The IoT Managed Services Market is expected to increase during the forecast period due to the high demand of third-party logistics service providers and the fast-growing IT industry. In addition, the growing demand for industrial automation and efficient supply chain solutions has further strengthened the growth of the smart and mobile supply chain solutions market.
But lack of infrastructure can hinder the growth of the IoT Managed Services Market. Nonetheless, emerging markets in developing countries provide ample opportunity for key players operating in the smart and mobile supply chain solutions market during the forecast period.
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Leading IoT Managed Services Market Players:
Cisco Systems Inc., Cognizant, Google Inc., Harman International, HCL Technologies , imited, IBM Corporation, Infosys Limited, Microsoft, Tata Consultancy Services Limited, Wipro Limited
GLOBAL IOT MANAGED SERVICES – MARKET SEGMENTATION
- Device Management Services
- Data Management Services
- Network Management Services
- Security Management Services
- Transportation & Logistics
- Energy & Utilities
- Smart Building & Home
- IT & Telecom
Increasing Demand from the Manufacturing Sector
The increasing adoption of IoT in the manufacturing sector is creating a massive demand for IoT managed services and are significantly driving the global IoT managed services market. With the increasing adoption of IoT in the manufacturing sector, most of the manufacturing companies are facing challenges while implementing IoT such as identification of suitable IoT solution, compatibility of IoT devices from different vendors, and others. To resolve this issue, IoT managed services providers offer services such as evaluate, integrate, and deploy IoT solution based on the requirement. For instance, Microsoft offers Azure cloud platform to enable industrial IoT centric device management. To tap the market vendors are highly focused on offering unique services such as smart enterprise control, smart factory and business interconnect services, asset performance management, and others. Currently, the government, manufacturing, and transport & logistics collectively accounted for almost half of the global IoT managed services market by end-use in 2018. Moreover, the transport & logistics market for IoT managed services is expected to grow with a CAGR of 20.9% during the forecast period of 2019 – 2027.
Integration of Managed Security Services with Other Technologies
IoT Managed service providers are integrating new technologies to gain more intelligent insights about the behavior of malware and other threats. Few vendors have network sandboxing technology with its services to gain access to the behavior of malicious activities in a virtual environment. Network sandboxing technology generates huge volumes of reporting information than traditional tools. Advanced automated security event and log correlation rules are applied to filter out the false positives. The real threats are then analyzed using managed security services technology to understand the behavior and business impact of reaming positive threats. A detailed incident report is generated with specific remediation recommendations. This helps service providers to focus on their resources to true incidents rather than on false incidents. Security management services in IoT managed services market are expected to be the fastest growing segment during the forecast period.
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This post was originally published on Space Market Research