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The Worldwide IoT Device Management Industry is Expected to Reach $7.3 Billion by 2028 at a 32% CAGR

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Global IoT Device Management Market

Global IoT Device Management Market
Global IoT Device Management Market

Dublin, Nov. 22, 2022 (GLOBE NEWSWIRE) -- The "Global IoT Device Management Market Size, Share & Industry Trends Analysis Report By Component, By Vertical, By Organization Size, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Global IoT Device Management Market size is expected to reach $7.3 billion by 2028, rising at a market growth of 32.0% CAGR during the forecast period.

Connected Device administration, provisioning, tracking, and diagnostics are all required for fault replication and remedial steps in the IoT device management industry. The complete IoT device management market is moved by a few key factors, including the complete growth of IoT networks and systems, raising issues over network security, increasing need to observe the health of IoT devices, and the implementation of 5G networks and their assistance for massive IoT, combined with Multi-access Edge Computing (MEC). Additionally, IoT device management systems offer data collecting and analysis.

The evolution of IoT device management has seen tremendous growth in recent years, due to the increasing implementation of mobile devices and smartphones, as well as the growing penetration of the internet. Emerging applications and economic models, as well as dropping device costs and standardization, are driving the expansion of IoT and linked devices.

Additionally, Industry 4.0 is altering industries by enabling digital factories and the establishment of an ecosystem of linked firms and plants by replacing legacy systems with smart machines and smart components. OEMs are adopting IoT devices throughout the operations as part of Industry 4.0.

In anticipation of the greater implementation of IoT devices and digital revolution across industrial verticals, the European Commission estimated that the value of IoT in Europe will surpass EUR 1 trillion in 2020, indicating that the sector will thrive.

COVID-19 Impact Analysis

The COVID-19 pandemic has impacted every aspect of business domain as well as personal lives, comprising corporations from all industries. To handle the exceptional COVID-19 pandemic crisis and get the best possible outcomes in saving a life, money, energy, public sector enterprises and government agencies, IT, telecommunications, and healthcare invested extensively in IoT technology. As a result, increased IoT investment during the pandemic is a major factor in the market's expansion.

Market Growth Factors

Growing Data Security Issues To Boost The Market

The IoT devices management market is being driven by rising concerns about network security, the use of health monitoring and linked medical devices, and the development of 5G networks. The IoT device management market is being driven by a growing awareness of security issues between clients that are using IoT solutions. Because diverse devices are linked to each other in the Internet of Things (IoT), data security gets complicated owing to device non-standardization and incompatibility.

Complexity In Managing Connected Devices is expected to Drive The Market Growth

The IoT device management market is being driven by a surge in the quantity of IoT devices and the difficulty of controlling such devices. IoT devices management software is utilized in a variety of industries, including automotive, manufacturing, and industrial. The solutions let consumers manage linked devices and assets more efficiently by offering authentication, API security, and network security. Consumers will benefit from these solutions in terms of network bandwidth control and remote monitoring.

Market Restraining Factors

Technical Glitches And Complete Reliance On Connectivity And Power

Though it may appear that IoT devices perform simple functions like counting entry swipes at a secure door, they are built with a lot of advanced technology. Furthermore, if they're giving critical data to another workflow or system, everything related to it could suffer. It is not a big concern if the user counts the number of swipes at the entrance wrong, but if another piece of equipment mixes temperature data with entry swipe data, it can be disastrous and correcting the error isn't always simple. Deploying IoT devices can have a steep learning curve. Before obtaining them, it's a good idea to plan out how and why organizations use them.

Report Attribute

Details

No. of Pages

322

Forecast Period

2021 - 2028

Estimated Market Value (USD) in 2021

$1083 Million

Forecasted Market Value (USD) by 2028

$7318 Million

Compound Annual Growth Rate

32.0%

Regions Covered

Global

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Business Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Apr - 2021, Aug) Leading Players

Chapter 4. Global IoT Device Management Market by Component
4.1 Global Solution Market by Region
4.2 Global IoT Device Management Market by Solution Type
4.2.1 Global Device Management Market by Region
4.2.2 Global Real-Time Streaming Analytics Market by Region
4.2.3 Global Remote Monitoring Market by Region
4.2.4 Global Security Solutions Market by Region
4.2.5 Global Network Bandwidth Management Market by Region
4.3 Global Services Market by Region
4.4 Global IoT Device Management Market by Services Type
4.4.1 Global Professional Market by Region
4.4.2 Global Managed Market by Region

Chapter 5. Global IoT Device Management Market by Vertical
5.1 Global Manufacturing Market by Region
5.2 Global Transportation & Logistics Market by Region
5.3 Global Healthcare Market by Region
5.4 Global Retail Market by Region
5.5 Global Utilities Market by Region
5.6 Global Other Vertical Market by Region

Chapter 6. Global IoT Device Management Market by Organization Size
6.1 Global Large Enterprises Market by Region
6.2 Global Small & Medium Enterprises Market by Region

Chapter 7. Global IoT Device Management Market by Region

Chapter 8. Company Profiles
8.1 IBM Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent Strategies and Developments
8.1.5.1 Partnerships, Collaborations, and Agreement:
8.1.5.2 Acquisitions and Mergers:
8.2 Microsoft Corporation
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent Strategies and Developments
8.2.5.1 Partnerships, Collaborations and Agreement:
8.2.5.2 Acquisitions and Mergers:
8.3 Oracle Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent Strategies and Developments
8.3.5.1 Product Launches and Product Expansions:
8.4 Bosch.IO GmbH (Robert Bosch GmbH)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.5 Telit corporate group (DBAY Advisors Limited)
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Partnerships, Collaborations, and Agreements:
8.5.2.2 Product Launches and Product Expansions:
8.6 Smith Micro Software, Inc.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional Analysis
8.6.4 Research & Development Expenses
8.7 Aeris Communications, Inc.
8.7.1 Company Overview
8.7.2 Recent strategies and developments:
8.7.2.1 Partnerships, Collaborations, and Agreements:
8.8 Silicon Laboratories, Inc.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Research & Development Expenses
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.8.5.2 Product Launches and Product Expansions:
8.8.5.3 Acquisition and Mergers:
8.8.5.4 Expansions:
8.9 Advantech Co., Ltd.
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.9.5.2 Product Launches and Product Expansions:
8.10. PTC, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 Recent strategies and developments:
8.10.5.1 Product Launches and Product Expansions:

For more information about this report visit https://www.researchandmarkets.com/r/vhesra

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