Global Internet of Things (IoT) Managed Services Market - Growth, Trends, and Forecast (2018 - 2023)

"The global IoT managed services market was valued at USD 26.96 billion in 2017, and is expected to reach a value of USD 115.05 billion by 2023 at a CAGR of 27.36%, during the forecast period (2018 - 2023). This report provides information about the leading players in the market and a corresponding detailed analysis of the top vendors in the IoT managed services market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.

The key factors augmenting the adoption of IoT managed services is the major paradigm shift of organizations in various industries, from traditional hosting to cloud hosting services. These organizations are adopting managed service providers (MSPs) to achieve high performance and to aid them in planning financial budget.

Development of New Applications in the Field of Connected Device is Driving Market Growth

Development of new applications and technological advancements in the field of wireless connectivity innovations (such as Wi-Fi, GPRS, and WiMax) are increasing the number of connected devices. The increased security threats, identified with connected devices, and the demand for efficiency in connected devices can be accomplished by the IoT managed service, thus, leaving a positive effect on the IoT managed service market.

Manufacturing Expected to Have the Largest Market Share

The manufactures' requirement for operational productivity has augmented the usage of sensors through upgraded automation and integrated connected technology solutions over the manufacturing procedure. High volume networking, coupled with a rise in the overall operations, devices & sensors, data, security, and the increasing requirement for managing analytics drive the manufacturing segment in the IoT managed services market.

APAC is Growing at an Exponential Rate

The North American market has been the market of focus for IoT Managed Service companies. The North American market is the highest contributor to the market, followed by Europe and Asia-Pacific. North America holds a major chunk in the global market. The United States is major contributor to the North American market, on account of early adoption and major investments in the IoT technology. The demand for IoT managed service in the Asia-Pacific region is expected to increase significantly during the forecast period. The increase in spending on technologies, rising investments in advanced technologies, and high mobile and internet penetration are the major drivers for the IoT managed service market in Asia-Pacific. India is set to be one of the most attractive destinations for investment activities in IoT, owing to government initiatives, such as smart cities.

Key Developments in the Market

• March 2018 u2013 Virtusa acquired eTouch Systems Corp, a technology service company that is specialized in Digital web Engineering. This acquisition is anticipated to expand Virtusa’s digital engineering and IT outsourcing services
• October 2017 u2013 Dell EMC expanded its open networking to handle digital transformation that is increasing top-of-rack performance, thereby, bringing open networking to data center interconnect applications


Reasons to Purchase this Report

• Current and future Internet of Things (IoT) Managed Services market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identifying the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs"

"1. Introduction

1.1 Key Deliverables of the Study

1.2 Study Assumptions

1.3 Market Definition

1.4 Key Findings of the Study

2. Research Approach and Methodology

3. Executive Summary

4. Market Insights

4.1 Market Overview

4.2 Industry Attractiveness \u2013 Porter's Five Industry Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Consumers

4.2.3 Threat of New Entrants

4.2.4 Threat of Substitute Products or Services

4.2.5 Competitive Rivalry among Existing Competitors

4.3 Industry Valuechain analysis

5. Market Dynamics

5.1 Factors Driving the Market

5.1.1 Growing Momentum for Managed Cloud Services

5.1.2 Development Of New Applications In The Field Of Connected Device

5.2 Factors Restraining the Market

5.2.1 Privacy and Security Threats in IoT

6. Technology Snapshot

7. Global IoT Managed Services Segmentation

7.1 By Service

7.1.1 Security Management Services

7.1.2 Network Management Services

7.1.3 Infrastructure Management Services

7.1.4 Device Management Services

7.1.5 Data Management Services

7.2 By End-user

7.2.1 Energy and Utilities

7.2.2 IT and Telecom

7.2.3 Manufacturing

7.2.4 Transportation

7.2.5 Retail

7.2.6 Others

7.3 By Geography

7.3.1 North America

7.3.2 Europe

7.3.3 Asia-Pacific

7.3.4 Middle East & Africa

7.3.5 Latin America

8. Competitive Intelligence \u2013 Company Profiles

8.1 Cognizant Technology Solutions Corporation

8.2 Infosys Limited

8.3 Virtusa Corporation

8.4 Tata Consultancy Services Ltd

8.5 Tieto Corporation

8.6 Dell Technologies Inc

8.7 Harman International Industries, Inc.

8.8 Wipro Limited

8.9 HCL Technologies Limited

8.10 Tech Mahindra Limited

*List not exhaustive

9. Investment Analysis

10. Future Outlook of the Market"

Global Internet of Things (IoT) Managed Services Market - Growth, Trends, and Forecast (2018 - 2023)