The IoT Managed Services Market is expected to grow from USD 46.53 billion in 2020 to USD 158.75 billion by 2026 at a CAGR of 27.82% from 2020 to 2026.
IoT is a 24 hours network of interconnected objects which are able to gather and exchange data using fixed sensors and mobile devices, among others. A connected device can be “smart” by integrating sensors, applications, networks, etc., which combined together to create additional intelligence. The applications of IoT can be observed in various industries today, such as healthcare, manufacturing, transport & logistics, retail, government and energy & utility, among others. Managed service is the application of outsourcing a dedicated team to manage defined responsibilities, to reduce cost and handle operations effectively. The market is growing owing to the rising evolution of smart cities and increasing ICT spending across industries, evolution of new applications in the field of wireless connectivity innovations along with the AI-based protection of data, devices and systems. These markets are highly used in the Healthcare, Retail, Transportation & Logistics, Utilities, Manufacturing, among various others. Surging demand from agriculture in smart farming and production sector for rising equipment productivity is a major driver for the increase of the IoT managed services market. The internet of things management market must develop to meet the ever-rising scale and scope of consumer, enterprise, industrial, and government solutions and systems. On the other hand the factors such as sluggish digitalization, dearth of common standards, coupled with privacy concerns, are restraining the market. Besides, the penetration of networking and communication technologies and the requirement for connected assets, real-time analytics and security of machines have resulted in the selection of IoT Managed Services.
Furthermore, the market is propelled by infrastructural advancements taking place in around the world and supportive economic conditions. In addition to this, several actions taken by governments in various countries for the development of digitalization are projected to provide new growth opportunities for players. The IT industry is transitioning from traditional hosting to cloud hosting. This boosts the increase of managed cloud services in China, which is propelling the market of wireless networking technologies. The major key players are emphasizing on new technological advancements to support the growth of the market for the Internet of Things in the domain.
The global IoT Managed Services Market is segregated on the basis of Service Type as Infrastructure management services, Security management services, Network management services, Data management services and Device management services. Based on Applications the global IoT Managed Services Market is segmented in Smart manufacturing, Smart metal, IT & telecom, Smart transportation, Smart energy & utilities, Smart buildings and Others.
The global IoT Managed Services Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The IoT Managed Services Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Cognizant, Harman International Industries, Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Tech Mahindra and others are among the major players in the global IoT Managed Services Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global IoT Managed Services Market has been segmented as below:
IoT Managed Services Market, By Service Type
IoT Managed Services Market, By Applications
IoT Managed Services Market, By Region
IoT Managed Services Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global IoT Managed Services Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global IoT Managed Services Market share. Major industry players with significant revenue share include Cognizant, Harman International Industries, Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Tech Mahindra and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. IoT Managed Services Market, By Service Type
5.1. Key Points
5.2. Infrastructure management services
5.3. Security management services
5.4. Network management services
5.5. Data management services
5.6. Device management services
6. IoT Managed Services Market, By Applications
6.1. Key Points
6.2. Smart manufacturing
6.3. Smart metal
6.4. IT & telecom
6.5. Smart transportation
6.6. Smart energy & utilities
6.7. Smart buildings
6.8. Others
7. Competitive Landscape
7.1. Introduction
7.2. Start-up companies- IoT Managed Services Market
7.3. Recent Developments
7.3.1. Mergers & Acquisitions
7.3.2. New Product Developments
7.3.3. Portfolio/Production Capacity Expansions
7.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
7.3.5. Others
8. Company Profile
8.1. ognizant
8.2. Harman International Industries, Inc.
8.3. Dell Technologies Inc.
8.4. Hewlett Packard Enterprise Co.
8.5. Tech Mahindra
8.6. Cisco Systems
8.7. Oracle
8.8. IBM
8.9. Accenture
8.10. HCL Technologies
8.11. Microsoft
8.12. Honeywell International
8.13. Google
8.14. AT&T
8.15. General Electric
8.16. SAP
8.17. Intel
8.18. Amazon Web Services
IoT Managed Services Market, By Service Type
IoT Managed Services Market, By Applications
IoT Managed Services Market, By Company