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IoT Managed Services Market: By Services (Network Management, Security Management, Device Management and Infrastructure Management), By End Users (Automotive & Transport and Manufacturing), By Organization Size (SMEs and Large Enterprise) - Forecast 2032


ID: MRFR/ICT/1717-CR | 85 Pages | Author: Ankit Gupta| July 2019

IoT Managed Services Market Overview


According to the reports, The IoT Managed Services Market size is anticipated to register a value of about USD 78.96 Billion by the end of the year 2032, expanding at a compound annual growth rate of CAGR of 15.7% during the projected period of time. Through the use of data flowing between devices connected and the electronic core, IoT managed services may provide systematic answers to business issues, improve operational efficiency, and open up new markets. Device driver, infrastructure services, data protection control, and network monitoring are the four distinct services that make up the Internet of Things managed services sector, respectively.


Figure 1: IoT Managed Services Market Size, 2023 - 2032 (USD Billion) 

IoT Managed Services Market Overview 2024


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

In order to keep up with the growing growth of mobile devices, smart urban initiatives, and the increasing advent of cloud services, businesses need access to corporate IoT specialists as well as the most dependable IoT network all under one roof to assist them in deploying and managing IoT solutions throughout their full lifespan.


This report contains all the information on the global IoT Managed Services Market analysis and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global IoT Managed Services Market forecast for 2025 is also included in the report.


IoT Managed Services Market Covid 19 Analysis


COVID-19 was unable to inflict significant harm on the worldwide IoT managed services sector. Minor issues arose in the second and third quarters of 2020, mostly as a result of a downturn in several end-user industries. After the worldwide epidemic of the coronavirus, the global telecommunications sector is said to have experienced significant delays in releasing the 5th generation mobile service. Nevertheless, just 33% of IT expenditures were reduced, and the majority of those funds were redirected toward mobile authentication and authorization improvements rather than other areas.


Market Dynamic


Drivers


The Internet of Things (IoT) managed services industry is gaining significant momentum. The ongoing deployment of LTE networks, as well as technical advances in a variety of sectors, are the primary drivers driving the growth of the IoT service management market. The increasing use of IoT managed services solutions in the automotive, electronic goods, and information and telecommunications industries is driving market development.


Opportunities


The market for IoT service management security remained promising, particularly over the mid-term 2020 period. As a consequence, the need for Internet of Things managed services has increased even more. Another factor influencing market development is the spread of a wide variety of contemporary linked digital equipment such as laptop computers and wearable technology such as cellphones and other smartphones, among other things. At the same time, more attention is being paid to improving network connection, which is boosting the development of the IoT managed services market opportunities.


Restraints


However, despite the positive development prospects, the industry is still plagued by major obstacles including a lack of technical knowledge and a lack of understanding about the advantages of IoT managed services. It is the most significant issue limiting market expansion.


Challenges


The public disclosure of private data in the context of privacy issues is a significant problem for the market.


Cumulative Growth Analysis


Industry 4.0 is changing industries, moving them away from legacy applications and toward smart products and intelligent robots, in order to enable the growth of digital manufacturing and the creation of an ecology of linked plants and businesses, among other things. OEMs have been encouraged to use the Internet of Things (IoT) throughout their businesses as part of Industry 4.0. The European Commission predicted that the worth of the Internet of Things (IoT) and digitalization across sectors will surpass EUR 1 trillion by 2020, as a result of the increasing acceptance of IoT and technology transfer across sectors.


Value Chain Analysis


According to the reports, lot managed services Market segments include services, end-users, organization size, and geography in the IoT managed services market growth. Among the sub-segments of the services, segment is network administration, security administration, device administration, infrastructure administration, and others. The end-users sector is further subdivided into the following categories: automotive and transportation, information technology and telecommunications, healthcare, BFSI, manufacturing, and others. The organization size category is further subdivided into small and medium-sized businesses (SMEs) and big organizations. The market is segmented into four regions: the Americas, South America, Europe, Asia Pacific, and the rest of the world.


IoT Managed Services Market Segmentation Overview


The market is segmented on the basis of services, end-users, organization size, and geography. The global lot managed services Market trend is expected to witness decent growth during the forecast period.


By Application


Based on the application, the market is segmented into network administration, security administration, device administration, infrastructure administration, and others.


By end-users


Based on the propulsion types, the market is segmented into automotive and transportation, information technology and telecommunications, healthcare, BFSI, manufacturing, and others.


