IoT Managed Services Global Market - Overview
The global IoT managed services market is showing immense growth; mainly due to the increase in demand for connected devices in automotive, healthcare, retail and transportation sector. Increasing momentum of managed cloud services and declining profits from service revenues shifting the focus towards managed service providers are major factors driving the growth of IoT managed services market. Growing inclination towards cost efficient managed services is further fuelling the growth of IoT managed services market.
Technological advancements have played a major role in the development of IoT managed services. Steep increase in the adoption of IoT managed services across various industry verticals is one major factor driving the growth of Iot Managed Services Market. Cisco Systems Inc., Google Inc., Apple Inc., Intel Corporation, Microsoft Corporation, HPE, and IBM among others are the major investors in the IoT managed services market.
Based on application, smart transportation sub segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing integration of advanced technologies into the existing infrastructure in the transportation sector. Increasing need for managing analytics, security devices and sensors is one major factor driving the market of IoT managed services in the transportation sector. According to a recent study report published by Market Research Future, the global market of IoT managed services is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).
However, inability of managed service providers to cope up with IoT complexities and lack of scalability and flexibility in their service offering are major factors which could cause hindrance in the growth of IoT managed services market.
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Key Players:
The prominent players in the market of IoT Managed Services market are –Accenture Plc. (Ireland), Cisco System Inc. (U.S), Google Inc. (U.S), Apple Inc. (U.S), AT & T Inc. (U.S), Intel Corporation (U.S), Microsoft Corporation (U.S), HP Inc. - (U.S), - International Business Machines Corporation (IBM) (U.S), Qualcomm Inc. (U.S) and among others
IoT Managed Services Global Market - Segmentation
The IoT managed services market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
- Segmentation by Service Type: Comprises of Infrastructure Management Services, Security Management Services, Network Management Services, Data Management Services and Device Management Services
- Segmentation by Organization Size: Comprises Of SMEs and Large Enterprises
- Segmentation by Application: Comprises Of Smart Manufacturing, Smart Retail, IT & Telecommunication, Smart Transportation, Smart Energy & Utilities, Smart Buildings and Others
- Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
IoT Managed Services Global Market - Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the IoT managed services market in North America owing to the presence of a large number of established key players such as Cisco Systems Inc., Google Inc., Apple Inc., Intel Corporation, Microsoft Corporation, HPE, IBM and Qualcomm Inc. among others. Also, U.S. is leading the market in North America due to the technological advancements and early adoption of internet of things in the region. IoT managed services market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 due to rise in demand for managed services across different industry verticals in China, Japan, and India in the region. Whereas, the Europe market for IoT Managed Services is expected to grow at a considerable CAGR (2017-2023).
Industry News
February 2018 – Cisco has launched a new ‘5G Now’ portfolio for service providers taking action. More than 20 global service providers and mobile operator customers globally are advancing their 5G action plans. Cisco here is focused on providing three things, namely services, infrastructure and automation. The key elements in Cisco’s “5G Now” Portfolio include Multi Cloud, IP Core, 5G packet core and service edge, access, client services, security, and professional services.
January 2018 – PTC has partnered with Microsoft Corporation in order to help customers accelerate their digital transformations in IoT. Both the companies will align the technology and expertise in order to deliver a robust solution for Industrial IoT and digital product lifecycle management. However, PTC will be responsible for offering a managed service of ThingWorx which will be delivered on Azure.
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TABLE OF CONTENTS
1 Market Introduction
1.1 Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Network Solution
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
5 Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
Continued…
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Market Synopsis:According to Market Research Future (MRFR)’s latest analysis, the global IoT managed services market is set to thrive remarkably at a stellar CAGR of 24.48% during the forecast period 2016 to 2022.
IoT has penetrated major end-user industries such as retail, telecom, automotive, healthcare, etc.
An upsurge in applications is expected across different domains which are poised to accelerate revenue creation for market participants.IoT managed services helps is solving issues concerning technical support, automation, operations, etc.
For instance, the developments in the wireless connectivity technologies are prognosticated to attract a larger customer base in the years to come.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/2333IoT requisites seamless connectivity for operational efficiency.
