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Global IoT Managed Services Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035

  • PUBLISHED ON
  • 9/22/2022
  • NO OF PAGES
  • 228
  • CATEGORY
  • Information Technology

Market Overview:

The Internet of Things (IoT) Managed Services Market refers to the outsourcing of IoT services and solutions to a third-party managed services provider. These services include management and maintenance of IoT devices, data analytics, network connectivity, security, and other related services. The primary objective of IoT managed services is to provide a comprehensive and reliable solution to organizations for the efficient functioning of IoT devices and networks.

Some of the advantages of IoT Managed Services include:

·         Cost-effective: Outsourcing IoT managed services can be more cost-effective for organizations rather than investing in the in-house setup of the same.

·         Expertise: Third-party IoT managed services providers have the required technical expertise and experience in managing IoT devices and networks.

·         Enhanced Security: IoT managed services providers ensure that IoT devices and networks are secure and protected from potential cyber threats.

·         Scalability: Organizations can easily scale up or down their IoT managed services as per their business needs.

Some of the widespread uses of IoT Managed Services are Smart homes and buildings: IoT managed services can be used to manage and maintain smart home devices and building automation systems; Healthcare: IoT managed services can be used to monitor and manage healthcare devices and patient data in real-time; Industrial automation: IoT managed services can be used to monitor and maintain industrial automation systems and devices; Smart cities: IoT managed services can be used to manage and maintain smart city infrastructure, such as traffic management systems, public transportation, and waste management systems.

The adoption of IoT Managed Services is increasing rapidly due to the growing use of IoT devices and networks in various industries. The market for IoT managed services is expected to grow significantly in the coming years, driven by factors such as increasing adoption of cloud-based IoT solutions, the need for real-time data analysis, and the growing demand for connected devices.

The increasing adoption of IoT devices and the need for effective management and maintenance of these devices drive the IoT managed services market.

The IoT managed services market is being driven by the growing adoption of connected devices and the increasing need for organizations to outsource the management and maintenance of their IoT infrastructure to third-party providers. IoT managed services are helping organizations to reduce the complexity and costs of managing their IoT devices and applications, while also improving the security and reliability of their IoT networks. As the number of connected devices continues to grow, organizations are facing significant challenges in managing and maintaining their IoT infrastructure. IoT devices generate vast amounts of data, which can be difficult to manage and analyze without the right tools and expertise. In addition, IoT devices are often located in remote or hard-to-reach locations, making it difficult for organizations to monitor and maintain their networks effectively. IoT managed services providers offer a range of services to help organizations overcome these challenges. These services include device management, network management, data analytics, security, and consulting. IoT managed services providers can help organizations to deploy and manage their IoT infrastructure more efficiently, while also providing advanced analytics and insights into their IoT data. The adoption of IoT managed services is also being driven by the need for organizations to improve the security and reliability of their IoT networks. IoT devices are often vulnerable to cyber-attacks, and organizations need to take steps to protect their networks and data from unauthorized access. IoT managed services providers can help organizations to implement security best practices and protocols, such as data encryption, access control, and network segmentation, to mitigate the risk of cyber-attacks.

Segmentation:

By Application

·         Network Management

·         Device Management

·         Data Management

·         Security Management

By Industry Vertical

·         Manufacturing

·         Smart Retail

·         IT and Telecom

·         Smart Transportation

·         Energy and Utilities

·         Buildings

·         Agriculture

·         Healthcare

·         BFSI

·         Government and Defense

·         Others

Geography:

The IoT Managed Services Market is dominated by North America due to the presence of major players, early adoption of IoT technologies, and favorable government initiatives to support the growth of IoT in the region. The Asia-Pacific region is also expected to witness significant growth due to the increasing adoption of IoT across various industry verticals and the growing trend of digitization in countries such as China, India, and Japan.

Impact of COVID-19 on the global IoT Managed Services Market:

The COVID-19 pandemic has had a significant impact on the IoT managed services market. On the one hand, the pandemic has led to an increased demand for IoT solutions and services, as organizations have had to rapidly adopt digital solutions to enable remote work, ensure supply chain continuity, and support other business functions. This has resulted in an increased demand for managed IoT services that can help organizations rapidly deploy and manage these solutions. On the other hand, the pandemic has also led to supply chain disruptions, workforce shortages, and economic uncertainty, which has affected the growth of the IoT managed services market. Many organizations have had to reduce their spending on IT and IoT services, which has impacted the growth of the market.

However, as the world begins to recover from the pandemic, the demand for IoT managed services is expected to continue to grow. The market is projected to benefit from the increased adoption of IoT devices and applications across various industries and the growing need for real-time data analytics and insights.

Impact of the Russia-Ukraine War on the global IoT Managed Services Market:

The ongoing conflict between Russia and Ukraine has had a significant impact on global markets, particularly on energy and commodity markets. The war has raised concerns about the stability of the global supply chain and has led to fluctuations in oil and gas prices. Additionally, the imposition of economic sanctions by Western countries on Russia has had an impact on trade and investment. The war has also caused geopolitical tensions, leading to uncertainty and volatility in financial markets. The impact of the conflict on the market is likely to continue as long as the war persists.

Company Profiles:

·         IBM Corporation

·         Cisco Systems, Inc.

·         Cognizant Technology Solutions Corporation

·         Accenture PLC

·         HCL Technologies Limited

·         Infosys Limited

·         TATA Consultancy Services Limited

·         Tech Mahindra Limited

·         Wipro Limited

·         AT&T Inc.

·         Intel Corporation

·         Microsoft Corporation

·         Google LLC

·         Oracle Corporation

·         Amazon Web Services, Inc.


Global IoT Managed Services Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global IoT Managed Services market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Global IoT Managed Services Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.

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Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035


1 IoT Managed Services Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of IoT Managed Services
1.3 IoT Managed Services Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of IoT Managed Services
1.4.2 Applications of IoT Managed Services
1.5 Market Exchange Rate

2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source

3 Market Competition Analysis
3.1 Tieto Corporation Market Performance Analysis
3.1.1 Tieto Corporation Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Tieto Corporation Sales, Value, Price, Gross Margin 2016-2021
3.2 Wipro Ltd. Market Performance Analysis
3.2.1 Wipro Ltd. Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 Wipro Ltd. Sales, Value, Price, Gross Margin 2016-2021
3.3 Virtusa Corporation Market Performance Analysis
3.3.1 Virtusa Corporation Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 Virtusa Corporation Sales, Value, Price, Gross Margin 2016-2021
3.4 HCL Technologies Ltd. Market Performance Analysis
3.4.1 HCL Technologies Ltd. Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 HCL Technologies Ltd. Sales, Value, Price, Gross Margin 2016-2021
3.5 Cisco Systems Inc. Market Performance Analysis
3.5.1 Cisco Systems Inc. Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Cisco Systems Inc. Sales, Value, Price, Gross Margin 2016-2021
3.6 Tech Mahindra Ltd. Market Performance Analysis
3.6.1 Tech Mahindra Ltd. Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 Tech Mahindra Ltd. Sales, Value, Price, Gross Margin 2016-2021
3.7 Aricent Inc. Market Performance Analysis
3.7.1 Aricent Inc. Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 Aricent Inc. Sales, Value, Price, Gross Margin 2016-2021
3.8 Infosys Ltd. Market Performance Analysis
3.8.1 Infosys Ltd. Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Infosys Ltd. Sales, Value, Price, Gross Margin 2016-2021
3.9 Cognizant Technology Solutions Corp. Market Performance Analysis
3.9.1 Cognizant Technology Solutions Corp. Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 Cognizant Technology Solutions Corp. Sales, Value, Price, Gross Margin 2016-2021
3.10 Tata Consultancy Services Market Performance Analysis
3.10.1 Tata Consultancy Services Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 Tata Consultancy Services Sales, Value, Price, Gross Margin 2016-2021

