Global Internet of Things (IoT) Managed Services Market By Service Type (Infrastructure Management Services, Security Management Services, Network Management Services, Data Management Services, Device Management Services), Vertical (Smart Manufacturing, Smart Retail, IT and Telecom, Smart Transportation, Smart Energy and Utilities, Smart Buildings, Agriculture, Healthcare, BFSI, Government and Defense, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Internet of Things (IoT) Managed Services Market
Global internet of things (IoT) managed services market is set to witness a healthy CAGR of 29.90% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market value can be attributed due to regular cloud technological advancement and continuous wireless connectivity innovations.
Market Definition: Global Internet of Things (IoT) Managed Services Market
IoT is a 24/7 network of interconnected objects among other things capable of collecting and exchanging information using integrated sensors and mobile devices. By mixing sensors, networks and applications that comes together to generate added intelligence, a linked device can become "smart." IoT applications can be discovered today in a number of sectors, including manufacturing, healthcare, transportation & logistics, government, retail, and power & utility.
- Regular advancements in cloud technologies, are driving the market growth
- Surging demand from agriculture in smart farming, is helping the market to grow
- Development of new applications and technological advancements in the field of wireless connectivity innovations, fosters the market growth
- Increasing development of smart cities and increasing ICT spending across industries, driving the growth of the market
- The MSPs are not capable of coping up with the complexities associated with IoT, that hampers the growth of the market
- Lack of scalability and flexibility in the service offerings of MSPs in IoT Space, hinders the market growth
Segmentation: Global Internet of Things (IoT) Managed Services Market
By Service Type
- Infrastructure Management Services
- Security Management Services
- Network Management Services
- Data Management Services
- Device Management Services
- Smart Manufacturing
- Smart Retail
- IT and Telecom
- Smart Transportation
- Smart Energy and Utilities
- Smart Buildings
- Government and Defense
- North America
- South America
- Rest of South America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
Key Developments in the Market:
- In July 2019, IBM has announced its multi-year strategic alliance with AT&T. IBM will provide infrastructure requirement for the applications of AT&T Business. The open source platform of Red Hat will be used by AT&T Business to handle workload and apps. The improvements will make it possible for AT&T Business to serve business clients better. This alliance will help moving AT&T business application to IBM cloud.
- In April 2019, Larsen & Toubro Infotech and VJTI have announced their collaboration to develop multiple disruptive innovations resolving social issues. The LTI-VJTI tie-up, with the establishment of the IIoT laboratory seeks to increase awareness and create interest in using sophisticated and emerging technologies to solve social issues. This collaboration will provide a good platform for VJTI students.
Global internet of things (IoT) managed services market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of internet of things (IoT) managed services market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors
Few of the major competitors currently working in the global internet of things (IoT) managed services markets are Cisco Systems, Inc., Wipro Limited, Tech Mahindra Limited, Tata Consultancy Services Limited., Tieto, Virtusa Corporation, Infosys Limited, HARMAN International., HCL Technologies Limited, Cognizant, IBM Corporation, Accenture, Dell, Oracle, Google, Honeywell International Inc, Microsoft, Happiest Minds, Akzo Nobel N.V., Clariant, among others.
Research Methodology: Global Internet of Things (IoT) Managed Services Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved