Global IoT Device Management Market was valued US$ XX Bn in 2019 and is expected to reach XX Bn by 2027, at a CAGR of 30.80 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
IoT device management consists of multiple operating systems and several varieties of communication methods and protocols, which are targeted at guiding the smooth functioning of smart devices.
An increase in the penetration of communication and networking technologies and the requirement for real-time analytics, connected assets, and security of machines are some of the driving factors behind the growth in the global IoT device management. These devices support provisioning and authentication, configuration and control, software updates and maintenance, and monitoring and diagnostics of connected devices, which is expected to boost the growth in the global IoT device management market.
On the other hand, the growing incidence of cybercrime is a key factor expected to limit the growth of the global market during the forecast period.
A major trend in the global IoT device management market is the execution of the solutions in the industrial sector due to the digitization of supply chain and manufacturing procedures. The demand for the IoT management devices is increasing due to these device helps to reduce the operational cost of the industrial activities. It also helps in process automation, growing productivity, and eliminating manual challenges.
The security solution segment is expected to lead the Global IoT device management market. The demand for security solutions is increasing among clients who are deploying IoT solutions owing to security concerns. As various devices are connected to each other in an IoT system, in which security of data becomes complex owing to the non-standardization and non-compatibility of devices. IoT solution providers are investing large capitals in research and development (R&D) of security solutions. Security is also one of the major challenges, which is faced by organizations while organizing IoT solutions.
The Small and Medium-Sized Enterprises (SMEs) segment is expected to share significant growth in the global IoT device management market during the forecast period. These enterprises face some specific challenges like the necessity of domain-specific technical personnel and skilled workforce, budget constraint, and limited financial prudence of scale. Increasing competition has encouraged SMEs to invest in disruptive technology and adopt go-to-market strategies to make effective decisions for business growth.
North America region is estimated to dominate the growth in the global IoT device management market. The dominant position in the market is attributed to the increasing adoption of advanced IoT technologies and the high investment power of the key players to secure and properly manage their IoT and cloud computing networks. High broadband speed and innovative infrastructure in the developed countries are increasing the consumption of smart devices. Furthermore, the Asia Pacific region is projected to grow at a XX % rate of CAGR during the forecast period. The rapid expansion of the IT industries is expected to boost the growth in the global IoT device management market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global IoT device management market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global IoT device management market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
The Scope of the Report for Global IoT Device Management Market
Global IoT Device Management Market, By Component
Global IoT Device Management Market, By Solution
• Real-Time streaming analytics
• Security solution
• Data management
• Remote monitoring
• Network bandwidth management
Global IoT Device Management Market, By Service
• Professional services
• Managed services
Global IoT Device Management Market, By Organization Size
• Large Enterprises
• Small and Medium-Sized Enterprises (SMEs)
Global IoT Device Management Market, By Deployment Model
• Public cloud
• Private cloud
• Hybrid cloud
Global IoT Device Management Market, By Application
• Smart retail
• Connected health
• Connected logistics
• Smart utilities
• Smart manufacturing
Global IoT Device Management Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global IoT Device Management Market
• Amplia Soluciones S.L.
• Microsoft Corporation
• Cumulocity GmbH
• Enhanced Telecommunications Inc.
• Tibbo Systems
• International Business Machines Corporation
• Microsoft Corporation
• SmithMicro Software
• Oracle Corporation
• SiteWhere LLC
• Wind River
• Aeris Communication, Inc.
• PTC Incorporation
• Smith Micro Software, Inc.
• Bosch Software Innovation GmbH
• Advantech Co. Ltd
• Matrix42 AG
• International Business Management (IBM) Corporation
• Telit Communications PLC
• Wind River
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