4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global IoT Managed Services Production and Value by Type
4.1.1 Global IoT Managed Services Production by Type 2016-2021
4.1.2 Global IoT Managed Services Market Value by Type 2016-2021
4.2 Global IoT Managed Services Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Infrastructure management services Market Production, Value and Growth Rate
4.2.2 Security management services Market Production, Value and Growth Rate
4.2.3 Network management services Market Production, Value and Growth Rate
4.2.4 Data management services Market Production, Value and Growth Rate
4.2.5 Device management services Market Production, Value and Growth Rate
4.3 Global IoT Managed Services Production and Value Forecast by Type
4.3.1 Global IoT Managed Services Production Forecast by Type 2021-2026
4.3.2 Global IoT Managed Services Market Value Forecast by Type 2021-2026
4.4 Global IoT Managed Services Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Infrastructure management services Market Production, Value and Growth Rate Forecast
4.4.2 Security management services Market Production, Value and Growth Rate Forecast
4.4.3 Network management services Market Production, Value and Growth Rate Forecast
4.4.4 Data management services Market Production, Value and Growth Rate Forecast
4.4.5 Device management services Market Production, Value and Growth Rate Forecast

5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global IoT Managed Services Consumption and Value by Application
5.1.1 Global IoT Managed Services Consumption by Application 2016-2021
5.1.2 Global IoT Managed Services Market Value by Application 2016-2021
5.2 Global IoT Managed Services Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Smart manufacturing Market Consumption, Value and Growth Rate
5.2.2 Smart metal Market Consumption, Value and Growth Rate
5.2.3 IT & telecom Market Consumption, Value and Growth Rate
5.2.4 Smart transportation Market Consumption, Value and Growth Rate
5.2.5 Smart energy & utilities Market Consumption, Value and Growth Rate
5.2.6 Smart buildings Market Consumption, Value and Growth Rate
5.2.7 Others (smart healthcare and smart education) Market Consumption, Value and Growth Rate
5.3 Global IoT Managed Services Consumption and Value Forecast by Application
5.3.1 Global IoT Managed Services Consumption Forecast by Application 2021-2026
5.3.2 Global IoT Managed Services Market Value Forecast by Application 2021-2026
5.4 Global IoT Managed Services Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Smart manufacturing Market Consumption, Value and Growth Rate Forecast
5.4.2 Smart metal Market Consumption, Value and Growth Rate Forecast
5.4.3 IT & telecom Market Consumption, Value and Growth Rate Forecast
5.4.4 Smart transportation Market Consumption, Value and Growth Rate Forecast
5.4.5 Smart energy & utilities Market Consumption, Value and Growth Rate Forecast
5.4.6 Smart buildings Market Consumption, Value and Growth Rate Forecast
5.4.7 Others (smart healthcare and smart education) Market Consumption, Value and Growth Rate Forecast

6 Global IoT Managed Services by Region, Historical Data and Market Forecasts
6.1 Global IoT Managed Services Sales by Region 2016-2021
6.2 Global IoT Managed Services Market Value by Region 2016-2021
6.3 Global IoT Managed Services Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global IoT Managed Services Sales Forecast by Region 2021-2026
6.5 Global IoT Managed Services Market Value Forecast by Region 2021-2026
6.6 Global IoT Managed Services Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa

7 United State Market Size Analysis 2016-2026
7.1 United State IoT Managed Services Value and Market Growth 2016-2021
7.2 United State IoT Managed Services Sales and Market Growth 2016-2021
7.3 United State IoT Managed Services Market Value Forecast 2021-2026

8 Canada Market Size Analysis 2016-2026
8.1 Canada IoT Managed Services Value and Market Growth 2016-2021
8.2 Canada IoT Managed Services Sales and Market Growth 2016-2021
8.3 Canada IoT Managed Services Market Value Forecast 2021-2026

9 Germany Market Size Analysis 2016-2026
9.1 Germany IoT Managed Services Value and Market Growth 2016-2021
9.2 Germany IoT Managed Services Sales and Market Growth 2016-2021
9.3 Germany IoT Managed Services Market Value Forecast 2021-2026

10 UK Market Size Analysis 2016-2026
10.1 UK IoT Managed Services Value and Market Growth 2016-2021
10.2 UK IoT Managed Services Sales and Market Growth 2016-2021
10.3 UK IoT Managed Services Market Value Forecast 2021-2026

11 France Market Size Analysis 2016-2026
11.1 France IoT Managed Services Value and Market Growth 2016-2021
11.2 France IoT Managed Services Sales and Market Growth 2016-2021
11.3 France IoT Managed Services Market Value Forecast 2021-2026

