The Internet of Things (IoT) device management market is the area of the technology sector that focuses on managing and controlling IoT devices. IoT devices are actual physical items that have sensors, software, and connection built in them so they can communicate data with other systems and devices. These electronic devices cover a broad range of products, such as connected automobiles, smartwatches, industrial machinery, and smart household appliances. IoT device administration entails the deployment, supervision, configuration, and servicing of these devices over the course of their useful lives. It includes a number of features such as firmware updates, data analytics, security management, and device troubleshooting. IoT device management seeks to guarantee the efficient and smooth operation of IoT devices. The rapid expansion of IoT market has fueled demand for IoT device management solutions. There is a need for efficient management and control of linked devices in order to maximize their performance and guarantee proper operation. Regardless of their size or location, organizations are able to remotely monitor and manage their IoT devices with the help of IoT device management solutions. The presence of multiple vendors offering various solutions and services defines the IoT device management market. Device vendors, software developers, cloud service providers, and system integrators are some of these participants. They provide a variety of solutions, including platforms for device management, connectivity management, and application enablement. New trends and technologies have entered the industry, that have influenced its development. These incorporate the use of blockchain technology for improved security, the adoption of AI and ML for advanced analytics and predictive maintenance, and the move toward edge computing for real-time data processing.
The IoT device management market is segmented on the basis of component, enterprise size, end user and region. On the basis of component, it is bifurcated into solution and services. On the basis of enterprise size, it is bifurcated into large enterprise and small and medium-sized enterprise. On the basis of end user, it is fragmented into retail, healthcare, transportation, manufacturing, utilities, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global IoT device management industry is dominated by key players such as Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, Ptc, Inc., Telit, Smith Micro Software, Inc., Aeris, Advantech Co., Ltd., Enhanced Telecommunications, Bosch. Io Gmbh. These players have adopted various strategies to increase their market penetration and strengthen their position in the IoT device management market.
The IoT device management market is segmented on the basis of component, enterprise size, end user and region. On the basis of component, it is bifurcated into solution and services. On the basis of enterprise size, it is bifurcated into large enterprise and small and medium-sized enterprise. On the basis of end user, it is fragmented into retail, healthcare, transportation, manufacturing, utilities, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global IoT device management industry is dominated by key players such as Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, Ptc, Inc., Telit, Smith Micro Software, Inc., Aeris, Advantech Co., Ltd., Enhanced Telecommunications, Bosch. Io Gmbh. These players have adopted various strategies to increase their market penetration and strengthen their position in the IoT device management market.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the iot device management market analysis from 2022 to 2032 to identify the prevailing iot device management market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the iot device management market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global iot device management market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly update (only available with the purchase of an enterprise license)
- 5 additional company profiles of your choice, pre- or post-purchase, as a free update.
- Free updated version (once released) with the purchase of a 1-5 or enterprise user license.
- 16 analyst hours of support (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% free customization (in case the scope or segment of the report does not match your requirements, 20% is equivalent to 3 working days of free work, applicable once)
- Free data pack (Excel version) with the purchase of a 1-5 or enterprise user license.
- Free report update, if the report is 6-12 months old or older.
- 24-hour priority response
- Free industry updates and white papers.
Key Market Segments
By Enterprise Size
- Large Enterprise
- Small and Medium-sized Enterprise (SMEs)
By End User
- Retail
- Healthcare
- Transportation
- Manufacturing
- Utilities
- Others
By Component
- Solution
- Service
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- PTC, Inc.
- International Business Machines Corporation
- Advantech Co., Ltd.
- Telit
- Aeris
- Microsoft Corporation
- Bosch. IO GmbH
- Oracle Corporation
- Smith Micro Software, Inc.
