Worldwide Internet of Things (IoT) Managed Services Market to Grow at a CAGR of 15.3% during2016–2022 to touch $120.0 billion: Infoholic Research
Rising adoption of mobility technology, increasing IoT adoption rate in industries and mobile subscriber baseimproves the strength of the market. The managed security services hold more than 30% of the market share for overall IoT managed services market in 2016, while managed devices hold 18% of the market share.
The “Worldwide IoT Managed Services” market is set to grow at a CAGR of 15.3% during the forecast period 2016–2022 to touch $120.0billion. This was revealed in a new study titled“IoT Managed Services: Market Trends & Forecast — 2016–2022”, published today by Infoholic Research LLP, a global ICT and Electronics market research and consulting organization.
As per the vertical analysis of the report- “IoT Managed Services: Market Trends & Forecast — 2016–2022”, Manufacturing and BFSI industries are expected to outperform and together are contributing around $19.6 billion revenue for IoT market growth in 2016. In the manufacturing industry, the term connected car has become the buzzword and manufacturers are aggressively investing in this sector. Moreover, within few years, connected car adoption rate is expected to grow further in developing countries and developed countries as well. Thus, there is a need of IoT managed services in this industry. In addition, Healthcare and Education industries are set to be the emerging verticals for IoT managed services market in the next 6–7 years.
As per the study, North America is set to be the leading region for IoT managed service market followed by Western Europe and Asia-Pacific. The Middle East & Africa and Latin America are set to be the emerging regions for IoT market growth.
IOT SERVICES — HEALTHCARE
Note: Few readings are hidden in the chart. You can find the complete report in Infoholic Research.
Percentage rise of IoT services in health sector is steep and can be observed in several segments. With doctors and medical practitioners recommending more IoT health devices to patients, it makes this technology but obvious for positive businesses growth in times to come.
Note: Few readings are hidden in the chart. You can find the complete report in Infoholic Research.
The graph exclusively shows the upsurge growth in Market Revenue of IoT managed services of Energy & Utilities in North America from $1639.00 million to $3,400.40 million in the year 2016 to 2020. For the same time span and IoT segment the market revenue for West Europe and Asia Pacific will be rising from $1187.1 million to $2336.9 and $845.6 million to $1920.2 respectively.
The rising awareness of smart technologies in enterprises and consumers, increasing spending on IoT technologies, initiatives of governments, and rising mobile subscriber base in developing countriesare expected to drive the market growth in the upcoming years.
“Within few years, billions of devices will be connected to the internet from various industries and consumers. Theincrease in the number of connected devices will lead to demand for the IoT managed services as connected devices are required to manage accurately and to leverage the benefits. Thus, in the next 6–7 years, managed service providers have huge business opportunities in this market.” — Bhavya H, Senior Research Analyst at Infoholic Research.
Further, the report also aims to cover the below points:
· IoT managed services market analyzed by types:managed security service, managed networks, managed infrastructure, and managed devices.
· Cover the industry segments includingManufacturing, BFSI, Retail & Consumer Electronics, IT &Telecom, Transportation, Energy & Utilities, Healthcare, and Education.
· An in-depth analysis of the emerging regions and verticals for IoT managed services adoption in the next 6–7 years.
· Usage and adoption rate of various IoT managed services in each industry verticals.
· Provides an in-depth analysis of the key business opportunities in each vertical.
· Gives industry outlooks such ascurrent and future market trends and drivers, restraints and emerging technologies.
· Analyzes the market by six distinct geographical regions — North America, Western Europe, Central Eastern Europe, Asia Pacific, Latin America and the Middle East& Africa.
Scope of the Report: Worldwide Internet of Things (IoT) Managed Service Market
· The report providescomplete details about the adoption and usage of IoT managed services market.
· Markets are analyzed by
o Managed Service Type — managed devices, managed security services, managed infrastructure services, managed networks and Others.
o Verticals — BFSI, Retail & Consumer Electronics, IT & Telecom, Transportation, Manufacturing, Healthcare, Energy & Utilities, Education and Others.
o Regions — North America, Western Europe, Asia Pacific, Central Eastern Europe, Middle East & Africa, and Latin America.
· The report covers drivers, restraints and opportunities (DRO) affecting the market growth over the forecast period (2016–2022).
· It also contains analysis of vendor profiles, which includes financial health, business units, key business priorities, SWOT, strategy and views.
· The report also covers competitive landscape, which includes mergers and acquisitions, joint ventures and collaborations, and competitor comparison analysis.
· In vendor profile sections, for the companies that are privately held, financial information and revenue of segments will be limited.
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About Infoholic Research
Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in the US and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visitwww.infoholicresearch.com
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