NextGen Frontier for IoT Device Management Market Technologies Industry Know How By 2025

IoT device management comprises of multiple operating systems and several varieties of communication methods and protocols targeted at conducting smooth functioning of smart devices. The service of IoT device management has become vital for the business sector in recent years due to the rising use of remote operation in a number of industries and the subsequent need to manage the operation of the devices.

The global IoT device management market is expected to exhibit a robust 31.5% CAGR from 2017 to 2025.

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The importance of data analytics to the functioning and operation of a business has increased to a great extent in recent years. With the rising penetration of the internet, large volumes of data are being produced on a daily basis, which raises the need for progressive data management tools. As smart technology becomes popular these days, IoT devices have correspondingly become key producers of digital information. IoT device management systems allow players to collect, collate, and analyze these data, which has triggered rapid growth of the IoT device management market in recent years.

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From a geographical standpoint, the market for IoT device management in North America accounted for the dominant share in the overall market in 2016, thanks to the high adoption of smart devices across enterprises, homes, and industries. The market in Asia Pacific, on the other hand, is expected to expand at an estimated CAGR of 33.4% over the forecast period, surpassing other key regional market in terms of growth opportunities and growth rate.

One of the key growth factors for the global IoT device management market is the widespread adoption of several IoT technologies across enterprises and the rising popularity and consumer base of smart home technology in a number of developed economies across regions such as Europe and North America.

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Developed economies in these regions also feature the presence of a number of leading contributors to the IoT device management market, making distribution of innovative products much easier as compared to other regions.

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