IoT Device Management Market - IoT Technologies Across Enterprises Booming Demands

The global IoT device management market is likely to progress at staggering CAGR of 31.5% during the forecast period between 2017 and 2025.

Depending upon the size of the organization, in 2016 large enterprises held the maximum share in the global market. Growing employment of innovative technology and increasing focus on research and development activities have created huge opportunity for larger enterprises to adopt IoT device management. Based on geography, North America led the market and held larger share in the market in 2016. On the other hand, Asia pacific is likely to rise at 33.4% CAGR in the coming years.

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Rising Preference for Smart Home Technology to Drive IoT Device Management Market

Rapid technological developments and widespread adoption of several IoT technologies across enterprises are the key factors driving the global IoT device management market. Growing popularity and increasing preference of consumers to use smart home technology in developed economies have also boosted the demand for IoT device management services. On developing economies, the presence of large number of IoT device management distributors of innovative products have pushed the demand in the IoT device management market.

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In addition, growing use of data analytics to understand consumer choices and trends by various businesses has also boosted the demand for IoT devices management. Configuration and control, monitoring and diagnostics of connected devices, software updates and maintenance, and provisioning and authentication has also grown the demand for IoT devices management that is expected to further drive the market performance.

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