Internet of Things (IoT) Managed Services Market Forecasts to 2028 - Global Analysis By Type (Infrastructure management service, Security management service, Network management service, Data management service and Device management service), Technology (Radiofrequency Identification, Data Processing and Network Communications), Solution (Real-time Streaming Analytics, Security Solutions and Data Management), Application, End User and By Geography
Estimated Year Value (2022)
US $101.49 BN
Projected Year Value (2028)
US $435.99 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global IoT Managed Services Market is accounted for $101.49 billion in 2022 and is expected to reach $435.99 billion by 2028 growing at a CAGR of 27.5% during the forecast period. IoT managed services are a collection of tools and services that aid in overseeing the entire IoT ecosystem. It outlines a suitable business strategy for digital transformation and gives organizations the power to put together the ideal combination of IoT products and solutions. The main obstacle to a digital transformation for organizations is the complexity of integrating IoT technology with their current legacy systems and processes. IoT-managed services may offer methodical solutions to business problems, increase operational efficiency, and open up new markets through the use of data flowing between connected devices and the electronic core. The four distinct services that make up the Internet of Things managed services sector are device drivers, infrastructure services, data protection control, and network monitoring.
According to the Information Technology and Innovation Foundation (ITIF), IoT applications for monitoring machine utilization can increase manufacturing productivity by 10% to 25%. %. BC.
Increased demands for IoT security
The advanced developed technologies in the market of IoT solutions and services with increased speed and workflow with the internet of things have developed technologies in the IoT fields for information management and data collection. The use of IoT in various engineering companies with increased solutions to problems helps to drive the market for IoT solutions and services with improved security services by developing block chain technology, which helps to prevent the duplication of the data and ensure that the data is securely safe. Improved technology with clouding systems helps to boost the market rate of IoT solutions and services to a greater extent.
Lack of connectivity
An increased market growth rate of IoT solutions and improved services with developed software and increased network connectivity to carry out the workflow to increase productivity and meet market demands for easy data access. A lack of internet connection or network connectivity issues may cause a halt in the workflow, lowering the market growth rate of IoT solutions and services during the forecast period.
Expanded research and development
Continuous research and development with improved developments in IoT solutions and services and increased demands from various industries with increased IoT installation and increased network connectivity may help to drive market growth with increased wireless network connections and embedded systems. As a result, the market for IoT solutions and services will grow during the forecast period.
The rising cost of IoT solutions and services
The global IoT Managed Services market expected to hamper growth during the forecast period. The increased cost of developed technologies in IoT solutions and services may hamper the market due to the rising cost of network connectivity. Reduced demand during the forecast period is one of the major challenges to growing the market rate to a greater extent.
COVID-19 pandemic was spread across the globe in 2020. Impact of COVID-19 on the market of internet of things solutions and services with fewer new developments in the IoT, reduced market demands due to increased rules and regulations imposed, and ceased transportation due to the disease's wide spread, lowering the market rate of IoT solutions and services. The post-pandemic situation, with increased customer demand for installing software and increased connectivity. The government provided funds for the advancement of advanced technologies in IoT solutions and services, as well as the improvement of infrastructure. The key market players are the major players in introducing IoT solutions and services, and enhanced research and development help to grow the market rate to a greater extent.
The data management segment is expected to be the largest during the forecast period
The data management solutions segment accounted for a significant share of the overall revenue, accounting for more than 20.00% of total revenue. The growing use of IoT devices to manage industrial processes and equipment and predict faults and disasters that could disrupt production is primarily responsible for the segment's growth. Because these heavy applications generate a large amount of data, demand for data management solutions has increased significantly, allowing them to dominate the market.
The healthcare segment is expected to have the highest CAGR during the forecast period
The healthcare segment is expected to register the fastest growth rate during the forecast period. The increased use of connected devices to track and monitor patient health allowed the healthcare sector to invest heavily in IoT technology that provides real-time insights. Furthermore, the growing demand for personalized healthcare as well as the growing need for digital transformation across the healthcare vertical are expected to provide numerous growth opportunities to the overall market during the forecasted period.
