According to a new market research report ”Internet of Things (IoT) Managed ServicesMarket by Service Type (Infrastructure Management, Security Management, NetworkManagement, Data Management, Device Management), Vertical, and Region - GlobalForecast to 2021", published by MarketsandMarkets™, The IoT managedservices market size is expected to grow from USD 21.85 Billion in 2016 to USD79.60 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 29.5% duringthe period 2016–2021.
The major drivers for upsurge in demand for the IoT managedservices market include rising momentum of managed cloud services as industryis transitioning from traditional hosting to cloud hosting. This fuel the riseof Managed Cloud Services. Many organizations are still unware and notsuccessful to exploit the full potential of cloud. So this redirects them tomostly utilize a third party managed cloud service provider for the same.
Browse 36market data tables and 36 figures spread through 112 pages and in-depth TOC on“Internet of Things (IoT) Managed Services Market by Service Type (Infrastructure Management,Security Management, Network Management, Data Management, Device Management),Vertical, and Region - Global Forecast to 2021"
The major vendors covered in the IoT managedservices market for this study include Cisco Systems, Inc. (California, U.S.),Cognizant Technology Solutions Corporation (New Jersey, U.S.), HCL TechnologiesLimited (Uttar Pradesh, India), Harman International Industries, Inc.(Connecticut, U.S.), Infosys Limited (Karnataka, India), Virtusa Corporation (Massachusetts,U.S.), Tieto Corporation(Helsinki, Finland), Tata Consultancy Services Limited(Maharashtra, India), Tech Mahindra Limited (Maharashtra, India), and WiproLimited (Karnataka, India).
Evolution ofIoT technologies and increasing adoption of IoT system for enterprises providelucrative growth opportunities across the globe over the forecast period. Withgrowing emphasis on connected devices, the high demand for new cloud servicesis expected by all organizations. The service provider guide companies increating a new IoT infrastructure to enhance its existing system. It alsoincludes strategy formulation, use case development, roadmap development,technology assessment, and IoT architecture.
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The scope ofthis report covers the IoT managed services market analysis by services type,vertical, and region. The device management services segment is expected togrow at the highest CAGR during the forecast period. Device management services helps to achievebetter data security, perform analyses to gain valuable insights from thegranular data coming out from these services, and ensure a great customerexperience.
The smarttransportation segment is expected to have the largest market share andestimated to grow at the highest CAGR during the forecast period. Smarttransportation is all about integrating advanced technologies with the existingtransportation infrastructure, delivering real-time online information aboutthe traffic flow, tracking of the assets, and passengers/commuters. IoT managedservices help the transportation vendors to manage the monitor the complex IoTecosystem. The increasing requirement for managing analytics, security,devices& sensors, data and high volume networking and increase in theoverall operations and responsiveness drives the smart transportation verticalin IoT managed services market.