IoT Device Management Market New Growth and Opportunity By Key Players 2024: Telit, Amazon Web, Smith Micro Software, IBM, Microsoft, Oracle

Market Overview: -

IoT Device Management Market is anticipated to witness healthy growth to 2024, owing to the rising demand for advanced infrastructure management solutions that are reducing the manual complexities in organizations. Regular maintenance of these devices is an essential and a complex task to be performed manually, owing to which device management services are being used by companies for managing multiple networks and devices.

Components, such as sensors, routers, and modems, are prone to cyber-attacks that may fail during the operation. The IoT device management market is driven by the need to extend device capabilities and ensure data security in these systems. The system ensures supercharging of IoT applications by adding user-defined attributes and only specific data is provided to pre-authorized users and recipients.

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Top Key Players:-

Companies operating in the IoT device management market include Telit, Amazon Web Services, Inc., VMware, Smith Micro Software, IBM, Inc., Microsoft, and Oracle. The players have adopted strategies such as new product development, innovation, merger, acquisition, collaboration, and partnership.

Market share calculation in this report is not done based on companies covered in it. The calculation of IoT device management market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations:-

The U.S. dominates the IoT device management market. The high demand for management solution in this region is attributed to the early adoption of advanced IoT technologies and high investment power of the major players to secure and properly manage their IoT and cloud computing networks. High broadband speed and advanced infrastructure in the country are fueling the consumption of smart devices incorporating these technologies as they require extremely efficient internet facilities for their operations. Countries including China and India are expected to witness a high IoT device management market demand due to the rapid industrial boom and growth of the IT industries.

Additionally, there are governmental provisions, such as huge investments of the Chinese government, in IoT for development and strong connectivity. The growing development of SMEs in India owing to the provisions, such as tax exemptions, easier capital fund availability, and land sanctions, is aiding the implementation of these IoT device management solutions to support the technical advancements in device operations and management.

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Large enterprises have changed their stance on the usage of managed print services and SMEs have started adopting these services aggressively. They are positive about the ROI in the technology; hence, as the market matures, it will bring in opportunities to drive business efficiency, especially in terms of digital transformation that is estimated to increase exponentially. However, product verification, optimization of the product, real-time quality, and monitoring of the services may impact the managed print services market growth over the forecasted timeline.

The technology can be delivered in the market through on-premise and cloud models. Large enterprises are deploying on-premise models as they want to have a control over their data and SMEs are inclined toward the cloud model due to its cost benefits and flexibility. Cloud model features will make the market more attractive over the forecast period and ensure that the products stay relevant. Thus, vendors offering MPS are collaborating with cloud providers to deliver their products to customers. The majority of the market revenue comes from IT & telecom, BFSI, healthcare, retail, manufacturing, and education industries.

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