Region with highest share:
The Asia Pacific region market is estimated to witness a highest share of the global IoT Managed Services market during the forecast period. The market is driven by regional infrastructure advancements and favorable economic conditions. Furthermore, various actions taken by governments in various countries to advance digitalization are expected to provide new growth opportunities for players. The IT industry is shifting from traditional hosting to cloud hosting. This fuels the growth of managed cloud services in China, which drives the market for wireless networking technologies. The major key players in this region are focusing on new technological advancements to support the growth of the area's Internet of Things market.
Region with highest CAGR:
The Asia-Pacific region market is expected to grow at the fastest rate during the forecast period. The Asia-Pacific region is growing, and it has significant growth potential due to thriving commercial sectors such as healthcare, safety and security, manufacturing, energy, and agriculture. The IoT offers a centralized network and associated data management due to the integration of block chain and cryptographic processes across IoT security services, reducing business vulnerabilities and security concerns and fueling the IoT in the engineering services market in this region.
Key players in the market
Some of the key players in IoT Managed Services market include Accenture PLC, Amazon Web Services, Inc, Wipro Limited, CISCO SYSTEMS, INC., Cognizant, GOOGLE, INC, HARMAN International, HCL Technologies Limited, Hewlett Packard Enterprise , IBM Corporation, HQ Particle, Qualcomm Incorporated, Infosys Limited, Intel Corporation, Intel Security Group., Siemens AG, Tata Consultancy Services Limited, Microsoct Corporation, Oracle Corporation and Robert Bosch GmBH.
In February 2023, Sierra Wireless, a Canadian cellular IoT specialist that has been controlled by US LoRaWAN firm Semtech, had announced the launch of a new eSIM / eUICC solution in the United States.
In November 2022, Argentine Chamber of IoT and Telit, a global Internet of Things (IoT) business, have formed a strategic alliance (CAIoT). CAIoT is a member organization that works to promote the IoT market. It addresses legal and regulatory issues, facilitates communication between suppliers and buyers of IoT solutions, improves knowledge of all industry verticals, and promotes IoT as a new growth engine for the Internet in Argentina.
In August 2022, Through a recent agreement with Integron, a managed services supplier for the Internet of Things (IoT) market, Stefanini is now offering eHealth outsourcing solutions to the healthcare and pharmaceutical industries. The agreement combines Stefanini's expertise in IT outsourcing, application development, solution deployment, and systems integration with Integron's tried-and-true managed IoT services, which include connection, security, and device monitoring.
• Infrastructure management service
• Security management service
• Network management service
• Data management service
• Device management service
• Radiofrequency Identification
• Data Processing
• Network Communications
• Pressure Sensors
• Near-Field Communication
• Real-time Streaming Analytics
• Security Solutions
• Remote Monitoring
• Network Bandwidth Management
End Users Covered:
• Automotive & Transport
• Transportation & Logistics
• Energy & Utilities
• Smart Building & Home
• IT & Telecom
• Consumer Electronics
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global IoT Managed Services Market, By Type
