USD 24.81 billion
IoT Managed Services Market Size, Share, Growth Analysis, By Service Type(Connectivity Management Services, Device Management Services, Data Management Services, Security Management Services), By Verticals(Manufacturing, Healthcare, Retail, Transportation and Logistics), By Deployment Model(Cloud-based IoT Managed Services, On-premises IoT Managed Services, Hybrid IoT Managed Services), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45A2202 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
97
|Figures:
76
IoT Managed Services Market Insights
IoT Managed Services Market size was valued at USD 28.67 Billion in 2023 and is poised to grow from USD 33.13 Billion in 2024 to USD 105.46 Billion by 2032, growing at a CAGR of 15.57% during the forecast period (2025-2032).
The global IoT Managed Services marketplace has been experiencing regular growth driven by using the increasing adoption of IoT (Internet of Things) solutions across diverse industries. Organizations are leveraging IoT era to beautify operational performance, improve choice-making methods, and gain a competitive facet. Industries together with manufacturing, healthcare, logistics, and clever towns have embraced IoT to optimize techniques and allow revolutionary answers. The demand for managed services is rising as agencies are trying to find external knowledge to control their complex IoT ecosystems.
Additionally, corporations are searching out scalable and flexible IoT answers which can adapt to their evolving desires. Managed offerings offer a cost-powerful way to scale IoT infrastructure with out the load of maintaining in-residence resources. The IoT ecosystem entails collaboration among numerous stakeholders. Managed service carriers are forming strategic partnerships with hardware manufacturers, software program builders, and connectivity companies to provide stop-to-give up solutions.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Connectivity Management Services
Fastest Growth
Security Management Services
Growth Rate
15.57% CAGR
Global IoT Managed Services Market ($ Bn)
Country Share for North America Region (%)
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IoT Managed Services Market Segmental Analysis
The global IoT Managed Services market is segmented into four major segments i.e. by Service Type, Verticals, Deployment Model, and region. Based on Type, it is divided into Connectivity Management Services, Device Management Services, Security Management Services, Network Management Services. Based on Vertical, it is bifurcated as Manufacturing, Healthcare, Retail, Transportation and Logistics, Energy and Utilities, Smart Cities, Agriculture, Others. Based on Deployment Model it is segregated into, Cloud-based IoT Managed Services, On-premises IoT Managed Services, Hybrid IoT Managed Services. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Analysis by Service
Connectivity Management Services have commonly held a considerable market proportion as the range of linked gadgets continues to grow, handling and optimizing connectivity becomes important for seamless facts transfer and conversation. Connectivity management offerings are crucial for ensuring that IoT gadgets can talk throughout diverse networks and geographical places, making it a fundamental component of IoT deployments.
Due the proliferation of IoT devices, cybersecurity threats and vulnerabilities are on the rise. Security management offerings will experience widespread boom as groups prioritize defensive their IoT ecosystems from cyber-attacks. Stringent facts safety rules and compliance necessities are using the demand for robust security measures. Security management offerings play a crucial role in ensuring facts integrity and protecting sensitive statistics.
Analysis by Applications
IIoT packages make a contribution drastically to operational efficiency in manufacturing, supply chain control, and other industrial techniques. The potential to screen and optimize tactics in actual-time is a key driving force. IIoT facilitates lessen operational charges through predictive maintenance, asset tracking, and aid optimization, making it a vital vertical for businesses trying to beautify their bottom line.
The healthcare industry is witnessing a surge in demand for far flung patient tracking answers, contributing to the growth of IoT controlled offerings. Monitoring sufferers remotely improves healthcare results and decreases health facility readmissions. IoT in healthcare allows the gathering of actual-time affected person statistics, facilitating records-pushed selection-making. This is mainly treasured for personalised remedy and enhancing typical patient care.
Global IoT Managed Services Market By Solution
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IoT Managed Services Market Regional Insights
North America, in particular the US, has been at the leading edge of technological innovation. The area has a sturdy ecosystem of IoT solution carriers, controlled provider carriers, and technology-driven establishments. The industries, which include manufacturing, healthcare, and Smart cities, had been early adopters of IoT technology. The call for for controlled services to optimize and stable those IoT deployments contributes to the dominance of the place.
