IoT Managed Services Market Size USD 167.67 billion | Veolia, SUEZ Group, MVV Energie AG, Viridor
Kings Research™ presents this information in its report titled, “IoT Managed Services Market Size, Share & Industry Analysis, by Service (Device management services, Data management services, Network management services, Security management services and Others), Vertical (Manufacturing, BFSI, Healthcare, Transportation, Energy & Utilities, IT & Telecommunications, Retail and Others) and by Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022-2030"
IoT Managed Services Market size was worth around USD 48.35 billion in 2021 and is predicted to grow around USD 167.67 billion by 2030 with a compound annual growth rate of roughly 16.8% between 2022 and 2030. The report analyzes the global IoT managed services market's drivers, restraints/challenges, and their effect on the demands during the projection period.
Competitive Landscapes:
IBM Corporation, Wipro, Cognizant Technology Solutions Corporation, Tata Consultancy Services, Tietoevry, Virtusa Corporation, Infosys Ltd., Verizon, Tech Mahindra Ltd., HCL Technologies Limited, Cisco Systems Inc., Aricent Inc., Stefanini, amongst others.
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Key services within this market include network management, device management, data analytics, and security management. As IoT devices continue to proliferate across sectors such as manufacturing, healthcare, transportation, and retail, the need for effective management services is more critical than ever. Managed IoT services ensure that organizations can scale their IoT deployments while maintaining data integrity, security, and real-time analytics capabilities.
Increasing Cyber Attacks Surging Demand for IoT Managed Services
Security management services are in high demand as a result of the proliferation of cyberattacks and growing concern for data and device safety.
One of the major trends in this market is the growing demand for cloud-based IoT management solutions. Cloud-based services provide flexibility, scalability, and cost-efficiency, allowing businesses to manage vast IoT networks with minimal on-premises infrastructure. This has been further fueled by the increasing adoption of 5G technology, which enhances IoT connectivity and enables more robust data transmission and device interaction.
Industries such as manufacturing are particularly reliant on IoT managed services, leveraging them to optimize production lines, manage supply chains, and reduce downtime through predictive maintenance. Similarly, the healthcare sector is using IoT services to manage connected medical devices, track patient data, and improve operational efficiency.
From a geographical standpoint, North America remains a dominant player in the IoT managed services market due to its advanced technological infrastructure and early adoption of IoT solutions. However, the Asia-Pacific region is expected to witness the fastest growth due to rapid digital transformation and the expansion of smart cities and industrial automation.
The competitive landscape of the IoT managed services market is highly fragmented, with key players like Verizon, Ericsson, and AWS offering tailored solutions to various industries. These companies are focusing on partnerships, mergers, and innovation to strengthen their positions in the market. For example, partnerships between service providers and technology companies are driving advancements in AI and machine learning to enhance IoT data management and security.
Overall, the IoT Managed Services Market is set for robust growth, with increased demand from industries seeking to optimize their IoT deployments and a growing emphasis on data security and real-time analytics
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