- Enhanced Telecommunications
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: IOT DEVICE MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: IOT DEVICE MANAGEMENT MARKET, BY ENTERPRISE SIZE
CHAPTER 6: IOT DEVICE MANAGEMENT MARKET, BY END USER
CHAPTER 7: IOT DEVICE MANAGEMENT MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the iot device management market was valued at $2.2 billion in 2022, and is estimated to reach $29.5 billion by 2032, growing at a CAGR of 30.2% from 2023 to 2032.In the IoT device management market, connected device administration, provisioning, tracking, and diagnostics are all necessary for fault replication and corrective actions. The implementation of 5G networks and their support for massive IoT, combined with Multi-access Edge Computing (MEC), along with the complete growth of IoT networks and systems, as well as rise in concerns over network security, increase in need to monitor the health of IoT devices, and other key factors, all of which have an impact on the total IoT device management market. Moreover, IoT device management platforms provide data gathering and analysis. Moreover, due to the advancement of innovative technologies such as cloud computing, artificial intelligence, and machine learning, the IoT device management industry has experienced a revolution. These technologies have helped IoT device management solutions become more sophisticated, scalable, and secure. The need for effective IoT device management has risen due to the rapid growth of connected devices. Another element influencing the growth of market revenue is the demand for IoT devices, data, and privacy security. It is now more crucial than ever to implement strong security measures in IoT device management, due to the increase in cyberattacks and data breaches. More people are expected to choose cloud based IoT device management solutions, which provide greater scalability, flexibility, and cost-effectiveness, helping to further accelerate the market revenue growth.
Moreover, factors such as the rise in adoption of IoT devices, and growth in need of data security and privacy primarily drive the growth of the IoT device management market. However, inconsistency in the IoT standards for compatibility hamper market growth to some extent. Moreover, rise in adoption of cloud base devices is expected to provide lucrative opportunities for market growth during the forecast period.
On the basis of component, solution segment dominated the IoT device management market size in 2022 and is expected to maintain its dominance in the upcoming years owing to enable remote configuration of settings such as network parameters, software updates, thresholds, and behavior customization propels the market growth significantly. However, the service segment is expected to witness the highest growth, owing to provide reliable, secure, and efficient service offerings that meet the needs of both customers and providers.
Region wise, the IoT device management market share was dominated by North America in 2022 and is expected to retain its position during the forecast period, owing to rise in adoption of industry 4.0 and other emerging technologies in varied industry applications has led to a considerable rise in demand for IoT device management solutions for improved digital systems. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to rise in the number of digital transformation initiatives with growth in adoption of advanced technology, such as cloud computing, and data analytics drives the need for IoT device management solutions, particularly in countries such as China, Japan, and India.
The industry for IoT device management has been significantly impacted by the COVID-19 outbreak. The demand for IoT devices has expanded across many industries as a result of a global trend toward remote work and the rise in reliance on digital solutions. IoT devices are embraced by businesses more frequently to support applications such as remote monitoring, asset tracking, and automation. This has increased the requirement for these devices to be managed and secured effectively. Moreover, the pandemic has driven the adoption of IoT devices and solutions, fueling growth in the IoT device management industry. Organizations have looked for effective ways to remotely monitor, operate, and upgrade these devices, which has led to opportunities for device management platforms and services. Furthermore, the demand for comprehensive device management solutions is fueled by the urgent requirement for strong security measures to safeguard sensitive data acquired by IoT devices. The IoT device management market has faced difficulties as a result of the pandemic. IoT device availability and delivery have been hindered by the disruption in global supply chains and manufacturing procedures, which has slowed down deployments. In addition, many organizations have experienced budgetary restrictions as a result of the pandemic, which is anticipated to slow down investments in IoT device management systems. However, the long-term picture for the IoT device management industry is expected to be promising as the world progressively recovers from the pandemic and businesses continue to embrace digital transformation.
Key Findings of the Study
By component, the solution segment led the IoT device management market analysis in terms of revenue in 2022.By enterprise size, the small and medium-sized enterprise segment is anticipated to have the fastest growth for IoT device management market growth.
By end user, the manufacturing led the IoT device management market and is expected to maintain its dominance in the upcoming year.
By region, North America generated the highest revenue for IoT device management market forecast.
The key players profiled in the IoT device management industry analysis are Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, Ptc, Inc., Telit, Smith Micro Software, Inc., Aeris, Advantech Co., Ltd., Enhanced Telecommunications, Bosch. Io Gmbh. These players have adopted various strategies to increase their market penetration and strengthen their position in the IoT device management industry.
Companies Mentioned
- PTC, Inc.
- International Business Machines Corporation
- Advantech Co., Ltd.
- Telit
- Aeris
- Microsoft Corporation
- Bosch.IO GmbH
- Oracle Corporation
- Smith Micro Software, Inc.
- Enhanced Telecommunications
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
