The global IoT managed services market is expected to grow from $47.80 billion in 2021 to $61.46 billion in 2022 at a compound annual growth rate (CAGR) of 28.57%. The IoT managed services market is expected to reach $162.12 billion in 2026 at a compound annual growth rate (CAGR) of 27.44%.
North America was the largest region in the IoT managed services market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT managed services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing use of IoT managed services solutions in the automotive, electronic goods, and information and telecommunications industries will propel the growth of the IoT managed services market. The primary factors boosting the IoT managed services are the present long-term evolution (LTE) deployment and technical developments in numerous areas. IoT-managed services are widely used in the automotive, consumer electronics, and telecom industries.
For instance, in 2020, 91% of the cars sold in the US were IoT-connected which is 13 million IoT-connected vehicles and is expected to reach 115 million by 2025. The IoT in the cars can predict car maintenance by collecting data from sensors, assessing any issues, communicating the information through the cloud, and then informing the driver. The predictive analysis of car maintenance increases the use of IoT in automotive. Therefore, the increasing use of IoT managed services solutions in the automotive, electronic goods, and information and telecommunications industries will drive the growth of the IoT managed services market.
Technological advancements are a key trend gaining popularity in the IoT managed services market. Modern cloud-based technology has helped IoT-managed services companies ensure data is backed up and protected in a secure and safe location. Cloud-based services for connecting, monitoring, and managing IoT devices are presented. Cloud providers provide IoT services that combine required features into a complete solution that includes connectivity between devices and the cloud, data processing from devices, and interaction with connected devices via the application.
For instance, in May 2019, Integrated Telecom Company, a telecom provider, introduced a new suite of Managed Security Services (MSS) to assist organizations with monitoring, threat detection, incident handling, and ongoing cybersecurity risk management. These MSS services offer proactive and comprehensive security monitoring of network devices, endpoints, cloud, and SAAS environments.
Reasons to Purchase
Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
Assessment of Russia - War Impact on agriculture, energy and mineral commodities supply and their direct and indirect impact on the market analyzed in the report.
Impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market research findings.
Benchmark performance against key competitors.
Utilize the relationships between key data sets for superior strategizing.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Report Attribute
Details
No. of Pages
175
Forecast Period
2022 - 2026
Estimated Market Value (USD) in 2022
$61.46 billion
Forecasted Market Value (USD) by 2026
$162.12 billion
Compound Annual Growth Rate
27.4%
Regions Covered
Global
Scope Markets Covered:
1) By Service Type: Infrastructure Management Services; Security Management Services; Network Management Services; Data Management Services; Device Management Services 2) By End-Users: Automotive And Transport; Information Technology And Telecom; Healthcare; Banking, Financial Services, And Insurance (BFSI); Manufacturing; Other End-Users 3) By Organization Size: Small And Medium Enterprises; Large Enterprises
Key Topics Covered:
1. Executive Summary
2. IoT Managed Services Market Characteristics
3. IoT Managed Services Market Trends And Strategies
