Worldwide Internet of Things (IoT) Managed Services Market to Grow at a CAGR of 15.3% during the forecast period to reach $120 billion by 2022
Rising adoption of mobility technology, increasing awareness about smart technologies among end users, increased spending on IoT technologies in industries and rising mobile subscriber base are few growth driving factors in the Worldwide Internet of Things (IoT) Managed Services Market
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Worldwide Internet of Things (IoT) Managed Services Market”.
Internet of things offers immense growth opportunity for managed service providers. The connected world would involve 30 billion devices by 2020 and in this connected world managed services would be a critical component.
According to Infoholic Research, current IoT adoption is still at a nascent stage but there is a continuous demand for IoT technology across all organizations globally. Organization are reaping the benefits of IoT adoption and are also willing to invest heavily on the technologies. The increase in the adoption rate will in turn positively impact the IoT managed services market.
The IoT managed services market is analysed by three segments: Managed Services Types, Regions, and Verticals. The Managed Services Types segment is further sub segmented by Managed Security Services, Managed Network Services, Managed Device Services and Managed Infrastructure Services.
The market is segmented and analyzed by the following application verticals- Manufacturing, Retail and Consumer Electronics, BFSI, Healthcare, Transportation, IT & Telecom, Energy and Utilities and Education.
The market is segmented and analyzed by the following geographies- North America, Western Europe, Central Eastern Europe, Asia Pacific, Middle East & Africa and Latin America.
North America and Western Europe are poised to hold the major share for IoT Managed Services Market by 2022. Asia Pacific is the emerging region for the IoT market. The increasing mobile and internet penetration, rising investments in advanced technology, digital technology, and government initiatives are few factors supporting the IoT market growth in the Asia Pacific. In addition, India and China are set to be the most attractive destination for business expansion and/or investment activities and hence managed service providers can benefit by providing sophisticated services in this market in the next 6–7 years.
As per the study, North America is set to be the leading region for IoT managed service market followed by Western Europe and Asia-Pacific. The Middle East & Africa and Latin America are set to be the emerging regions for IoT market growth.
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IOT SERVICES - HEALTHCARE
The graph exclusively shows the exclusive growth in Market Revenue of IoT managed services of Energy & Utilities in North America from $1639.00 million to $3,400.40 million in the year 2016 to 2020. For the same time span and IoT segment the market revenue for West Europe and Asia Pacific will be rising from $1187.1 million to $2336.9 and $845.6 million to $1920.2 respectively.
IOT MANAGED SERVICES MARKET REVENUE IN ENERGY & UTILITIES BY REGIONS, 2016–2022 ($MILLION)
“Demand for managed service providers (MSP) is increasing among the end-users. Customers expect MSP to provide secure networks, device management, billing platforms, network integration, and connectivity. Moreover, customers need a single solution that provides one window into many networks and add-on existing networks. Thus, IoT managed service providers are expected to address this gap and provide customized solutions to customers” – Jaydeep Bhattacharjee – Group Head at Infoholic Research
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- The report provides exhaustive detail about the usage and adoption of IoT managed services market
- The report covers drivers, restraints and opportunities (DRO) impacting the market during the forecast period (2016–2022)
- The report offers exhaustive analysis of the emerging regions and key verticals for IoT managed services, usage and adoption rate of various IoT managed services within each industry vertical and in-depth analysis of the key business opportunities within each vertical
- The report discusses the industry outlook such as current and future market trends and drivers, restraints and emerging technologies
- It includes detailed vendor profiling encompassing financial health, business units, key business priorities, SWOT analysis, business strategy and views
- The report also covers competitive landscape, which includes mergers and acquisitions, joint ventures and collaborations, and competitor comparison analysis
- Financial information and revenue of segments for privately held companies is limited in the vendor profile section