The global IoT device management market is expected to cross the value of US$ 10.42 Bn by the end of 2031 and is estimated to expand at a CAGR of 18.7% from 2021 to 2031.
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Transparency Market Research delivers key insights on the global IoT device management market. In terms of revenue, the global IoT device management market is estimated to expand at a CAGR of 18.7 % during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global IoT device management market.
The global IoT device management market is broadly affected by several factors, including the end-use market for IoT device management such as industrial, consumer, agricultural, and healthcare.
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IoT Device Management Market: Dynamics
IoT adoption continues to rise globally, as technology evolves, and the IoT ecosystem keeps on becoming complex. The number of connected devices keeps on increasing in order to deliver more data that can increase and improve the proficiency of a business. Increasing adoption of connected devices is driving the demand for managed services, as they enable enterprises to focus on core business operations.
Globally distributed IoT devices are mostly managed by a public-facing cloud solution, while industrial devices tend to connect to local platforms, often with stringent security requirements. IoT device management ranges from a simple exchange of messages to complex operations such as software updates and the deployment of machine learning models.
Rapid development and advancements in IoT devices are driving IoT device management to develop solutions such as real-time analytics, security solutions, and data management solutions.
IoT Device Management Market: Prominent Regions
In terms of region, the global IoT device management market was dominated by the Asia Pacific, and the region is expected to maintain its dominance in the next few years, owing to the rising demand for IoT devices in nations such as China, which is also major manufacturer and supplier of electronics products. An increase in demand and the fact that IoT device management systems are becoming more diverse, have further propelled its demand in developing nations across the Asia Pacific such as India.
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IoT Device Management Market: Key Players
Key players operating in the global IoT device management market are Amazon Web Services Inc., ARM Holdings, Robert Bosch GmbH, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Altair SmartWorks, GE Digital, Upswift, and PTC.
Global IoT Device Management Market: Segmentation
IoT Device Management Market, by Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
IoT Device Management Market, by Application
- Smart Manufacturing
- Smart Homes
- Smart Utilities
- Smart Retail
- Connected Health
- Smart Transportation
IoT Device Management Market, by Solution
- Security Solution
- Data Management
- Remote Monitoring
- Network Bandwidth Management
About Transparency Market Research
Transparency Market Research, a global market research company registered in Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analyzed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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