IoT Device Management Market to Surpass Valuation of US$ 10.42 Bn by 2031: Transparency Market Research

Transparency Market Research delivers key insights on the global IoT device management market. In terms of revenue, the global IoT device management market is estimated to expand at a CAGR of 18.7 % during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global IoT device management market.

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The global IoT device management market is broadly affected by several factors, including end-use market for IoT device management such as industrial, consumer, agricultural, and healthcare.

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IoT Device Management Market: Dynamics

IoT adoption continues to rise globally, as technology evolves, and the IoT ecosystem keeps on becoming complex. The number of connected devices keeps on increasing in order to deliver more data that can increase and improve the proficiency of a business. Increasing adoption of connected devices is driving the demand for managed services, as they enable enterprises to focus on core business operations.

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Globally distributed IoT devices are mostly managed by a public-facing cloud solution, while industrial devices tend to connect to local platforms, often with stringent security requirements. IoT device management ranges from simple exchange of message to complex operations such as software update and deployment of machine learning model.

Rapid development and advancements in IoT devices are driving the IoT device management to develop solutions such as real-time analytics, security solutions, and data management solutions.

IoT Device Management Market: Prominent Regions

In terms of region, the global IoT device management market was dominated by Asia Pacific, and the region is expected to maintain its dominance in the next few years, owing to the rising demand for IoT devices in nations such as China, which is also major manufacturer and supplier of electronics products. Increase in demand and the fact that IoT device management systems are becoming more diverse, have further propelled its demand in developing nations across Asia Pacific such as India.

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IoT Device Management Market: Key Players

Key players operating in the global IoT device management market are Amazon Web Services Inc., ARM Holdings, Robert Bosch GmbH, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Altair SmartWorks, GE Digital, Upswift, and PTC.

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