The global market for Internet of Things (IoT) Managed Services was estimated at US$166.3 Billion in 2023 and is projected to reach US$785.8 Billion by 2030, growing at a CAGR of 24.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global Internet of Things (IoT) Managed Services Market - Key Trends and Drivers Summarized
How Are Internet of Things (IoT) Managed Services Shaping Enterprise Digital Transformation?
The Internet of Things (IoT) managed services are critical in enabling businesses to manage, deploy, and maintain IoT ecosystems efficiently. As organizations adopt IoT technologies to enhance their operations, the complexity of managing connected devices, data streams, and networks grows significantly. IoT managed services offer comprehensive support, including device management, network monitoring, data security, and analytics, allowing businesses to focus on their core operations. These services are particularly beneficial for enterprises that lack the technical expertise or resources to maintain their own IoT infrastructure. By outsourcing management to specialized providers, companies can optimize their IoT systems and ensure seamless operations, driving cost efficiency and scalability.What Technological Innovations Are Fueling IoT Managed Services?
Technological advancements in cloud computing, edge computing, and artificial intelligence (AI) are transforming IoT managed services. Cloud platforms enable centralized management of IoT devices, offering scalability and flexibility to enterprises across various industries. Edge computing is playing a critical role by bringing data processing closer to the source, reducing latency and improving real-time decision-making capabilities. AI and machine learning are being integrated into managed services to analyze data streams in real time, detect anomalies, and automate responses, further improving the efficiency and reliability of IoT ecosystems. These innovations are enabling service providers to offer more sophisticated solutions that meet the evolving needs of businesses across sectors.How Do Market Segments Define the Growth of IoT Managed Services?
Service types include infrastructure management, security management, network & data management, and analytics, with security management emerging as the fastest-growing segment due to rising concerns over data breaches and cybersecurity threats. Applications span across smart cities, industrial automation, healthcare, and retail, with industrial automation leading the market as manufacturers seek to optimize operations through IoT-driven solutions. End-users include large enterprises, small and medium-sized businesses (SMBs), and governments, with large enterprises adopting IoT managed services to manage vast IoT ecosystems. The market is experiencing rapid growth in regions such as North America and Europe, where digital transformation and IoT adoption are advanced, and is expanding in Asia-Pacific, driven by industrial automation and smart city initiatives.What Factors Are Driving the Growth in the IoT Managed Services Market?
The growth in the IoT managed services market is driven by several factors, including the increasing complexity of IoT networks, the rising demand for real-time data processing, and advancements in cloud and edge computing technologies. As IoT ecosystems grow, businesses are turning to managed service providers to handle the complexities of device management, network monitoring, and data security. The integration of AI and automation into managed services is also driving growth by enabling more efficient and proactive management of IoT infrastructures. Additionally, the growing focus on cybersecurity and the need to protect IoT devices and data from potential threats are pushing organizations to adopt managed security services, further fueling market expansion.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Network Management segment, which is expected to reach US$349.8 Billion by 2030 with a CAGR of a 26.7%. The Security Management segment is also set to grow at 25.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $48.0 Billion in 2023, and China, forecasted to grow at an impressive 24.0% CAGR to reach $118.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Internet of Things (IoT) Managed Services Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Internet of Things (IoT) Managed Services Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Internet of Things (IoT) Managed Services Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Internet of Things (IoT) Managed Services market such as Aricent Inc., Cisco Systems, Inc., Cognizant Technology Solutions Corporation, Futurism Technologies Pvt. Ltd., Happiest Minds Technologies and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 37 companies featured in this Internet of Things (IoT) Managed Services market report include:
- Aricent Inc.
- Cisco Systems, Inc.
- Cognizant Technology Solutions Corporation
- Futurism Technologies Pvt. Ltd.
- Happiest Minds Technologies
- Harman International Industries, Inc.
- HCL Technologies Limited
- Ilink Systems Inc.
- Infosys Limited
- Key Innovators
- Scalable Systems, Inc.
- Tata Consultancy Services
- Tech Mahindra Limited
- Tieto Corporation
- Trustwave Holdings, Inc.
- Virtusa Corporation
- Wipro Limited
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- Aricent Inc.
- Cisco Systems, Inc.
- Cognizant Technology Solutions Corporation
- Futurism Technologies Pvt. Ltd.
- Happiest Minds Technologies
- Harman International Industries, Inc.
- HCL Technologies Limited
- Ilink Systems Inc.
- Infosys Limited
- Key Innovators
- Scalable Systems, Inc.
- Tata Consultancy Services
- Tech Mahindra Limited
- Tieto Corporation
- Trustwave Holdings, Inc.
- Virtusa Corporation
- Wipro Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 93 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 166.3 Billion |
| Forecasted Market Value ( USD | $ 785.8 Billion |
| Compound Annual Growth Rate | 24.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