The Asia-Pacific area, with international locations inclusive of China, India, and Japan, is experiencing fast industrialization. Industries are an increasing number of adopting IoT answers for operational efficiency, developing a developing demand for controlled offerings. The massive populace in Asia-Pacific, coupled with ongoing urbanization, fuels the need for smart City solutions and infrastructure, using the growth of IoT deployments and managed offerings.
Global IoT Managed Services Market By Region
- Largest
- Fastest
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IoT Managed Services Market Dynamics
Drivers
Increasing Adoption Of Iot Solutions Across Diverse Industries
- The increasing adoption of IoT solutions throughout various industries, ranging from production and healthcare to smart city and agriculture. This good sized integration of IoT technology necessitates professional control to optimize connectivity, device functionality, and data managing. Additionally, the rising complexity of IoT ecosystems and the surge in related devices gas the demand for specialized managed offerings.
Restraints
High Challenge Associated With Ensuring The Seamless Integration Of Diverse Iot Devices
- One of the main marketplace restraints is the mission associated with ensuring the seamless integration of diverse IoT gadgets and platforms. The heterogeneity of IoT ecosystems, characterised by using specific requirements and protocols, poses interoperability challenges, hindering the clean operation of managed offerings. Another restraint is the ability for accelerated cybersecurity threats, given the increasing assault floor presented by means of a developing number of linked gadgets.
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IoT Managed Services Market Competitive Landscape
The aggressive environment of the IoT Managed Services market is dynamic and is characterised through a dynamic interplay amongst diverse gamers, each vying to set up a sizable market presence. Telecom and IT carrier providers regularly leverage their giant network infrastructure to provide comprehensive connectivity answers, even as device integrators consciousness on seamlessly integrating IoT technology into existing structures.
Top Player’s Company Profiles
- Vodafone Business
- Huawei Technologies Co. Ltd.
- Deutsche Telekom
- Orange Business Services
- NTT DATA Group
- Capgemini
- Tech Mahindra Limited
- Infosys Limited
- Wipro Limited
- Cognizant Technology Solutions Corp
- HCL Technologies Ltd
- Cisco Systems Inc
- Tata Consultancy Services
- Tieto Corporation
- Virtusa Corporation
- Aricent Inc
- Accenture
- IBM Services
- AT&T
- Verizon Business
Recent Developments
- November 2023: AddSecure Group has completed the purchase of DigiComm Group, a issuer corporation that deals in Industrial Internet of Things (IIoT)
- October 2023: KORE Group Holdings, Inc. (NYSE: KORE (KORE WS), the global IoT hyperscaler and ecosystem for IoT Connectivity, Solutions and Analytics has now finalised its acquisition of Twilio’s (NYSE: TWLO) social media major unit.
IoT Managed Services Key Market Trends
- Rising Emphasis On Edge Computing Integration Within Iot Managed Services: The greater focus on part computing integration within the provisions of IoT controlled profferings. As the records generated thru IoT gadgets expand, groups are pushing element computing to procedure information proper at the supply with a purpose to lessen latency and enhance real-time choice making guides. The emerging reputation on AI and device learning kits in IoT controlled services is another considerable fashion.
IoT Managed Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global IoT Managed Services marketplace analysis famous a dynamic market with a number of standout trends and problems. The market is propelled by way of the increasing adoption of IoT answers across industries, improving operational performance. However, interoperability demanding situations and cybersecurity threats act as restraints. In terms of product sorts, connectivity control offerings dominate, making sure seamless records transfer. Regionally, North America leads because of technological leadership, at the same time as the Asia-Pacific location studies the quickest growth, pushed by rapid industrialization. Key developments include the integration of aspect computing, the upward push of 5G connectivity, and a shift closer to final results-primarily based offerings, reflecting the continuous evolution of IoT managed services in meeting numerous enterprise needs.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 24.81 billion |
| Market size value in 2031 | USD 91.25 billion |
| Growth Rate | 15.57% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on IoT Managed Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on IoT Managed Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the IoT Managed Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the IoT Managed Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the IoT Managed Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the IoT Managed Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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