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IoT Managed Services Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's IoT Managed Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 21, 2024 /EINPresswire / -- The iot managed services market has experienced robust growth in recent years, expanding from the market is projected to grow from $72.94 billion in 2023 to $90.17 billion in 2024, with a compound annual growth rate (CAGR) of 23.6%. This growth during the historic period can be attributed to the increasing complexity of IoT ecosystems, the proliferation of IoT devices, the need for scalable and secure connectivity, the rising demand for data analytics in IoT, and the limited in-house expertise for IoT management.
What Is The Estimated Market Size Of The Global IoT Managed Services Market And Its Annual Growth Rate?
The iot managed services market is projected to continue its strong growth, reaching the market is expected to reach $209.57 billion by 2028, with a compound annual growth rate (CAGR) of 23.5%. This growth during the forecast period can be attributed to the expansion of 5G networks, the growth of edge computing for IoT, an increased emphasis on IoT security and privacy, the rise of industry-specific IoT applications, and the growing demand for multi-cloud applications.
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Growth Driver Of The IoT Managed Services Market
The growing adoption of IoT managed services solutions in the automotive, consumer electronics, and information and telecommunications sectors is expected to drive the growth of the IoT managed services market. Key factors fueling this growth include the current deployment of long-term evolution (LTE) technology and advancements in various fields. IoT managed services are increasingly utilized across the automotive, consumer electronics, and telecommunications industries.
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Which Market Players Are Driving The IoT Managed Services Market Growth ?
Key players in the market include Cisco Systems Inc., International Business Machines Corporation, HCL Technologies Limited, HARMAN International Industries Incorporated, Cognizant Technology Solutions Corporation, AT&T Inc., Verizon Communications Inc., Vodafone Group Plc, T-Mobile US Inc., Sprint Corporation, Ericsson AB, Orange Business Services, Deutsche Telekom AG, Sierra Wireless Inc., Telit Communications PLC, Aeris Communications Inc., KORE Wireless Group, Arm Ltd., PTC Inc., Microsoft Corporation, Amazon Web Services Inc., Siemens Aktiengesellschaft, Robert Bosch GmbH, Dell Technologies Inc., Hewlett Packard Enterprise Company, Oracle Corporation, Telstra Corporation Limited, Software Aktiengesellschaft, Wipro Limited, Accenture plc, Fujitsu Limited, NTT Data Corporation.
What Are the Key Trends That Influence The IoT Managed Services Market Size ?
Leading companies in the IoT-managed services market are developing innovative advanced software platforms, such as MODGo, to meet the rising demand for streamlined and efficient IoT asset management. MODGo is designed specifically to simplify the management of IoT assets.
How Is The Global IoT Managed Services Market Segmented?
1) By Service Type: Infrastructure Management Services, Security Management Services, Network Management Services, Data Management Services, Device Management Services
2) By End-Users: Automotive And Transport, Information Technology And Telecom, Healthcare, Banking, Financial Services, And Insurance (BFSI), Manufacturing, Other End-Users
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
Geographical Insights: North America Leading The IoT Managed Services Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
IoT Managed Services Market Definition
IoT managed services are designed to assist in the management of IoT environments. They establish a suitable business strategy for digital transformation and enable organizations to integrate the right combination of IoT products and solutions. These services provide systematic solutions to business challenges, enhance operational efficiency, and create opportunities for entering new markets.
IoT Managed Services Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global iot managed services market report covering trends, opportunities, strategies, and more
The IoT Managed Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on iot managed services market size, iot managed services market drivers and trends, iot managed services market major players and iot managed services market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
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