Global IoT Device Management Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the IoT Device Management market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. IoT Device Management Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the IoT Device Management Market forecast.
The IoT Device Management Market report discusses the primary industry
growth drivers and challenges that the vendors and the market as a whole face
and provides an overview of the key trends emerging in the market. It also
talks about the market size of different segments and their growth aspects
along with key leading countries in Americas, Asia-Pacific, Europe, the Middle
East, and Africa regions.
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The IoT Device Management market is expected to register
a CAGR of 28.3% in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
Global IoT Device Management Market size is expected to
reach USD 5.1 billion by 2025. The IoT (internet of things) represents a
complex system of networks, interfaces, devices, protocols, platforms, and
data. IoT devices range from actuators, sensors, gateways, and embedded
software/hardware within products and assets. IoT device management consists of
multiple operating systems & varieties of communication protocols and methods
conducting smooth functioning of smart devices.
The factors that play an important role in the growth of
IoT device management industry include increasing demand, increasing
urbanization & industrialization, need for digitalization, growing demand for
IoT services, increasing penetration of communication & networking
technologies, growing penetration of smart devices & IoT sensors,
technological advancements and increasing government support for public cloud.
Moreover, growing emphasis on rising operational efficiencies and managing
connected devices is expected to drive market growth in the next couple of
years.
By component, the market is bifurcated into services and
solutions. The “services” segment is anticipated to hold the largest market
share in the upcoming period. This segment includes managed and professional
services. The “solutions” segment accounted for the highest market share in
2016 and is expected to witness high growth rate in the forthcoming years. This
segment is further segmented into data management, security solutions,
real-time analytics, network bandwidth management and remote monitoring.
IoT device management technologies are used in various
industries such as healthcare, retail, utilities, transportation &
logistics, manufacturing, and others. The “healthcare” industry is anticipated
to witness the largest market share in the next couple of years. However, the
“transportation” sector is expected to hold the largest market share during the
forecast period due to increasing adoption of IoT device management solutions.
The probable stakeholders for market include network
operators, cloud-based service providers, IoT solution providers, network
infrastructure providers, device management providers and machine-to-machine,
IoT & telecommunication companies. The market is widely analyzed based on
different regional factors such as gross domestic product (GDP), demographics,
acceptance, inflation rate and others. The market is categorized based on
component, solution, service, organization size, deployment, vertical, end
user, and geography.
By size of organization, the market is categorized into
large and SMEs enterprises. The “SMEs” are projected to grow at a high CAGR
during the forecast period. Large industries are increasingly adopting
connected device management solutions for various activities related to
transportation & logistics, manufacturing, and assets management. The
“large enterprise” segment is expected to hold the highest market share over
the forecast period.
North America has been at the forefront with regards to
IoT device management market and will continue to rule the roost in the years
to come. The growing infrastructural developments, increasing penetration of
cloud technologies and heavy adoption of latest networking technologies are
major factors driving the growth of market in this region. On the other hand,
Asia Pacific is anticipated to hold the highest market share in the coming
years due to high demand for smart city infrastructure and healthcare in
developing countries such as India and China.
The key players contributing to the robust development of
the IoT device management industry include IBM Corporation, Advantech Co. Ltd.,
Aeris Communications Inc., Robert Bosch GmbH, Bosch Software Innovations,
Microsoft Corporation, Oracle Corporation, PTC Inc., Smith Micro Software,
DevicePilot, Tibbo Systems, Wind River Systems Inc., Cumulocity GmbH, Capricode
and SAP SE. These market players are focusing on inorganic growth to sustain
themselves amidst fierce competition. As such, mergers, acquisitions, and joint
ventures are the need of the hour.
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