Some of the IoT-managed services market’s key growth opportunities are driven by increasing demand for vertical and horizontal solutions. Similarly, other options have surfaced due to emerging technologies such as data analytics, artificial intelligence and machine learning, new connectivity protocols, and advanced security.
Providers are looking to augment their solutions with new business models and capabilities while educating clients about best practices that will enhance outcomes. The global IoT-managed services market is poised for significant growth as COVID-19 forces companies to fast-track their IoT implementation plans, and managed services can help them achieve their goals cost-effectively.
While the Internet of Things (IoT) adoption is a strategic imperative, companies struggle with legacy infrastructure, connectivity, and implementation decisions. IoT providers can help companies advance IoT plans by using their expertise and portfolio of solutions.
Instead of following a build-and-own approach, companies should opt for IoT-managed services to make adequate use of the rapid developments in IoT and advanced technologies that enhance solutions and outcomes.
With new business models, innovations, and continuous development of products and services, IoT providers can help clients stay ahead of the curve and adopt IoT best practices.
Clients are at different levels of adoption when it comes to IoT, and for those in the early stages, navigating the IoT ecosystem can be tough. The expertise and experience of managed services providers will enhance these companies’ outcomes, allowing them to focus on their core business.
One key development in the global market is the collaborative approach that providers are adopting. With clients needing assistance across connectivity, cybersecurity, data management, device management, and infrastructure management, their needs are difficult and complex.
Providers are increasingly collaborating with others in the industry ecosystem to provide complete, end-to-end solutions. Moreover, industry participants are working to develop standards and regulations to ensure better compatibility, interoperability, and compliance across regions.