IoT Device Management Market to witness phenomenal growth by large enterprises’ segment | Focus on Top Companies Telit, Amazon Web Services, VMware, Smith Micro Software, IBM, Microsoft and Oracle

The large enterprises’ segment in the IoT device management market is expected to witness a high growth over the forecast period. The growth in this segment is attributed to the increased implementation of IoT network and devices in organizations as a part of digitization and high investment capabilities in this sector for efficient performance and productivity to serve the customers better. Small and medium-sized enterprises are anticipated to generate a high demand for these solutions in the IoT device management market over the coming years.

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A major challenge for the IoT device management market is the issue with cybersecurity in the device and network level. Occurrences, such as hacking of systems, servers, and browsers, can make the network unsafe for use, resulting in the loss of important data, increased cost for installation of new devices, and theft of vital organizational data such as financial information and customer information. These issues can be overcome by regular system upgrades and frequent changes of user credentials. The scalability of the systems and devices is a hurdle in the IoT device management market.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Telit
2. Amazon Web Services
3. VMware
4. Smith Micro Software
5. IBM
6. Microsoft
7. Oracle

The IoT device management market segmented by the deployment model indicates that the private cloud segment is holding the largest market share and is expected to sustain growth over the forecast period. The combination of the IoT network with private cloud meets all the IoT infrastructure demands while all the government regulations & compliances are met with the implementation of private cloud management solutions that are easily integrated with the existing IoT network infrastructure. The public cloud demand is growing steadily in the IoT device management market. The growth is attributed to reduced implementation cost when compared to the private alternatives. These provide benefits to the organizations such as low maintenance, massive economies of scale, and easy installation. The public cloud segment includes less risk failure and high flexibility without involving redundancy.

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Rapidly-growing demand for IoT solutions in all industry verticals and the benefits of this network, such as connected computing, marketing automation, and supply chain analytics, are fueling the IoT device management market growth. The increased penetration of networking and communication technologies and the need for digitization across the world are boosting the usage of IoT and cloud-based technologies. These technologies provide several benefits to enterprises such as hyperconnected system operators, reduced operational cost through automation, and activated configurations. The technology is increasingly used in smart and connected devices due to the scalability and easy upgradability features. These include smart home automation devices and intelligent gadgets such as watches and smart water meters, thereby providing an impetus to the IoT device management market.

The smart manufacturing end-use segment in the IoT device management market has witnessed a high growth in the recent years owing to the high adoption of industrial IoT in the manufacturing and production sector. This software allows users to collect and analyze data to make better & informed decisions and optimize production. The smooth working of these systems is possible only by implementing an efficient management solution. The smart homes segment is steadily rising in the IoT device management market. The growth is attributed to the need for secured networking systems in modern homes to be secure from theft and the ease in using modern implementations.

A major trend in the IoT device management market is the implementation of the solutions in the industrial sector owing to the digitization of supply chain and manufacturing procedures. Industrial IoT is growing due to the reduction in the operational cost of the industrial activities. It also aids in process automation, increasing productivity, and eliminating manual challenges. The concept of Industrial IoT allows OEMs to incorporate the benefits of IoT in industrial operations, increasing the need to manage complex IoT networks in the industries. The implementation of device management solutions at this stage is essential for industries, fueling the demand for the IoT device management market. The management systems have a scope for improvement in managing IoT devices such as enhanced productivity, real-time device monitoring and updating, increased customer reliability, and data security.

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