Global Internet of Things Managed Services Market (2020 to 2025) - Growth, Trends, and Forecast - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Internet of Things (IoT) Managed Services Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The internet of things (IoT) managed services market was valued at USD 46.53 billion in 2019, and it is expected to reach a value of USD 158.75 billion by 2025 at a CAGR of 27.82%, during the forecast period (2020 - 2025).

The rise in the application of multi-cloud, automation, and increased demand for IoT in industrial space is augmenting the demand for IoT managed services across the globe.

Companies Mentioned

• Wipro Ltd.
• Cognizant Technology Solutions Corp.
• Cisco Systems Inc.
• Tata Consultancy Services
• Tech Mahindra Ltd.
• Tieto Corporation
• Virtusa Corporation
• Infosys Ltd.
• HCL Technologies Ltd.
• Aricent Inc.

Key Market Trends

Manufacturing Sector to Hold a Significant Market Share

• Industry 4.0 is transforming industries, from having legacy systems to smart components and smart machines, to facilitate digital factories and development of an ecosystem of connected plants and enterprises. Industry 4.0 has persuaded OEMs to adopt IoT across their operations. Anticipating the increased adoption of IoT and digital transformation across industries, the European Commission estimated that the value of IoT in Europe itself is expected to exceed EUR 1 trillion in 2020.
• Maryville University estimates that by 2025 over 180 trillion gigabytes of data will be created worldwide every year. A large portion of this will be generated by IIoT-enabled industries. A survey by Industrial IoT (IIoT) giant Microsoft found that 85% of companies have at least one IIoT use case project. This number will increase, as 94% of respondents said they would implement IIoT strategies by 2021.
• The benefits offered by IoT in the manufacturing industry are driving the adoption rates, benefits such as increased machine utilization, predictive maintenance and production, data analytics, monitoring, automation, and cost benefits.
• According to the Information Technology and Innovation Foundation (ITIF), IoT applications for monitoring machine utilization can increase manufacturing productivity by 10% to 25%. %. BC Machining LLC, a metal parts manufacturer, onboarded a machine utilization monitoring solution that helps it to improve productivity and optimize the utilization of computer numerical control (CNC) machines. IIoT solutions capture real-time data from equipment sensors to provide reports on the machines' cycle times, downtime, and other parameters.

Asia-Pacific is Expected to Witness the Highest Growth Rate

• As the Asia-Pacific region is developing, it holds major expansion potential, owing to the booming commercial sectors, like healthcare, safety and security, manufacturing, energy, and agriculture. This is enabling the IoT market to grow at a faster rate.
• Due to integration of blockchain and cryptographic processes across IoT security services, IoT offers centralized management of network and associated data, thereby reducing the business vulnerabilities and security concerns, as well as fueling the IoT in the engineering services market in this region.
• The countries, such as India, Japan, China, Australia, and South Korea, are the major contributors to the Asia-Pacific market, and the growing smart city implementation in this region is presenting the market with varied potential growth opportunities.
• Moreover, growing government initiatives to encourage healthcare providers and other healthcare organizations to adopt EHR and EMR technologies and aggressive investments from nonprofit entities and private sectors in different applications are some of the factors expected to drive IoT managed services market in the Asia-Pacific region.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Introduction to Market Drivers and Restraints

4.2 Market Drivers

4.2.1 Consumer propensity Towards Managed Cloud Services

4.2.2 Growing Adoption of IoT from Industries

4.3 Market Restraints

4.3.1 IoT Complexities Combined with Security Concerns

4.4 Industry Attractiveness - Porter's Five Force Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

4.5 Industry Value Chain Analysis

4.6 Industry Policies

4.7 Impact of COVID-19 on the Market

5 MARKET SEGMENTATION

5.1 By Application

5.1.1 Network Management

5.1.2 Device Management

5.1.3 Data Management

5.1.4 Security Management

5.1.5 Other Applications

5.2 By End-user

5.2.1 Energy and Utilities

5.2.2 Manufacturing

5.2.3 Healthcare

5.2.4 BFSI

5.2.5 Retail

5.2.6 IT & Telecom

5.2.7 Other End-users

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 Latin America

5.3.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/njyp23