Global IoT Device Management Market, Trends & Analysis - Forecasts To 2026 By Component (Solution, Service), By Solution (Real-Time streaming analytics, Security solution, Data management, Remote monitoring, Network bandwidth management), By Service (Professional services, Managed services), By Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), By Deployment (Public cloud, Private cloud, Hybrid cloud), By Application (Smart retail, Connected health, Connected logistics, Smart utilities, Smart manufacturing, Others), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
IoT Device Management Market: Insights
The global IoT device management market is estimated to witness a significant CAGR during the forecast period (2019-2026). The growth of the IoT device management market is anticipated to increase with the proliferation of intelligent connected devices, along with other factors, such as critical need for converged device management platform, adoption of device and vendor agnostic platforms among others. The market is also expected to grow owing to increase in the penetration of communication and networking technologies and the requirement for real-time analytics, connected assets, and security of machines; are some of the driving factors behind the growth in the market. These devices support provisioning and authentication, configuration and control, software updates and maintenance, and monitoring and diagnostics of connected devices, which is expected to boost the growth in the global IoT device management market. Absence of Uniform IoT Standards for interoperability and growing incidence of cybercrime are some of the factors expected to hamper the growth of global IoT device management market.
IoT Device Management Market: By Component
On the basis of component, the global IoT device management market is segmented into solution and services. The solution segment is expected to grow during the forecast period, owing to security concern. Solutions is increasing among clients who are deploying IoT solutions owing to security concerns. As various devices are connected to each other in an IoT system, in which security of data becomes complex owing to the non-standardization and non-compatibility of devices.
IoT Device Management Market: By Solution
On the basis of solution, the global IoT device management market is classified into real-time streaming analytics, security solution, data management, remote monitoring and network bandwidth management. The security solution segment is expected to hold the largest market share in the application segment. The growth of the segment can be attributed to growing concerns over network security facilitating the need for device interaction, both for traditional signature-based software as well as AI-based protection of devices, data, and systems. Security goes beyond access which includes device & network/system and also includes data security/privacy as well as securing proper decisions consisting of ensuring that autonomous processes are carried forth in a manner that is not detrimental.
IoT Device Management Market: By Service
On the basis of service, the global IoT device management market is segmented into professional services and managed services. The professional services is expected to grow during the forecast period, owing to lot of usage in various companies across the globe.
IoT Device Management Market: By Organization Size
On the basis of organization size, the global IoT device management market is segmented into small and medium-sized enterprises (SMEs), and large enterprises. The small and medium-sized enterprises (SMEs) segment is expected to grow during the forecast period. These enterprises face some specific challenges like the necessity of domain-specific technical personnel and skilled workforce, budget constraint, and limited financial prudence of scale. Increasing competition has encouraged SMEs to invest in disruptive technology and adopt go-to-market strategies to make effective decisions for business growth.
IoT Device Management Market: By Deployment
On the basis of deployment, the global IoT device management market is segmented into public cloud, private cloud and hybrid cloud. The hybrid cloud is expected to grow during the forecast period. In a hybrid cloud, data and applications can move between private and public clouds for greater flexibility and more deployment options and also it is cost effective as well. A private cloud consists of computing resources which is to be used exclusively by only one business or organization. The private cloud can be physically located in the organization or it can be hosted by a third-party service provider. But in case of a private cloud, the infrastructure and services are always maintained on a private network and the hardware and software are only used by a single organization.
IoT Device Management Market: By Application
On the basis of application, the global IoT device management market is segmented into smart retail, connected health, connected logistics, smart utilities, smart manufacturing and others. The smart retail market is expected to grow during the forecast period, owing to large online purchases across the globe. Smart retail is a set of smart technologies that are designed to give the consumer a greater, faster, safer and smarter experience when shopping. In-store mobile marketing is becoming increasingly more sophisticated, and is being used more-and-more by retailers around the globe. The connected health segment is also expected to grow during the forecast period. Connected health is a social model for healthcare management and delivery and by using this technology it helps to provide healthcare services in remote areas as well. In hospitals, there are even sensors that are being placed in teddy bears to monitor the health of sick children in discreet and non-threatening ways.
IoT Device Management Market: By Region
North America region is estimated to dominate the growth in the global IoT device management market. The dominant position in the market is attributed to the increasing adoption of advanced IoT technologies and the high investment power of the key players to secure and properly manage their IoT and cloud computing networks.
Asia Pacific is expected to witness considerable growth in the IoT device management market. The growth of the market in the region can be attributed to rapid expansion of the IT industries. High broadband speed and innovative infrastructure in the developed countries are increasing the consumption of smart devices which are expected to have positive impact on the IoT Device Management market in the region. The market of IoT device management is also expected to grow in Middle East and Africa. Increased foreign direct investment is one of the major factors propelling the market growth in MEA region.
IoT Device Management Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase IoT device management. The key end-users of the markets are Fortis, Walmart and Amazon among others.
IoT Device Management Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
IoT Device Management Market Share & Competitor Analysis
Some of the key players operating in the IoT Device Management market are Aeris, Amplia Soluciones S.L., Cumulocity GmbH, Enhanced Telecommunications Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, PTC Incorporation, Smith Micro Software, Inc, Telit Communications PLC, Wind River, Xively and Zentri among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In November 2019, Oracle Corporation expanded its Chicago Innovation Lab, which aimed at empowering more organizations to explore new technologies and strategies to boost their digital transformation efforts.
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The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the IoT Device Management Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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