Global Iot Managed Services Market Forecast 2017-2025
KEY FINDINGS The global IOT managed services market is anticipated to grow with a CAGR of 21.98% for the forecast period of 2017-2025. The key market drivers for IoT managed services include the need for cost-efficient managed services, growing number of machine-to-machine connections and increased spending on cloud infrastructure and cloud services. Of these, the most significant factor is the growing number of machine-to-machine connections as they enable various electronic and mechanical machines to communicate independently with other machines and with each other.
MARKET INSIGHTS The global IOT managed services market is segmented on the basis of organization size, end-user, and service. The organization size can be further segmented into large enterprise and SME’s. The end-users for the market include healthcare, automotive & transport, IT & telecom, manufacturing, BFSI, and others. The service segment for the market includes security management, network management, infrastructure management, device management, and other services.
REGIONAL INSIGHTS The global IoT managed services market is spread over North America, Europe, Asia Pacific and the Rest of World. The Asia Pacific region is predicted to exhibit potential growth over the forecast period with countries like India, Japan, China, and Korea, being its leading contributors. The North American region accounted for the largest share in the year 2016, due to factors like excellent start-up culture, increasing innovation in the IOT technology, and increasing encouragement by the government for investments.
COMPETITIVE INSIGHTS Some of the leading players in the global IoT managed services market are Cisco Systems Inc, Accenture Plc, At&T Google Inc, Qualcomm Incorporated, Oracle Corporation, IBM, Microsoft Corporation, Intel Security Group Hewlett Packard Enterprise Co, Apple, Inc. (U.S.), Huawei Technologies and SAP.