The Internet of Things (IoT) Managed Services Market refers to the provision of services that enable businesses to manage and optimize their IoT infrastructure. IoT Managed Services typically involve a range of activities such as device management, data analytics, network management, and security management. These services are designed to help businesses overcome the complexities and challenges of managing IoT devices and networks, and to ensure that they can extract maximum value from their IoT investments.

The key factors driving the growth of the IoT Managed Services market include the increasing need for real-time monitoring and predictive maintenance of IoT devices, the rising demand for cost-effective and efficient IoT solutions, and the growing adoption of cloud-based IoT platforms. However, the market also faces challenges such as data privacy and security concerns, interoperability issues, and the lack of standardization in IoT protocols.

 Global IoT managed services market

Revenue generated by the global IoT managed services market is estimated to exhibit a double-digit CAGR, and hence, reach US$ 94.3 Bn by 2026. On the basis of IoT managed services type, the network management segment is estimated to hold the largest share of the IoT managed services market in 2026

 Global IoT managed services market :Overview

The IoT managed services market in South East Asia is expected to witness the highest growth in the global market owing to the increasing development of smart cities and increasing ICT spending across industries, complemented by the growth of these industries in the region.

Some popular vendors contributing to the IoT managed services market are Cognizant Technology Solutions Corporation, Tech Mahindra, Cisco Systems Inc., Oracle, IBM Corporation, Accenture, HCL Technologies Limited, Microsoft Corporation, Honeywell International Inc., and Google LLC, among others.

In August 2016, Tech Mahindra entered into a partnership with Telit to develop complete solutions for IoT.

In March 2017, IBM Corporation entered into a partnership with AT&T, a telecommunication company, to provide better solutions and services for IoT and data analytics to enterprises.

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