Global IoT Managed Services Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “IoT Managed Services Market By Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the IoT Managed Services Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Asia Pacific dominates the IoT Managed Services Market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.
The increasing adoption of smart devices in the organization run efficiently and also they are monitored and managed properly. Internet of things (IoT) consists of devices, connectivity, security, and applications. There will be a large demand for managed services as number of devices will be connecting to the internet from different industries.
The awareness among users about smart technology is increasing on a large scale, which leads to the growth of the market. The other driving factors for the market growth includes increasing adoption of digital technologies, changing business models, government initiatives, increasing IT spending on security services, and rising adoption of connected devices.
Tremendous increase of connected devices will create demand for IoT managed services which is one of the important opportunity for the growth of the market. The market has to face several challenges includes stable security threats in IoT environment and lack of long term successful partnership between MSPs and organization.
Key Question Answered:
•What will be the market size in 2025 and at what rate it will grow?
•Who are the major key players in global IoT Managed Services market and what are their strategies?
•Which vertical industry is expected to show major growth?
•What segment and region will lead the market and why?
The major companies profiled in the report include: Cisco Systems, Inc., Cognizant Technology Solutions Corporation, HCL Technologies Limited, Infosys Limited, Virtusa Corporation, Tieto Corporation, Tata Consultancy Services Limited, Tech Mahindra Limited, and Wipro Limited.
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