Global Internet of Things (IoT) Managed Services Market Size study & Forecast, by Service Type (Security Management Services, Network Management Services), Deployment Mode (On-Premises, Cloud-Based), Organization Size, End-Use Industry and Regional Foreca

The Global Internet of Things (IoT) Managed Services Market is valued at approximately USD 195.32 billion in 2024 and is anticipated to grow at a remarkable CAGR of 16.00% during the forecast period 2025–2035. IoT managed services represent a suite of end-to-end outsourced solutions that help enterprises monitor, manage, and secure their interconnected devices, networks, and data-driven ecosystems. By leveraging these services, organizations can focus on their core competencies while offloading the technical complexities of maintaining IoT infrastructures. The market growth is largely attributed to the accelerating digital transformation across industries, the mounting need for connected intelligence, and the push toward efficiency-driven operations. In addition, the growing awareness of data security and regulatory compliance has fueled the adoption of managed services in mission-critical IoT applications.

The increasing proliferation of IoT-enabled devices across industries has propelled demand for scalable and secure managed services. As companies strive to handle vast volumes of data generated from connected endpoints, outsourcing IoT management ensures improved system reliability, reduced downtime, and operational cost efficiency. According to recent industry assessments, more than 30 billion connected devices are expected to be deployed globally by the end of the decade, underscoring the indispensable role of managed services in ensuring seamless functionality. Moreover, the integration of artificial intelligence and analytics into IoT managed platforms is opening new avenues for predictive maintenance, enhanced decision-making, and automated business processes. However, challenges such as vendor dependency and data privacy concerns may restrain adoption in certain segments over the forecast horizon.

The detailed segments and sub-segments included in the report are:

By Service Type
• Security Management Services
• Network Management Services

By Deployment Mode
• On-Premises
• Cloud-Based

By Organization Size
• Small & Medium Enterprises (SMEs)
• Large Enterprises

By End-Use Industry
• BFSI
• Healthcare
• Manufacturing
• IT & Telecom
• Energy & Utilities
• Retail & Consumer Goods
• Transportation & Logistics
• Others

By Region

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Among all segments, cloud-based deployment is projected to dominate the market over the forecast period. Organizations are increasingly migrating toward cloud environments to harness scalability, flexibility, and cost-effectiveness while reducing the complexities associated with on-premises infrastructures. The cloud model not only facilitates faster rollouts of IoT applications but also enables real-time analytics and multi-device integration, making it the preferred choice for enterprises that prioritize agility and innovation.

In terms of revenue contribution, large enterprises currently hold the leading share of the market. Their sizable IoT ecosystems demand robust, managed solutions that ensure uninterrupted connectivity, enhanced cybersecurity, and compliance with regulatory frameworks. While large organizations dominate in revenue terms, small and medium-sized enterprises (SMEs) are expected to emerge as the fastest-growing adopters. With affordable cloud-based offerings and service models tailored to SMEs, barriers to entry are being lowered, thereby democratizing access to enterprise-grade IoT capabilities.

Regionally, North America dominated the IoT Managed Services Market in 2025. The region’s leadership is underpinned by its advanced technological infrastructure, high IoT penetration across sectors such as manufacturing and healthcare, and strong investments from both private enterprises and government bodies. Moreover, stringent cybersecurity standards in the U.S. and Canada are further driving managed service adoption. Meanwhile, Asia Pacific is projected to be the fastest-growing market, fueled by rapid industrialization, government-led smart city projects, and the sheer scale of IoT device deployment in emerging economies like China and India. Europe also continues to expand steadily, supported by GDPR compliance and a strong emphasis on secure digital ecosystems.

Major market players included in this report are:
• IBM Corporation
• Cisco Systems, Inc.
• Accenture plc
• Microsoft Corporation
• Hewlett Packard Enterprise (HPE)
• Atos SE
• Tech Mahindra Limited
• Tata Consultancy Services Limited
• Cognizant Technology Solutions
• Infosys Limited
• Oracle Corporation
• Siemens AG
• Wipro Limited
• NTT DATA Corporation
• Capgemini SE

Global Internet of Things (IoT) Managed Services Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market.

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