The IoT Device Management market was worth around USD 1,295.10 million in 2021 and is predicted to grow to approximately USD 5830.72 million by 2028, at a CAGR of approximately 28.50% over the forecast period. This analysis examines important companies, cutting-edge technologies, market share, and growth.
IoT Device Management Market: Overview
IoT Device Management makes it easier to remotely register, monitor, organize, and manage large-scale IoT devices. IoT Device Control aids in permission management, which improves device security. IoT device management is independent of design and operating system, allowing fleets to scale and scale, save costs and administrative labor, and deploy broad and diversified IoT device deployments with the same service. The market for IoT device management has grown substantially as the Internet of Things (IoT) has become more frequently used for a variety of purposes. In response to the rapid advancement of technology and the necessity for efficient management of connected devices, solutions such as real-time analysis, security, and data management have been developed.
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Rising demand for IoT services, as well as increased adoption of communication and networking technologies, are likely to propel the market in the coming years. Increased investments in R&D activities for the development of technologically advanced IoT systems have occurred in the sector. As a result, IoT device management products have grown in popularity. Device provisioning, monitoring, administration, and diagnostics are among the industry’s most important application categories. Because of the rising need for improved infrastructure management solutions that eliminate manual headaches in enterprises, the IoT Device Management Market is predicted to grow at a healthy rate.
Based on the component, the market is segmented into solutions and services. As clients’ concerns about the security of IoT solutions develop, 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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