DUBLIN, December 1, 2022 /PRNewswire/ — The report “Global IoT Device Management Market Size, Share, and Industry Trend Analysis by Component, by Vertical, by Organization Size, by Regional Outlook and Forecast, 2022-2028” has added to report from ResearchAndMarkets.com offer.
The Global IoT The device management market size is expected to reach $7.3 billion by 2028, with market growth of 32.0% CAGR during the forecast period.
Connected device administration, provisioning, tracking, and diagnostics are all necessary for fault replication and corrective steps in the IoT device management industry. The comprehensive IoT device management market is influenced by a few key factors, including the comprehensive growth of IoT networks and systems, raising network security concerns, growing need to observe the health of IoT devices, and the implementation implementation of 5G networks and their support for massive IoT, combined with Multi-access Edge Computing (MEC). Additionally, IoT device management systems offer data collection and analysis.
The evolution of IoT device management has witnessed phenomenal growth in recent years, due to the increasing implementation of mobile devices and smartphones, as well as the increasing penetration of the Internet. Emerging applications and business models, along with falling device costs and standardization, are driving the expansion of IoT and related devices.
Additionally, Industry 4.0 is changing industries by enabling digital factories and the creation of an ecosystem of linked businesses and factories by replacing legacy systems with smart machines and smart components. OEMs are adopting IoT devices throughout their operations as part of Industry 4.0.
In anticipation of greater implementation of IoT devices and the digital revolution in industry verticals, the European Commission has estimated that the value of IoT in Europe will exceed 1 trillion euros in 2020, indicating that the sector will thrive.
COVID-19 Impact Analysis
The COVID-19 pandemic has impacted all aspects of business as well as personal life, comprising businesses across all industries. To manage the exceptional crisis of the COVID-19 pandemic and achieve the best possible results in saving life, money, energy, public sector businesses and government agencies, IT, telecommunications and healthcare has invested heavily in IoT technology. As a result, increased investment in IoT during the pandemic is a major driver for market expansion.
Market Growth Factors
Growing Data Security Concerns to Drive Market
The IoT device management market is driven by growing concerns over network security, the use of health monitoring and related medical devices, and the development of 5G networks. The IoT device management market is driven by a growing awareness of security issues among customers using IoT solutions. Since various devices are linked with each other in the Internet of Things (IoT), data security becomes complicated due to non-standardization and incompatibility of devices.
The complexity of managing connected devices is expected to drive market growth
The IoT device management market is driven by an increase in the amount of IoT devices and the difficulty of controlling these devices. IoT device management software is used in a variety of industries including automotive, manufacturing, and industrial. The solutions enable consumers to more effectively manage devices and related assets by providing authentication, API security, and network security. Consumers will benefit from these solutions in terms of network bandwidth control and remote monitoring.
Market restraining factors
Technical issues and total dependency on connectivity and power
While it may seem like IoT devices perform simple functions like counting entry swipes at a secure door, they are built with a lot of advanced technology. Also, if they pass critical data to another workflow or system, everything related to it could suffer. It’s not a big problem if the user miscounts the number of input scans, but if some other equipment mixes the temperature data with the input scan data, it can be disastrous and fix the error is not always easy. Deploying IoT devices can have a steep learning curve. Before obtaining them, it is a good idea to plan how and why organizations use them.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
