IoT Managed Services Market to 2027 by Services (Device Management Services, Data Management Services, Network Management Services, and Security Management Services); by End-Use (Government, Manufacturing, Transportation & Logistics, Energy & Utilities, Smart Building & Home, IT & Telecom, Healthcare, BFSI, and Retail) – Global Analysis and Forecast”, the IoT managed services market is estimated to reach US$ 135.0 billion by 2027 from US$ 30.2 billion in 2018.

The IoT managed services Market is witnessing a huge adoption across the industries during the forecast period. Various service providers operating in the market are focused on offering IoT managed services with advanced technology and competitive price. Further, the increasing adoption of cloud technology is enabling service providers to offer cloud-based services to their customers. IoT managed services market is witnessing multiple partnerships, mergers, and acquisitions among the players for the development of upgraded managed services. 

Some of the key players in the IoT managed services market

Cisco Systems Inc.

Cognizant

Google Inc.

Harman International

HCL Technologies Limited

IBM Corporation

Infosys Limited

Microsoft

Tata Consultancy Services Limited

Many global and regional players are present in the market to offer diversified managed services to its customers. The partnership and acquisition remain the key strategy to enhance the service portfolio and to expand the footprints in different geographies.

There has been constant advancements in IoT managed services. Infosys entered into a partnership with Siemens PLM Software to create applications and services for MindSphere, which is an open cloud-based IoT operating system from Siemens. The partnership of Siemens and Infosys would enable the customers to enhance the competitiveness by managing the data produced by their devices. Initially the focus of partnership would be on the customers of energy, manufacturing, utilities, healthcare, transportation and logistics industries.