5.2 Infrastructure management service
5.3 Security management service
5.4 Network management service
5.5 Data management service
5.6 Device management service
6 Global IoT Managed Services Market, By Technology
6.2 Radiofrequency Identification
6.3 Data Processing
6.4 Network Communications
6.5 Pressure Sensors
6.6 Near-Field Communication
7 Global IoT Managed Services Market, By Solution
7.2 Real-time Streaming Analytics
7.3 Security Solutions
7.4 Remote Monitoring
7.5 Network Bandwidth Management
8 Global IoT Managed Services Market, By End Users
8.2 Automotive & Transport
8.5 Transportation & Logistics
8.6 Energy & Utilities
8.7 Smart Building & Home
8.8 IT & Telecom
8.13 Consumer Electronics
8.15 Other End Users
9 Global IoT Managed Services Market, By Geography
9.2 North America
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.5 Other Key Strategies
11 Company Profiling
11.1 Accenture PLC
11.2 Amazon Web Services, Inc
11.3 Wipro Limited
11.4 CISCO SYSTEMS, INC.
11.6 GOOGLE, INC
11.7 HARMAN International
11.8 HCL Technologies Limited
11.9 Hewlett Packard Enterprise
11.10 IBM Corporation
11.11 HQ Particle
11.12 Qualcomm Incorporated
11.13 Infosys Limited
11.14 Intel Corporation
11.15 Intel Security Group.
11.16 Siemens AG
11.17 Tata Consultancy Services Limited
11.18 Microsoct Corporation
11.19 Oracle Corporation
11.20 Robert Bosch GmBH
List of Tables
1 Global IoT Managed Services Market Outlook, By Region (2020-2028) ($MN)
2 Global IoT Managed Services Market Outlook, By Type (2020-2028) ($MN)
3 Global IoT Managed Services Market Outlook, By Infrastructure management service (2020-2028) ($MN)
4 Global IoT Managed Services Market Outlook, By Security management service (2020-2028) ($MN)
5 Global IoT Managed Services Market Outlook, By Network management service (2020-2028) ($MN)
6 Global IoT Managed Services Market Outlook, By Data management service (2020-2028) ($MN)
7 Global IoT Managed Services Market Outlook, By Device management service (2020-2028) ($MN)
8 Global IoT Managed Services Market Outlook, By Technology (2020-2028) ($MN)
9 Global IoT Managed Services Market Outlook, By Radiofrequency Identification (2020-2028) ($MN)
10 Global IoT Managed Services Market Outlook, By Data Processing (2020-2028) ($MN)
11 Global IoT Managed Services Market Outlook, By Network Communications (2020-2028) ($MN)
12 Global IoT Managed Services Market Outlook, By Pressure Sensors (2020-2028) ($MN)
13 Global IoT Managed Services Market Outlook, By Near-Field Communication (2020-2028) ($MN)
14 Global IoT Managed Services Market Outlook, By Solution (2020-2028) ($MN)
15 Global IoT Managed Services Market Outlook, By Real-time Streaming Analytics (2020-2028) ($MN)
16 Global IoT Managed Services Market Outlook, By Security Solutions (2020-2028) ($MN)
17 Global IoT Managed Services Market Outlook, By Remote Monitoring (2020-2028) ($MN)
18 Global IoT Managed Services Market Outlook, By Network Bandwidth Management (2020-2028) ($MN)
19 Global IoT Managed Services Market Outlook, By End Users (2020-2028) ($MN)
20 Global IoT Managed Services Market Outlook, By Automotive & Transport (2020-2028) ($MN)
21 Global IoT Managed Services Market Outlook, By Manufacturing (2020-2028) ($MN)
22 Global IoT Managed Services Market Outlook, By Government (2020-2028) ($MN)
23 Global IoT Managed Services Market Outlook, By Transportation & Logistics (2020-2028) ($MN)
24 Global IoT Managed Services Market Outlook, By Energy & Utilities (2020-2028) ($MN)
25 Global IoT Managed Services Market Outlook, By Smart Building & Home (2020-2028) ($MN)
26 Global IoT Managed Services Market Outlook, By IT & Telecom (2020-2028) ($MN)
27 Global IoT Managed Services Market Outlook, By Healthcare (2020-2028) ($MN)
28 Global IoT Managed Services Market Outlook, By BFSI (2020-2028) ($MN)
29 Global IoT Managed Services Market Outlook, By Retail (2020-2028) ($MN)
30 Global IoT Managed Services Market Outlook, By E-Commerce (2020-2028) ($MN)
31 Global IoT Managed Services Market Outlook, By Consumer Electronics (2020-2028) ($MN)
32 Global IoT Managed Services Market Outlook, By Construction (2020-2028) ($MN)
33 Global IoT Managed Services Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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