How IoT Managed Services Market Will Dominate In Coming Years?
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.
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The Global IoT Managed Services Market was valued at US$ 30.2 Bn in 2018 and is anticipated to grow at a CAGR of 18.5% to account for US$ 135.0 Bn by 2027.
The IoT managed services market has recently witnessed a significant adoption in diverse verticals ranging from government and manufacturing to healthcare and retail. The growth in adoption of IoT managed services is attributed to several factors such as rapid urbanization, trending smart homes, increasing penetration of smartphones, continuous advancements in cloud technology, rapid roll-out of 4G/5G networks, increasing cyber-attacks, and others.
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.
Top Industry Players of IoT Managed Services :
Cisco Systems Inc., Cognizant, Google Inc., Harman International, HCL Technologies Limited, IBM Corporation, Infosys Limited, Microsoft, Tata Consultancy Services Limited, and Wipro Limited
Major highlights of the IoT Managed Services :
· An all-inclusive evaluation of the parent market
· The evolution of significant market aspects
· Industry-wide investigation of market segments
· Assessment of the market value and volume in the past, present, and forecast years
· Market share evaluation
· Study of niche industrial sectors
· Tactical approaches of the market leaders
· Lucrative strategies to help companies strengthen their position in the market.