IoT Managed Services Market Trends, Growth Analysis to 2027

IoT Managed Services Market to 2027 - Global Analysis and Forecasts by Service (Device Management Services, Data Management Services, Network Management Services, and Security Management Services); by End-Use (Government, Manufacturing, Transportation & Logistics, Energy & Utilities, Smart Building & Home, IT & Telecom, Healthcare, BFSI, and Retail)

Publication Month : Feb 2019

  • Report Code : TIPTE100000445
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 140
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The IoT managed services market on a global scenario was valued at US$ 30.2 Bn in 2018 and is expected to grow at a CAGR of 18.5% during the forecast period 2019 – 2027, to account to US$ 135.0 Bn by 2027.


Factors such as increasing pace of smart infrastructure development, growing number of connected devices, and increasing investments for the improvement in telecommunication is expected to be the major market driving forces in the coming years. As a result, the Asia-Pacific, South America and MEA region is anticipated to drive the market growth of IoT managed services market in the coming years. Moreover, the growing popularity of smart cities concepts and emphasis towards improving vehicle mobility especially among densely populated cities is projected to drive the market growth among developed economies.

The global IoT managed services market is witnessing a high growth due to the factors such as increasing adoption of IoT across the industry, penetrating smartphones, increasing cyber-attacks, and others. The Asia Pacific region is holding the prominent market share of global IoT managed services market and are expected to witness high Y-o-Y growth during the forecast period. This growth is attributed to the increasing industrialization in developing countries such as China and India.

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IoT Managed Services Market: Strategic Insights

iot-managed-services-market
Market Size Value inUS$ 30.2 Billion in 2018
Market Size Value byUS$ 135.0 Billion by 2027
Growth rateCAGR of 18.5% from 2019-2027
Forecast Period2019-2027
Base Year2019
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The rapid urbanization in countries such as Brazil, South Africa, and others are expected to create a significant demand for IoT managed services during the forecast period. The continuous improvement in cloud technology and increasing government investments in telecommunication is one of the prominent factor the surging demand for IoT and IoT services. Moreover, the government projects such as smart cities are a key driver for IoT managed services market and are expected to have a positive impact on the growth of global IoT managed services market.

The increasing cyber-attacks and the rising concern for the data and device protection are creating a huge demand for security management services. Vendors are highly focused on offering end-to-end device security and management services to its customers. Vendors are also focusing on multiple partnerships to strengthen its services portfolio and to expand its business in emerging markets. The market for IoT managed services market is expected to witness numerous mergers and acquisitions among leading vendors to upgrade its service offerings during the forecast period..

Lucrative Regions for IoT managed services Market

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Market Insights

APAC is expected to have the highest incremental opportunity during the forecast period

The rapid urbanization and increasing adoption of IoT in various industries are fuelling the demand for IoT managed services market in Asia Pacific countries. The Asia Pacific countries are witnessing a huge demand for managed security services due to the increasing cyber-attacks. Various countries are implementing regulations and standards to secure connected devices. The rapid implementation of smart cities in countries such as India and China is another potential factor deriving the demand for managed IoT services. Moreover, the roll-out of the 4G/LTE network is having a significant positive impact on the IoT demand and are significantly driving the Asia Pacific IoT managed services market.

Services Market Insights

The IoT managed services include the services provided by the third party for the management of IoT devices and infrastructure. IoT managed services market is segmented based on the application of IoT managed services, i.e. service provided by vendors for network management, device management, data management, and security management. Due to the high need for efficient management of the network, network management services have a high market share in the global IoT managed services market. With the increasing threats for cyber-attacks, the security management services are expected to witness high Y-o-Y growth during the forecast period. Vendors of IoT managed service providers are highly focused on providing advanced security services to its customer to fulfil the market demand.

IoT Managed Services Market, by services – 2018 and 2027

IoT Managed Services Market, by services – 2018 and 2027
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End-Use Market Insight

IoT managed services is witnessing a massive demand from sectors such as manufacturing, government, transportation & logistics, smart building & home, retail, healthcare, and others. The emerging trend of smart cities and smart building are creating a huge demand for IoT managed services. The rapid urbanization and industrialization are expected to fuel the global IoT managed services market globally. The increasing adoption of IoT in healthcare and energy & Utility are expected to have a significant impact on the growth of global IoT managed services market, globally.

Global IoT Managed Services Segments:

IoT Managed Services Market – By Services

  • Device Management Services
  • Data Management Services
  • Network Management Services
  • Security Management Services

IoT Managed Services Market – By End-Use

  • Government (Smart Cities, Airports, Railways, Metros)
  • Manufacturing
  • Transportation & Logistics
  • Energy & Utilities
  • Smart Building & Home
  • IT & Telecom
  • Healthcare
  • BFSI
  • Retail

IoT Managed Services Market – By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)

    • Australia
    • China
    • India
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Rest of SAM

Companies

  • CISCO SYSTEMS, INC.
  • Cognizant
  • GOOGLE, INC
  • HARMAN International
  • HCL Technologies Limited
  • IBM Corporation
  • Infosys Limited
  • Microsoft
  • Tata Consultancy Services Limited
  • Wipro Limited
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Service ; by End-Use

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies - IoT Managed Services Market 

  1. Cisco Systems Inc.
  2. Cognizant
  3. Google Inc.
  4. Harman International
  5. HCL Technologies Limited
  6. IBM Corporation
  7. Infosys Limited
  8. Microsoft
  9. Tata Consultancy Services Limited
  10. Wipro Limited

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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