IoT Managed Services Market to Witness Exponential Growth By 2027

Press Release

Latest market study on “IoT Managed Services Market to 2027 by Services (Device Management Services, Data Management Services, Network Management Services, and Security Management Services); by End-Use (Government, Manufacturing, Transportation & Logistics, Energy & Utilities, Smart Building & Home, IT & Telecom, Healthcare, BFSI, and Retail) – Global Analysis and Forecast”, the IoT managed services market is estimated to reach US$ 135.0 billion by 2027 from US$ 30.2 billion in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

The IoT managed services market has recently witnessed a significant adoption in diverse verticals ranging from government and manufacturing to healthcare and retail. The growth in adoption of IoT managed services is attributed to several factors such as rapid urbanization, trending smart homes, increasing penetration of smartphones, continuous advancements in cloud technology, rapid roll-out of 4G/5G networks, increasing cyber-attacks, and others.

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Company Profiles 

  • Cisco Systems Inc.
  • Cognizant
  • Google Inc.
  • Harman International
  • HCL Technologies Limited
  • IBM Corporation
  • Infosys Limited
  • Microsoft
  • Tata Consultancy Services Limited
  • Wipro Limited

There has been constant advancements in IoT managed services. Infosys entered into a partnership with Siemens PLM Software to create applications and services for MindSphere, which is an open cloud-based IoT operating system from Siemens. The partnership of Siemens and Infosys would enable the customers to enhance the competitiveness by managing the data produced by their devices. Initially the focus of partnership would be on the customers of energy, manufacturing, utilities, healthcare, transportation and logistics industries.

Increasing Demand from the Manufacturing Sector

The increasing adoption of IoT in the manufacturing sector is creating a massive demand for IoT managed services and are significantly driving the global IoT managed services market. With the increasing adoption of IoT in the manufacturing sector, most of the manufacturing companies are facing challenges while implementing IoT such as identification of suitable IoT solution, compatibility of IoT devices from different vendors, and others. To resolve this issue, IoT managed services providers offer services such as evaluate, integrate, and deploy IoT solution based on the requirement.

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Reasons to Buy:

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global IoT Managed Services market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the IoT Managed Services market, thereby allowing players across the value chain to develop effective long term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client offering, segmentation, pricing and distribution
  • Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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About The Insight Partners:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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