2.1 Presentation
2.1.1 Presentation
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints
Chapter 3. Competitive Analysis – Global
3.1 Cardinal matrix KBV
3.2 Recent Industry-Wide Strategic Developments
3.2.1 Partnerships, collaborations and agreements
3.2.2 Product launches and product extensions
3.2.3 Acquisitions and mergers
3.2.4 Business expansions
3.3 Main winning strategies
3.3.1 Key Primary Strategies: Percentage Breakdown (2018-2022)
3.3.2 Key Strategic Movement: (Partnerships, Collaborations and Agreements: 2018, April – 2021, August) Key Players
Chapter 4. Global IoT Device Management Market by Component
4.1 Global Solutions Market by Region
4.2 Global IoT Device Management Market by Solution Type
4.2.1 Global Device Management Market by Region
4.2.2 Global Real-Time Streaming Analytics Market by Region
4.2.3 Global Remote Monitoring Market by Region
4.2.4 Global Security Solutions Market by Region
4.2.5 Global Network Bandwidth Management Market by Region
4.3 Global Services Market by Region
4.4 Global IoT Device Management Market by Service Type
4.4.1 Global Professional Market by Region
4.4.2 Global Managed Market by Region
Chapter 5. Global IoT Device Management Market by Vertical
5.1 Global Manufacturing Market by Region
5.2 Global Transportation and Logistics Market by Region
5.3 Global Healthcare Market by Region
5.4 Global Retail Market by Region
5.5 Global Utilities Market by Region
5.6 Global Other Verticals Market by Region
Chapter 6. Global IoT Device Management Market by Organization Size
6.1 Global Large Enterprise Market by Region
6.2 Global Small & Medium Enterprise Market by Region
Chapter 7. Global IoT Device Management Market by Region
Chapter 8. Business Profiles
8.1 IBM Corporation
8.1.1 Company Overview
8.1.2 Financial analysis
8.1.3 Regional and sectoral analysis
8.1.4 Research & Development expenses
8.1.5 Strategies and recent developments
8.1.5.1 Partnerships, collaborations and agreement:
8.1.5.2 Acquisitions and Mergers:
8.2 Microsoft Corporation
8.2.1 Company Overview
8.2.2 Financial analysis
8.2.3 Sectoral and regional analysis
8.2.4 Research & Development expenses
8.2.5 Strategies and recent developments
8.2.5.1 Partnerships, collaborations and agreement:
8.2.5.2 Acquisitions and Mergers:
8.3 Oracle Corporation
8.3.1 Company Overview
8.3.2 Financial analysis
8.3.3 Sectoral and regional analysis
8.3.4 Research and development costs
8.3.5 Strategies and recent developments
8.3.5.1 Product launches and product extensions:
8.4 Bosch.IO GmbH (Robert Bosch GmbH)
8.4.1 Company Overview
8.4.2 Financial analysis
8.4.3 Sectoral and regional analysis
8.4.4 Research & Development expenses
8.4.5 Strategies and recent developments:
8.4.5.1 Partnerships, collaborations and agreements:
8.4.5.2 Product launches and product extensions:
8.5 Telit Group of Companies (DBAY Advisors Limited)
8.5.1 Company Overview
8.5.2 Strategies and recent developments:
8.5.2.1 Partnerships, collaborations and agreements:
8.5.2.2 Product launches and product extensions:
8.6 Smith Micro Software, Inc.
8.6.1 Company Overview
8.6.2 Financial analysis
8.6.3 Regional Analysis
8.6.4 Research and development costs
8.7 Aeris Communications, Inc.
8.7.1 Company Overview
8.7.2 Strategies and recent developments:
8.7.2.1 Partnerships, collaborations and agreements:
8.8 Silicon Laboratories, Inc.
8.8.1 Company Overview
8.8.2 Financial analysis
8.8.3 Regional Analysis
8.8.4 Research and development costs
8.8.5 Strategies and recent developments:
8.8.5.1 Partnerships, collaborations and agreements:
8.8.5.2 Product launches and product extensions:
8.8.5.3 Acquisition and merger:
8.8.5.4 Extensions:
8.9 Advantech Co., Ltd.
8.9.1 Company Overview
8.9.2 Financial analysis
8.9.3 Sectoral and regional analysis
8.9.4 Research and development costs
8.9.5 Strategies and recent developments:
8.9.5.1 Partnerships, collaborations and agreements:
8.9.5.2 Product launches and product extensions:
8.10. PTC, Inc.
8.10.1 Company Overview
8.10.2 Financial analysis
8.10.3 Sectoral and regional analysis
8.10.4 Research and development costs
8.10.5 Strategies and recent developments:
8.10.5.1 Product launches and product extensions:
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