Internet of Things Market-Size By Business Function, By Component, By Deployment Model, By End User, And Forecast Up to 2021 (Trending Report)

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment. 

The IoT managed services market size is expected to grow from USD 21.85 billion in 2016 to USD 79.60 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 29.5% during the period 2016–2021. The major drivers for the upsurge in demand for the IoT managed services market include rise of managed cloud services and growing inclination towards cost effective managed services. The inability of Managed Service Providers (MSPs) to cope up with IoT complexities and the lack of scalability and flexibility in their service offerings are the major restraints for the IoT managed services markets.

Smart manufacturing is estimated to have the largest market share
The smart manufacturing vertical is expected to have the largest market share during the forecast period. The manufacturers’ need for operational efficiency has increased the utilization of sensors through enhanced automation and integrated connected technology solutions across the manufacturing process, which in turn, has increased the demand for IoT managed services for various manufacturing applications.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Internet of Things Market-Size By Business Function, By Component, By Deployment Model, By End User, And Forecast Up to 2021 (Trending Report)

Asia-Pacific (APAC) is expected to grow at a faster rate during the forecast period
As per the geographic analysis, APAC is expected to grow at the highest CAGR during the forecast period. The region is estimated to surpass Europe in terms of IoT adoption and deployment in the near future. This growth can be attributed to the growing number of connected devices, sensors, network connectivity, and cloud adoptions for business applications and also the increasing requirements of the enterprise IT security technologies.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profiles of primary discussion participants are given below:

• By Company Type: Tier-1 (39%), Tier-2 (34%), and Tier-3 (27%)
• By Designation: C-Level (68 %), Manager Level (21 %), and Others (11%)
• By Region: Europe (36 %), APAC (24 %), North America (22 %), and the Rest of World (RoW) (18%)

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The Final Report will cover the impact analysis of COVID-19 on this industry: Internet of Things Market-Size By Business Function, By Component, By Deployment Model, By End User, And Forecast Up to 2021 (Trending Report)

Research Coverage
The global IoT managed services market has been segmented on the basis of services type, vertical, and region. A detailed analysis of the regions has been done to provide insights into the potential future business opportunities in different regions. In addition to this, product portfolio analysis, value chain analysis, and strategic benchmarking are some of the other MarketsandMarkets analysis included in the report.

Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the IoT managed services market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments, across different regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.

TABLE OF CONTENTS

1 INTRODUCTION 13
1.1 OBJECTIVES OF THE STUDY 13
1.2 MARKET DEFINITION 13
1.3 MARKET SCOPE 14
1.3.1 MARKETS COVERED 14
1.3.2 YEARS CONSIDERED FOR THE STUDY 15
1.4 CURRENCY 15
1.5 LIMITATIONS 15
1.6 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 SECONDARY DATA 18
2.1.1 KEY DATA POINTS TAKEN FROM SECONDARY SOURCES 18
2.2 PRIMARY DATA 19
2.2.1 KEY DATA FROM PRIMARY SOURCES 19
2.2.1.1 Key industry insights 20
2.2.1.2 Breakdown of primaries 20
2.3 MARKET SIZE ESTIMATION 21
2.3.1 BOTTOM-UP APPROACH 21
2.3.2 TOP-DOWN APPROACH 22
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 23
2.5 ASSUMPTIONS 24

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