The IoT Device Management market was valued at about USD 1,295.10 million in 2021 and is expected to expand to approximately USD 5830.72 million by 2028, at a CAGR of approximately 28.50 percent during the projected period. This report analyses key players, the latest technology, market shares, and growth.
IoT Device Management Market: Overview
IoT Device Management simplifies the remote registration, monitoring, organization, and management of large-scale IoT devices. IoT Device Control helps with permission management in order to improve device security. IoT device management is design and operating system agnostic, allowing fleets to scale and scale, minimize costs and administrative efforts, and deploy broad and diverse IoT device deployments with the same service. As the Internet of Things (IoT) has become more widely utilized for numerous functions, the market for IoT device management has increased dramatically. Solutions such as real-time analysis, security, and data management have been developed in response to the rapid growth of technology and the need for efficient management of connected devices.
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Rising demand for IoT services, as well as greater penetration of communication and networking technologies, are expected to drive the market over the next few years. The sector has experienced increased investments in R&D activities for the development of technologically advanced IoT systems. As a result, the popularity of IoT device management products has increased. The industry’s key application categories include device provisioning, monitoring, administration, and diagnostics. The IoT Device Management Market is expected to grow at a healthy rate due to the increased demand for enhanced infrastructure management solutions that remove manual hassles in businesses.
The market is divided into solutions and services based on the component. As clients’ security worries about IoT solutions grow, the security solution is the fastest growing in the IoT device management market. Data security gets increasingly difficult as more devices in an IoT system are connected to one another due to device non-standardization and incompatibility. Furthermore, because there are so many different protocols, programs, and devices, hackers/attackers have an easier time carrying out unlawful operations.
On the market, there are three deployment options: public cloud, private cloud, and hybrid cloud. During the forecast period, the hybrid cloud deployment technique is likely to develop at the fastest CAGR, cutting total costs while providing clients with incredibly flexible and extendable access. Vendors provide a hybrid cloud-based deployment technique to clients in order to assist them to save money on infrastructure. Security remains a major barrier to mainstream adoption; however, third-party security testing to the highest standards is gradually decreasing this danger.
IoT Device Management Market: Competitive Landscape
The following companies are some of the top players in the global IoT Device Management market: Advantech Co. Ltd., Aeris Communications LLC, Amazon Web Services Inc., Amplia Soluciones S.L, AVSystem, Bosch.io GmbH, Cumulocity GmbH, Huawei Technologies Co. Ltd., GE Digital, Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Particle Industries Inc., PTC Inc., Silicon Laboratories Inc., Smith Micro Software Inc., Site
The Global IoT Device Management market is segmented as follows:
By Component
Solution
Service
By Solution
Real-Time streaming analytics
Security solution
Data management
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