IoT Device Management Market - to Exhibit 31.5% CAGR 2017-2025, Thanks to Increased Usage of Data Analytics in Enterprise Sector
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1. Use of IoT in Healthcare Propels Demand
The healthcare industry has been undergoing rapid developments and has been steadfast in introducing adopting new technologies. The use of IoT devices in healthcare has eased several processes within the industry and has improved the overall effectiveness index of the industry. Furthermore, monitoring the health of patients and prescribing medications by means of smart devices has been a key driver of demand within the global market for IoT device management. Besides this, the use of IoT devices has aided the treatment of the growing geriatric population, and this further enhances the growth prospects of the global market.
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2. North American Dominance
There is no contention about the fact that the technological fettle in the US reigns supreme over all other regions. Owing to this factor, the adoption rate of advanced technologies such as IoT devices has been higher in the country. This has in turn enhanced the growth prospects of the market for IoT device management in North America. Moreover, the concept of smart homes in the US and Canada has also fortified the market in North America.
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3. Market Players
The leading market players in the global market for IoT device management market have established their strongholds across the world. This has left little space for the new entrants to prosper and has compelled the latter to form alliances for their sustenance. Some of the key players in the market are Google, IBM Corporation, Intel Corporation, and Oracle Corporation.
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