IoT (Internet of Things) provides immense growth opportunity for managed service providers. Rising digital technology in the connected world will involve nearly 33 billion by 2023 and in this connected world managed services would be a critical component. Rising adoption of smart technologies in various verticals has generated IoT technologies. Moreover, growing number of connected devices will generate high demand for managed services. The IoT ecosystem includes devices, security, applications, connectivity and a properly managed service is required to manage these in an effective way. Further, to run the IoT technologies successfully, a properly managed service in each layer of IoT ecosystem is required.

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IoT Managed Services Market is expected to grow at a CAGR of 23% during the forecast period 2018–2024. The market is growing due to the expansion of IoT throughout worldwide. IoT Managed Services Market is segmented by: managed Service Types, Verticals, and Regions. The major players included in this report such as Google, Apple, IBM, AT&T, Intel, Microsoft, Accenture, and many more.

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The major drivers included in this report like digital technologies, government initiatives, changing business models, increased IT spending on security services, and many more. Additionally, the report providers a deep drive analysis to improve their current business approach by offering strategic intelligence about the competition.

North America and Europe will continue to capture the largest share throughout 2023. Asia-Pacific region is expected to be an emerging market in the next five years mainly due to higher adoption of cloud computing, increasing investments in innovation & technology, and government initiatives supporting the IoT Managed Services.

This report offers one of the major services which is going to play a major role in IoT market during the forecasted year. Moreover, this report can also tailored as per the requirement by the users, and also available with deeper segmentation by regions, countries, verticals, and vendor profiling. Some of the major players in this market are Oracle Corporation, Microsoft Corporation Accenture Plc, Google Inc., Apple Inc, SAP, Intel Security Group, IBM, Cisco Systems Inc, and Hewlett Packard Enterprise Co., Cisco Systems, HCL technologies, Wipro Limited, and Tech Mahindra.

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