The introduction of LTE technology has revolutionized the growth trajectory of the IoT managed services market over the last few years.
However, the rising threats associated with security is likely to hinder market growth through the review period.Market Segmentation:By services, the global IoT managed services market has been segmented into network management, security management, device management, infrastructure management, and others.By end-users, the IoT managed services market has been segmented into automotive and transport, IT and telecom, healthcare, BFSI, manufacturing, and others.By organization size, the IoT managed services market has been segmented into SMEs, large enterprise.Key Players:The prominent players in the market of IoT Managed Services market are –Accenture Plc.
According to a new market research report ”Internet of Things (IoT) Managed Services Market by Service Type (Infrastructure Management, Security Management, Network Management, Data Management, Device Management), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, The IoT managed services market size is expected to grow from USD 21.85 Billion in 2016 to USD 79.60 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 29.5% during the period 2016–2021.The major drivers for upsurge in demand for the IoT managed services market include rising momentum of managed cloud services as industry is transitioning from traditional hosting to cloud hosting.
So this redirects them to mostly utilize a third party managed cloud service provider for the same.Browse 36 market data tables and 36 figures spread through 112 pages and in-depth TOC on “Internet of Things (IoT) Managed Services Market by Service Type (Infrastructure Management, Security Management, Network Management, Data Management, Device Management), Vertical, and Region - Global Forecast to 2021"Major Key CompaniesThe major vendors covered in the IoT managed services market for this study include Cisco Systems, Inc. (California, U.S.), Cognizant Technology Solutions Corporation (New Jersey, U.S.), HCL Technologies Limited (Uttar Pradesh, India), Harman International Industries, Inc. (Connecticut, U.S.), Infosys Limited (Karnataka, India), Virtusa Corporation (Massachusetts, U.S.), Tieto Corporation(Helsinki, Finland), Tata Consultancy Services Limited (Maharashtra, India), Tech Mahindra Limited (Maharashtra, India), and Wipro Limited (Karnataka, India).Evolution of IoT technologies and increasing adoption of IoT system for enterprises provide lucrative growth opportunities across the globe over the forecast period.
The service provider guide companies in creating a new IoT infrastructure to enhance its existing system.
It also includes strategy formulation, use case development, roadmap development, technology assessment, and IoT architecture.Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256294760The scope of this report covers the IoT managed services market analysis by services type, vertical, and region.
Device management services helps to achieve better data security, perform analyses to gain valuable insights from the granular data coming out from these services, and ensure a great customer experience.The smart transportation segment is expected to have the largest market share and estimated to grow at the highest CAGR during the forecast period.
The increasing requirement for managing analytics, security, devices& sensors, data and high volume networking and increase in the overall operations and responsiveness drives the smart transportation vertical in IoT managed services market.As per the geographic analysis, Asia-Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.
Industry InsightThe fast-emerging IoT Managed Services Market 2020 is noticing escalated growth, which has been recorded at a CAGR of 22.4% by Market Research Future after an in-depth study.
It has also noted down that the market has high chances to reach a valuation of USD 172.6 billion by the year 2025, which is being instigated by various factors counting at the world level.
Such a growth scene will take place during the years of 2019 to 2025, which is stated to be the market’s forecast period.Top Impacting Driving FactorsThe rising demand from agriculture in smart farming and manufacturing sector for growing equipment efficiency is the significant driver for the growth of the IoT managed services market.
As per the UN, the global population is ready to stroke 9.6 billion by 2050; therefore, to nourish the population, the farming industry must embrace IoT.The applications of IoT-based smart farming not only target predictable large farming operations, but also may be used to fortify other upward or common trends in agriculture, such as family farming (complex or small spaces, particular cattle or cultures, preservation of particular or high-quality varieties, etc.
This may facilitate the IoT managed services market to cultivate efficiently in the assessment period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2333Furthermore, the expanding security threat, which is identified through connected devices and the demand for efficiency in connected devices, can be proficient by the Internet of thing managed service.
These are yet other factors bolstering demand for this market in the coming years.
