DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "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" report to their offering.
The Internet of Things (IoT) managed services market size is expected to grow from USD 21.85 Billion in 2016 to USD 79.60 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 29.5% during the period 2016-2021.
The major driver for the increase in the demand for IoT managed services market is the growing momentum of managed cloud services, the as industry is shifting from traditional hosting to cloud hosting. Managed Service Providers (MSPs) offer the organizations the desired level of performance and effectiveness and it aids them to planning of the financial budget.
The scope of this report covers the IoT managed services market analysis by service type, vertical, and region. The device management services segment is expected to grow at the highest CAGR during the forecast period. Device management services help to achieve better data security, perform analyses to gain valuable insights from the granular data coming out from these services, and ensure a great customer experience.
Market Dynamics
Drivers
- Msps Enable Operational Effectiveness And High-Performance Work Systems in Organizations
- Increasing Momentum of Managed Cloud Services
- Declining Profits from Service Revenues Shifting the Focus to Msps
- Growing Inclination Toward Cost-Efficient Managed Services
Restraints
- Inability of Msps to Cope Up With Iot Complexities
- Msps in Iot Space Lack Scalability And Flexibility in Their Service Offerings
Opportunities
- Proliferation of Connected Devices Will Generate Demand for Iot Managed Services
- Recurring Revenue Opportunity for Iot Msps
- Iot Managed Services Experience Enables Msps to Enhance Their Service Offerings Portfolio
Challenges
- Constant Security Threats in the Iot Environment
- Msps Are Using Legacy Support Processes for Service Delivery
- Lack of Long-Term Successful Partnerships Between Msps And Organizations
Companies Mentioned
- Aricent Inc.
- Cisco Systems, Inc.
- Cognizant Technology Solutions Corporation
- Futurism Technologies Pvt. Ltd.
- Happiest Minds Technologies
- Harman International Industries, Inc.
- Hcl Technologies Limited
- Ilink Systems Inc.
- Infosys Limited
- Scalable Systems, Inc.
- Tata Consultancy Services
- Tech Mahindra Limited
- Tieto Corporation
- Trustwave Holdings, Inc.
- Virtusa Corporation
- Wipro Limited
For more information about this report visit http://www.researchandmarkets.com/research/qxmsp4/internet_of
