Global Internet of Things (IoT) Managed Services Market accounted for USD 22.23 billion in 2016 growing at a CAGR of 30.2% during the forecast period of 2017 to 2024.

Pune, India -- (SBWire) -- 01/17/2018 --The Global Internet of Things (IoT) Managed Services Market accounted for USD 22.23 billion in 2016 growing at a CAGR of 30.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Global Internet of Things (IoT) Managed Services Market By Geography, Service Type (Infrastructure Management, Security Management, Network Management, Data Management, Device Management); Vertical (Smart Manufacturing, Smart Retail, IT & Telecom, Smart Transportation, Smart Energy & Utilities, Smart Buildings) – Industry Trends and Forecast to 2024

Company Share Analysis: 

The report for internet of things (IoT) managed services market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments. 

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TOP Key Players :

- Cisco,

- Cognizant,

- Happiest Minds,

- HARMAN International,

- HCL Technologies Limited,

- Infosys Limited,

- Tata Consultancy Services Limited,

- Tech Mahindra Limited,

- Tieto,

- Virtusa Corporation,

- Wipro Limited.

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Market Segmentation: 

On the basis of service type:- Infrastructure management services, security management services, network management services, data management services, and device management services.

On the basis of vertical:- Smart manufacturing, smart retail, IT and telecom, smart transportation, smart energy and utilities, smart buildings, and others.

On the basis of geography:- North America, South America, Europe, Asia-Pacific, and Middle East & Africa. U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.                

 Major Market Drivers & Restraints:

- Increasing momentum of managed cloud services

- Declining profits from service revenues shifting the focus to MSPs

- Growing inclination toward cost-efficient managed services

- Inability of MSPs to cope up with IoT complexities

- MSPs in IoT space lack scalability and flexibility in their service offerings

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