Pune, India -- (SBWIRE) -- 10/02/2018 -- Market Scenario

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 IoT Managed Services market is segmented by various end-users, as IT & Telecom, healthcare, retail, Automotive & Transport, manufacturing and others. Out of these end-users, the adoption of IoT Managed Services is expected to be the largest in the automotive and transport sector.

The ongoing deployment of LTE and technological advancements in various fields have boosted the number of connected devices. The connected devices consist of numerous devices such as sensors, smart phones, tablet computers, laptops, and desktop personal computers. The trend of a high attraction towards connectivity is observed worldwide. The emergence of new technologies like ZigBee, which works on inexpensive batteries, improves comfort in the development of connected devices. Emergence of new applications and technological advancements in the field of wireless connectivity technologies such as general packet radio service (GPRS), Wi-Fi, and worldwide interoperability for microwave access (WiMax) are increasing the number of connected devices. The connected devices provide seamless and rapid activation experience, also provides monitoring and diagnostics which requires to be managed properly. Cisco, one of the top players in connected devices and IoT provider analyzed that approximately 50 billion devices will be connected devices. The number of connected devices is expected to increase exponentially in the coming years. The increased security threats related to connected devices and the demand for efficiency in connected devices can be achieved by the IoT managed services thus leaving a positive impact on the IoT managed services market.

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The global IoT Managed Services market is expected to reach USD 84.12 billion by the end of 2022 with 24.48% CAGR during forecast period 2016-2022

Key Players:

The prominent players in the market of IoT Managed Services market are –Accenture Plc. (Ireland), Cisco System Inc. (U.S), Google Inc. (U.S), Apple Inc. (U.S), AT & T Inc. (U.S), Intel Corporation (U.S), Microsoft Corporation (U.S), HP Inc. - (U.S), - International Business Machines Corporation (IBM) (U.S), Qualcomm Inc. (U.S) and among others

IoT Managed Services Global Market - Segmentation

The Iot Managed Services Market can be classified into 4 key segments for the convenience of the report and enhanced understanding;

- Segmentation by Service Type: Comprises of Infrastructure Management Services, Security Management Services, Network Management Services, Data Management Services and Device Management Services
- Segmentation by Organization Size: Comprises Of SMEs and Large Enterprises
- Segmentation by Application: Comprises Of Smart Manufacturing, Smart Retail, IT & Telecommunication, Smart Transportation, Smart Energy & Utilities, Smart Buildings and Others
- Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

IoT Managed Services Global Market - Regional Analysis

North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the IoT managed services market in North America owing to the presence of a large number of established key players such as Cisco Systems Inc., Google Inc., Apple Inc., Intel Corporation, Microsoft Corporation, HPE, IBM and Qualcomm Inc. among others. Also, U.S. is leading the market in North America due to the technological advancements and early adoption of internet of things in the region. IoT managed services market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 due to rise in demand for managed services across different industry verticals in China, Japan, and India in the region. Whereas, the Europe market for IoT Managed Services is expected to grow at a considerable CAGR (2017-2023).

Industry News

February 2018 – Cisco has launched a new '5G Now' portfolio for service providers taking action. More than 20 global service providers and mobile operator customers globally are advancing their 5G action plans. Cisco here is focused on providing three things, namely services, infrastructure and automation. The key elements in Cisco's "5G Now" Portfolio include Multi Cloud, IP Core, 5G packet core and service edge, access, client services, security, and professional services.

January 2018 – PTC has partnered with Microsoft Corporation in order to help customers accelerate their digital transformations in IoT. Both the companies will align the technology and expertise in order to deliver a robust solution for Industrial IoT and digital product lifecycle management. However, PTC will be responsible for offering a managed service of ThingWorx which will be delivered on Azure.

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Intended Audience

- IoT Managed Services Manufacturers
- Distributors
- Research firms
- Consultancy firms
- Software Developers
- Vendors
- Semiconductor Manufacturers
- Stakeholders
- End-user sectors
- Technology Investors

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