT managed services market. The developing countries of Asia-Pacific are one of the most attractive markets for IoT managed services. The huge investments by governments of China and India for the development of advanced telecommunication infrastructure are significantly driving the IoT managed services market in the Asia Pacific region.

Some of the remarkable partnership and collaboration in this market are, in 2018, Microsoft collaborated with Telefonica, a leading provider of IoT solution and services to facilitate IoT device integration with Microsoft Azure. This collaboration will facilitate device integration enhancing connectivity data exploitation, integrated diagnosis capabilities, and analytics; Cisco entered into partnership with Telenor, Norway, the largest provider of mobile and network services in Norway, to launch, manage, and monetize IoT services through Cisco Jasper.

The report segments the global IoT managed services market as follows:

1.1.1 Global IoT Managed Services  Market – By Services

•    Device Management Services
•    Data Management Services
•    Network Management Services
•    Security Management Services

1.1.2 Global IoT Managed Services Market – By End-Use

•    Government
•    Manufacturing
•    Transportation & Logistics
•    Energy & Utilities
•    Smart Building & Home
•    IT & Telecom
•    Healthcare
•    BFSI
•    Retail

1.1.3 Global IoT Managed Services Market – By Geography

•    North America
o    U.S.
o    Canada
o    Mexico

•    Europe
o    France
o    Germany
o    Italy
o    Spain
o    UK
o    Rest of Europe

•    Asia Pacific (APAC)
o    Australia
o    China
o    India
o    Japan
o    Rest of Asia Pacific

•    Middle East and Africa (MEA)
o    Saudi Arabia
o    UAE
o    South Africa
o    Rest of MEA

•    South America
o    Brazil
o    Rest of South America (SAM)
 

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1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global IoT Managed Services market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the IoT Managed Services market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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