IoT Managed Services Market Regional Analysis


According to the reports, the global lot managed services market is divided into North America, Europe, Asia Pacific, and the rest of the world. During the evaluation period, it is anticipated that North America will continue to be a very promising market for IoT management services. Growing demand for IoT managed services is being driven by factors such as rapid technological developments as well as the rapid adoption of IoT management services in this area. The availability of many major service providers and reliable data centers across the area contributes to the development of the IoT managed services market share. Furthermore, advancements in the Internet of Things maintained services and applications have proven beneficial in increasing the number of IoT managed services applications. A growing number of IT and telecommunications firms are promoting the widespread use of IoT managed services.


Europe is expected to be the second market for IoT managed services protection behind the United States. Increased expenditures in research and development, as well as breakthroughs in the Internet of Things (IoT) controlled services and applications, are occurring in the area. Furthermore, enormous advances in the automotive industry and technological improvements, as well as an increase in IoT managed services applications that demand of companies' digitalization, all contribute to the region's rapid growth. The United Kingdom and Germany are the two most important income producers in the regional industry, and they have emerged as the most appealing market area for market participants.


IoT Managed Services Market Competitive Landscape


Due to the obvious existence of many well-established companies in a highly competitive industry, the IoT managed service industry seems to be fragmented. M&A, development, and growth continue to be dominant important themes for the top companies, as these strategic initiatives help them achieve their long-term growth objectives. They provide goods and services that are dependable and cutting-edge. As a result, they make significant investments in research and development to create cutting-edge technology and a diverse product range.


IoT Managed Services Market Key Players




  • Cisco Systems, Inc.



  • Accenture PLC



  • Google, Inc.



  • Qualcomm Incorporated



  • AT&T



  • IBM



  • Microsoft Corporation



  • Oracle Corporation



  • Intel Security Group.



  • Hewlett Packard Enterprise Co.



Report Overview
The following report comprises of –



  • Market overview

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview

  • By Application

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments


28th of January, 2021 — Using ADVA's Ensemble portfolio of software-defined networking ( sdn virtualization (NFV) technologies, the Saudi Telecom Company (STC) is deploying on-demand, virtualized services to its customers, according to the corporation.


26th of January, 2021 — Ivanti, the automation platform which works to create IT connections smarter and more secure, has announced the introduction of Ivanti Neurons for Healthcare, which will be available in the coming months. The technology improves insight into medical IoT devices and empowers security teams to identify and fix issues in a more proactive manner than before.

21st of January, 2021 — WISEKey International Holding (NASDAQ: WISE), a global leader in identification and cybersecurity, today announced the extension of its Certificate Management Solution (CMS) installations for the Internet of Things (IoT), known as INeSTM, by introducing additional capabilities.

 5th of January, 2021 — Semtech formed a partnership with Amazon Web Services (AWS) to incorporate the LoRaWAN procedure on the Network Server with AWS IoT Core, AWS's managed Cloud system that lets digital technologies to communicate with Cloud services as well as other devices. AWS IoT Core is a managed Cloud service that lets smart devices to interact to Cloud applications and other devices.


IoT Managed Services Market Segmentation 


Services



  • Network Management

  • Security ManagementDevice Management

  • Infrastructure Management

  • Others


End-Users



  • Automotive & Transport

  • IT & Telecom

  • Healthcare

  • BFSI

  • Manufacturing

  • Others


Organization Size

  • SMEs

  • Large Enterprises


Region



  • North America

  • Europe

  • Asia Pacific

  • Rest of the World (RoW)


Report Attribute/Metric Details
  Market Size : 2032   USD 78.96 Billion
  CAGR   15.7%
  Base Year   2019
  Forecast Period   2023-2032
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Services, End Users
  Geographies Covered   North America, Europe, Asia-Pacific
  Key Vendors   Cisco Systems Inc. Accenture PLC Google Inc. Qualcomm Incorporated AT&T IBM Microsoft Corporation Oracle Corporation Intel Security Group. Hewlett Packard Enterprise Co.
  Key Market Opportunities   The market for IoT service management security remained promising, particularly over the mid-term 2020 period.
  Key Market Drivers   The Internet of Things (IoT) managed services industry is gaining significant momentum.


Frequently Asked Questions (FAQ) :

The global market for IoT managed services market is slated to reach a market value of USD 78.96 Billion by 2032.

The global IoT managed services market is poised to generate substantial revenue at a 15.7% CAGR over the review period (2023-2032).

The augmented number of connected devices, the current development of smart cities, and the growing adoption of cloud services are likely to create opportunities for the market players.

The lack of scalability is expected to impede the overall market grow

The security management segment is anticipated to record the highest CAGR over the review period.

The APAC region is witnessing significant technological development, foreign investment in emerging economies such as India and China, and increasing industrialization.

the technological advancements and early adoption of IoT managed services in North America are expected to drive the market over the review period.

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