IoT Managed Services Global Market - Overview
The global IoT managed services market is showing immense growth; mainly due to the increase in demand for connected devices in automotive, healthcare, retail and transportation sector. Increasing momentum of managed cloud services and declining profits from service revenues shifting the focus towards managed service providers are major factors driving the growth of IoT managed services market. Growing inclination towards cost efficient managed services is further fuelling the growth of IoT managed services market.
Technological advancements have played a major role in the development of IoT managed services. Steep increase in the adoption of IoT managed services across various industry verticals is one major factor driving the growth of Iot Managed Services Market. Cisco Systems Inc., Google Inc., Apple Inc., Intel Corporation, Microsoft Corporation, HPE, and IBM among others are the major investors in the IoT managed services market.
Based on application, smart transportation sub segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing integration of advanced technologies into the existing infrastructure in the transportation sector. Increasing need for managing analytics, security devices and sensors is one major factor driving the market of IoT managed services in the transportation sector. According to a recent study report published by Market Research Future, the global market of IoT managed services is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).
However, inability of managed service providers to cope up with IoT complexities and lack of scalability and flexibility in their service offering are major factors which could cause hindrance in the growth of IoT managed services market.
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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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TABLE OF CONTENTS
1 Market Introduction
1.1 Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Network Solution
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
5 Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
Continued…
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