The IoT services enables interoperability with connected devices for solving business problems with respect to any function as operations, technical support, innovation and others. The Global IoT Managed Services Market is growing with the rapid pace mainly due to the emergence of connected devices and the burgeoning advent technology.
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 22.4% during the forecast period to 2025. The market is anticipated to scale a valuation of USD 172.6 Billion towards the end of the assessment period. 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.
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The important players of the IoT managed services market profiled in this MRFR report are Accenture Plc. (Ireland), Google Inc. (U.S), Cisco System Inc. (U.S), Apple Inc. (U.S), Intel Corporation (U.S), AT & T Inc. (U.S), Microsoft Corporation (U.S), International Business Machines Corporation (IBM) (U.S), HP Inc. – (U.S), and Qualcomm Inc. (U.S).
IoT managed services helps is solving issues concerning technical support, automation, operations, etc. while facilitating interoperability. Technological innovations are prognosticated to dictate the growth trajectory of the IoT managed services market by increasing shift towards connectivity. For instance, the developments in the wireless connectivity technologies are prognosticated to attract a larger customer base in the years to come.
IoT 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. The commercialization of 5G networks is projected to catapult the market on an upward trajectory. It is forecasted to exponentially increase the number of connected devices over the next few years, thus, augmenting the market.
The market is expected to attract inflow of investments over the assessment period for boosting the growth pattern of the IoT managed services market in the foreseeable future. However, the rising threats associated with security is likely to hinder market growth through the review period.
IoT performance for enterprises with their offerings, which also boosts the growth of the market. Solution depends on a blend of sensors networks system and software for different of merchants. The key drivers to increase in demand for IoT managed services market contain growth of managed cloud services and inclination to cost effective managed services. Managed Service Providers offer high efficiency. Another major driver of the IoT Managed services is failure in the profits from the services and unstable revenue is shifting the focus to the Managed Service Providers. Momentum is increasing for the managed cloud services.
Failure of managed service providers to handle with loads of densities is the major constraint for IoT managed Services market. The security thread for the IoT managed Service is also the major constraint for the IoT managed Services providers.
Most of the industries today are spending on smart technologies to advance their customer fulfilment, diminish the operational costs, and upsurge the ROI. Within few years, billions of devices will be connecting to the internet from various businesses. The rise in the number of connected devices will lead to great claim for the managed services.
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.
IoT Managed Services has a high penetration across the globe. The global IoT Managed Services market is analyzed on the basis of region into different regions as North America, Asia-Pacific, Europe and Rest of the world (ROW). North America region is expected to hold the largest share in the IoT Managed Services Market. The technological advancements and early adoption of IoT Managed Services in this region has resulted in the highest market share in the IoT Managed Services market.
In April 2019, a provider of service assurance and IoT applications management solutions, Viakoo, has signed a platinum partnership agreement with Convergint Technologies, systems integrator, for managed services sales.
In April 2019, Ericsson, a telecom technology major, has showcased use cases of Internet of Things (IoT) and 5G including Intelligent Managed Services, Ericsson Spectrum Sharing, and Communication on Smart Devices.
In April 2019, Telia Company AB, a Swedish dominant telephone company, has signed a 10-year contract with energy services firm ONE Nordic for the connectivity of 900,000 smart meters with low-power, wide-area network (LPWAN).
In April 2019, IT Europa and Angel Business Communications announced that they would jointly host the ninth annual UK Managed Services & Hosting Summit 2019 which will bring resellers, integrators, and providers of managed services together.
Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued. . .
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