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 2024-2031

Global IoT Managed Services Market size was valued at USD 24.81 billion in 2022 and is poised to grow from USD 28.67 billion in 2023 to USD 91.25 billion by 2031, growing at a CAGR of 15.57% during the forecast period (2024-2031).

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.