Scope of the Study
The IoT managed services help to combat insufficient experience in evaluating system failure and keeping all the integrated components intact. It is a portfolio of services and capabilities that help in managing the entire IoT environment. Also, it defines an appropriate strategy for business for digital transformation and empowers the organizations, to bring together, the right mix of IoT products and solutions. The global IoT managed services market is expected to witness a significant growth owing to rising inclination toward cost-effective managed services
The market study is being classified by Type (Security Management Services, Network Management Services, Infrastructure Management Services, Device Management Services and Data Management Services), by Application (Energy and Utilities, IT and Telecom, Manufacturing, Transportation, Retail and Others) and major geographies with country level break-up. According to AMA, the Global IoT Managed Services market is expected to see growth rate of 23.11%
Cisco Systems, Inc. (U.S), Cognizant Technology Solutions Corporation (U.S), HCL Technologies Limited (India), Harman International Industries, Inc. (U.S), Infosys Limited (India), Virtusa Corporation (U.S), Tieto Corporation (Finland), Tata Consultancy Services Limited (India), Tech Mahindra Limited (India) and Wipro Limited (India) are some of the key players profiled in the study.
Research Analyst at AMA predicts that Indian Players will contribute to the maximum growth of Global IoT Managed Services market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global IoT Managed Services market by Type, Application and Region. On the basis of Type, Device Management Services are dominating the market in the year 2018 where as Network Management Services stood as second largest market share.
On the basis of application, Transportation segment is dominating the market in the year 2018 where as IT and Telecom segment stood as second largest market.
On the basis of geography, the market of IoT Managed Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2018. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
- The rising adoption rate of smart technologies in various industries has led the demand for the IoT technologies
- Growing penetration toward cost-effective managed services
- Managed service providers enable operational effectiveness and high-performance work systems in organizations
- Increasing momentum of managed cloud services across the globe
- Inability of managed service providers to cope up with IoT complexities
- Rise of connected devices will generate demand for IoT managed services market
- Frequent revenue opportunity for IoT managed services
- Security threats in the IoT environment
- Managed service providers are using legacy support process for service delivery
On 4 Oct 2018, Cognizant announced it has entered into a definitive agreement to acquire Softvision, LLC, a privately-held digital engineering and consulting company focused on agile development of innovative software solutions and platforms. and On 1 March 2017, Cognizant announced the acquisition of Brilliant Service Co. Ltd., an intelligent products and solutions company headquartered in Osaka, Japan, specializing in digital strategy, product design and engineering, the Internet of Things (IoT), and enterp
Key Target AudienceManaged Service Providers, Cloud Service Providers, IT service providers, Consultants/consultancies/advisory firms, IoT technology vendors, Network management service providers, Support and maintenance service providers, Infrastructure service providers and Government associations
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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