12 Italy Market Size Analysis 2016-2026
12.1 Italy IoT Managed Services Value and Market Growth 2016-2021
12.2 Italy IoT Managed Services Sales and Market Growth 2016-2021
12.3 Italy IoT Managed Services Market Value Forecast 2021-2026

13 Spain Market Size Analysis 2016-2026
13.1 Spain IoT Managed Services Value and Market Growth 2016-2021
13.2 Spain IoT Managed Services Sales and Market Growth 2016-2021
13.3 Spain IoT Managed Services Market Value Forecast 2021-2026

14 Russia Market Size Analysis 2016-2026
14.1 Russia IoT Managed Services Value and Market Growth 2016-2021
14.2 Russia IoT Managed Services Sales and Market Growth 2016-2021
14.3 Russia IoT Managed Services Market Value Forecast 2021-2026

15 China Market Size Analysis 2016-2026
15.1 China IoT Managed Services Value and Market Growth 2016-2021
15.2 China IoT Managed Services Sales and Market Growth 2016-2021
15.3 China IoT Managed Services Market Value Forecast 2021-2026

16 Japan Market Size Analysis 2016-2026
16.1 Japan IoT Managed Services Value and Market Growth 2016-2021
16.2 Japan IoT Managed Services Sales and Market Growth 2016-2021
16.3 Japan IoT Managed Services Market Value Forecast 2021-2026

17 South Korea Market Size Analysis 2016-2026
17.1 South Korea IoT Managed Services Value and Market Growth 2016-2021
17.2 South Korea IoT Managed Services Sales and Market Growth 2016-2021
17.3 South Korea IoT Managed Services Market Value Forecast 2021-2026

18 Australia Market Size Analysis 2016-2026
18.1 Australia IoT Managed Services Value and Market Growth 2016-2021
18.2 Australia IoT Managed Services Sales and Market Growth 2016-2021
18.3 Australia IoT Managed Services Market Value Forecast 2021-2026

19 Thailand Market Size Analysis 2016-2026
19.1 Thailand IoT Managed Services Value and Market Growth 2016-2021
19.2 Thailand IoT Managed Services Sales and Market Growth 2016-2021
19.3 Thailand IoT Managed Services Market Value Forecast 2021-2026

20 Brazil Market Size Analysis 2016-2026
20.1 Brazil IoT Managed Services Value and Market Growth 2016-2021
20.2 Brazil IoT Managed Services Sales and Market Growth 2016-2021
20.3 Brazil IoT Managed Services Market Value Forecast 2021-2026

21 Argentina Market Size Analysis 2016-2026
21.1 Argentina IoT Managed Services Value and Market Growth 2016-2021
21.2 Argentina IoT Managed Services Sales and Market Growth 2016-2021
21.3 Argentina IoT Managed Services Market Value Forecast 2021-2026

22 Chile Market Size Analysis 2016-2026
22.1 Chile IoT Managed Services Value and Market Growth 2016-2021
22.2 Chile IoT Managed Services Sales and Market Growth 2016-2021
22.3 Chile IoT Managed Services Market Value Forecast 2021-2026

23 South Africa Market Size Analysis 2016-2026
23.1 South Africa IoT Managed Services Value and Market Growth 2016-2021
23.2 South Africa IoT Managed Services Sales and Market Growth 2016-2021
23.3 South Africa IoT Managed Services Market Value Forecast 2021-2026

24 Egypt Market Size Analysis 2016-2026
24.1 Egypt IoT Managed Services Value and Market Growth 2016-2021
24.2 Egypt IoT Managed Services Sales and Market Growth 2016-2021
24.3 Egypt IoT Managed Services Market Value Forecast 2021-2026

25 UAE Market Size Analysis 2016-2026
25.1 UAE IoT Managed Services Value and Market Growth 2016-2021
25.2 UAE IoT Managed Services Sales and Market Growth 2016-2021
25.3 UAE IoT Managed Services Market Value Forecast 2021-2026

26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia IoT Managed Services Value and Market Growth 2016-2021
26.2 Saudi Arabia IoT Managed Services Sales and Market Growth 2016-2021
26.3 Saudi Arabia IoT Managed Services Market Value Forecast 2021-2026

27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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