IoT Managed Services Market Outlook to 2027 - Cisco Systems, Cognizant, Google, Harman International, HCL Technologies, IBM Corporation, Infosys, Microsoft

The Global IoT Managed Services Market was valued at US$ 30.2 Bn in 2018 and is anticipated to grow at a CAGR of 18.5% to account for US$ 135.0 Bn by 2027.

Factors such as increasing adoption of connected devices, smart homes, and smart cities are the key factors driving the global IoT managed services market. Also, the Asia-Pacific region is anticipated to provide numerous profitable opportunities for the market players operating in the IoT managed services market in the coming years.

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. For instance, Microsoft offers Azure cloud platform to enable industrial IoT centric device management. To tap the market vendors are highly focused on offering unique services such as smart enterprise control, smart factory and business interconnect services, asset performance management, and others.

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Company Profiles
Cisco Systems
Cognizant
Google
Harman International
HCL Technologies
IBM Corporation
Infosys
Microsoft
Tata Consultancy Services

Currently, the government, manufacturing, and transport & logistics collectively accounted for almost half of the global IoT managed services market by end-use in 2018. Moreover, the transport & logistics market for IoT managed services is expected to grow with a CAGR of 20.9% during the forecast period of 2019 – 2027.

IoT Managed service providers are integrating new technologies to gain more intelligent insights about the behavior of malware and other threats. Few vendors have network sandboxing technology with its services to gain access to the behavior of malicious activities in a virtual environment. Network sandboxing technology generates huge volumes of reporting information than traditional tools. Advanced automated security event and log correlation rules are applied to filter out the false positives. The real threats are then analyzed using managed security services technology to understand the behavior and business impact of reaming positive threats. A detailed incident report is generated with specific remediation recommendations. This helps service providers to focus on their resources to true incidents rather than on false incidents. Security management services in IoT managed services market are expected to be the fastest growing segment during the forecast period.

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GLOBAL IOT MANAGED SERVICES - MARKET SEGMENTATION

By SERVICE
Device Management Services
Data Management Services
Network Management Services
Security Management Services

By End-Use
Government
Manufacturing
Transportation & Logistics
Energy & Utilities
Smart Building & Home
IT & Telecom
Healthcare
BFSI
Retail

Exhibit: IoT Managed Services Market by Region
Strategic Insights

The partnership was observed as the most adopted strategy in global IoT managed services market. Few of the recent strategies by some of the players are listed below:

2018: Cisco entered into the partnership with MTN to offer IoT services in South Africa with Cisco’s Jasper Control Center automated IoT connectivity platform. With collaboration with MTN, Cisco offered business customers with the launch, manage, and monetize IoT services.

2018: Infosys entered into the collaboration with PTC for the launch of joint CoE at Infosys campus in India. CoE will be focusing on the vertical specific IoT solutions with PTC ThingWorx industrial innovation platform.

2018: Wipro entered into the partnership with JCB India Ltd., a leading construction equipment manufacturer to deploy IoT to 10,000s construction equipment machine of JCB. Wipro’s IoT solution allows JCB to remotely monitor the health and performance of machines in the field.

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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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