by on October 4, 2023
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IoT Managed Services Market Overview

The Global IoT Managed Services Market size is anticipated to register a value of about USD 391.53 Billion by the end of the year 2030.

Key Market Segments

The IoT managed services market can be segmented into:

  • Managed Connectivity Services: Largest and fastest growing segment, includes cellular, satellite and WiFi connectivity management. Expected to reach $33.5 billion by 2026.
  • Managed Platform Services: Includes managing cloud platforms like AWS IoT, Azure IoT etc. Projected to grow at 15.8% CAGR.
  • Managed Security Services: Vital for securing IoT devices, networks and data. Market size will exceed $18 billion by 2026.
  • Managed Data Services: Focus on collecting, analyzing and deriving insights from IoT data. Revenue expected to touch $14 billion in 2026.
  • Managed Infrastructure Services: Covers servers, storage and virtualization for IoT. Market size will be around $12 billion in 2026.

Key Companies

Leading companies offering IoT managed services include:

  • Cognizant: Comprehensive managed IoT services for device lifecycle, data analytics etc. IoT revenue over $500 million.
  • IBM: Offers managed services via Watson IoT platform. Has expertise across industries like energy, manufacturing etc.
  • Accenture: Helps clients across IoT strategy, platform, security and analytics. Strong presence across industries.
  • Tata Consultancy Services: Services like IOT cyber vigilance, data analytics, predictive maintenance. Revenue of $25 billion in 2021.
  • Atos: End-to-end offerings from edge devices to data analytics. Global leader in managed IoT services.
  • Wipro: Services spanning consulting, security, cloud platforms, applications. IoT revenue exceeded $200 million in 2021.

Market Drivers

Key factors fueling the growth of IoT managed services market:

  • Increasing deployment of IoT across manufacturing, energy, transportation, healthcare etc.
  • Growing need for specialized expertise in IoT platform management, connectivity, security and data analytics.
  • Rising adoption of outcome-based business models and managed services by enterprises.
  • Shortage of skilled staff for IoT operations driving demand for managed service providers.
  • Evolution of IoT technology requiring constant updates and management of IoT systems.
  • Shift from cloud to edge computing propelling demand for managed edge IoT services.

Regional Insights

North America held the largest share of over 35% in 2021 due to early adoption of IoT. Asia Pacific is expected to witness the fastest growth over 2022-2026 given the rapid IoT adoption in China, Japan and India. Europe is another major market where growth will be driven by investments in smart manufacturing and Industry 4.0.

Browse In-depth Market Research Report (85 Pages, Charts, Tables, Figures) on IoT Managed Services Market -

https://www.marketresearchfuture.com/reports/iot-managed-services-market-2333

Industry Latest

Key developments shaping the IoT managed services market include an increasing focus on industry vertical solutions, mergers and acquisitions between managed service providers, partnerships with telecom companies for 5G enabled IoT offerings, and managed blockchain services for IoT data security and integrity.

In summary, the rising complexity of IoT ecosystem and technology is fueling strong demand for specialized managed services across industries globally. The market is witnessing robust growth as enterprises seek outsourced skills for IoT platform management, security, connectivity and data analytics.

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