The Industrial Internet of Things FEATURE NEWS

Research Predicts IoT Managed Services Market to Reach $166 Billion by 2025

By Luke Bellos March 04, 2021

According to the results of a recent market analysis by Frost & Sullivan, the IoT managed services market will likely experience massive growth over the next few years.

Researchers closely examined the tech trends of a number of global regions including North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa. Though the past year was highly affected by the pandemic, the IOT managed services industry brought in $53.56 billion, which is expected to increase significantly as IoT devices continue to rise in popularity among consumers and businesses.

"While the recent pandemic adversely affected expansion across verticals, the impact is expected to be short to medium term, and businesses will recover," said Deepali Sathe, Senior Industry Analyst, Frost & Sullivan. "Technology adoption across verticals has been increasing as the benefits of IoT are quantified for companies to move from pilot and proof-of-concept stage to implementation. Almost all verticals, such as manufacturing, retail, healthcare, utilities, and energy, are expected to regain strong growth trajectories."

The IoT industry is currently facing a problem with standardization, and customers and businesses struggle to integrate devices that are compatible with their networks. This issue will likely be a key focus for managed service providers who are looking to provide customers with easier connectivity. As popularity among IoT devices continues to explode, managed services providers will likely forge other  solutions to provide security, connectivity, and cost reduction for users across the business spectrum.

Learn more about how MSPs and IoT are reshaping the business landscape by joining #TechSuperShow.

Edited by Maurice Nagle

Editor, IoTevolutionworld

Related Articles

Wind Power: Wind River Empowers Developers with Enhanced Studio Capabilities for Mission Critical Intelligent Systems

By: Arti Loftus    4/16/2021

This month Wind RIver rolled out enhancements to what they describe as a pre-integrated, cloud-scale DevSecOps environment where developers can build,…

Read More

Industry Strength Security for the Industrial IoT: The Need for Speed, Safety, and Scale

By: Arti Loftus    4/15/2021

The Industrial Internet of Things (IIoT) is growing in size, sophistication, and sustainability, as billions of dollars of investment, are paying off …

Read More

Financing the Future of Sustainable Energy: Innovative Financing for Innovative Technologies

By: Arti Loftus    4/13/2021

AI using IoT sensors is becoming vital to control the costs and improve the quality of maintenance and field service across energy infrastructure, inc…

Read More

For Connected Industrial Systems, Cloud Governance and Data Management is Mission Critical

By: Arti Loftus    4/12/2021

Distributed industrial systems, edge data, sensors, and computing, and shipping data to the cloud or multiple clouds for analytics and other purposes …

Read More

As Infrastructure Spending is Anticipated to Grow, Controlling Engineering and Construction Costs is Mission Critical

By: Andrew Athanasian    4/7/2021

With a newfound interest in infrastructure investment and the introduction of a multi-trillion-dollar infrastructure bill by the current Administratio…

Read More