This report describes the global market size of IoT device management market from 2018 to 2021 and its CAGR from 2018 to 2021, and also forecasts its market size to the end of 2030 and it is expected to grow with a CAGR of 35% from 2023 to 2030.
IoT Device Management describes procedures for registering, configuring, and provisioning connected devices as well as for maintaining and monitoring them. The need for IoT device management is anticipated to increase as businesses place a greater emphasis on managing connected devices and enhancing operational efficiencies across industry verticals. To stay competitive in the industry, major firms are introducing new goods and services. The leading participants in the IoT sector are launching a number of projects to standardise protocols, including the creation of the Open Mobile Alliance (OMA), which has helped the sector expand.
Due to the COVID-19 pandemic and Russia-Ukraine war influence, the global market for IoT device management market estimated at US $ million in the year 2022, is projected to reach a revised size of US$ million by 2030, growing at a CAGR of 35% during the forecast period 2023-2030. North American market for IoT device management Market is estimated to increase from $million in 2022 to reach $ million by 2030, at a CAGR of XX% during the forecast period of 2023 through 2030.
For geography segment, regional supply, demand, major players, price is presented from 2018 to 2030. This report covers following regions:
North America
Asia-Pacific
Europe
Middle East and Africa
South America
The key countries for each region are also included such as United States, China, Japan, India, Korea, Germany, France, UK, Italy, Spain, and Brazil etc.
For competitor segment, the report includes global key players of IoT device management Market as well as some small players. The information for each competitor includes:
Company Profile
Main Business Information
SWOT Analysis
Sales Volume, Revenue, Price and Gross Margin
Market Share
By Category
Solution
Services
In 2022, the solutions section accounted for a sizeable portionmore than 45.5%of total revenue. The expanding need for IoT device management solutions across the automotive, manufacturing, and healthcare industries is mostly to blame for the rise of this market segment. The growing demand for data-driven decisions to improve the profitability and productivity of corporate operations is another factor driving up the uptake of IoT solutions.
During the anticipated period, the services category is anticipated to increase at a notable rate. It is predicted that the category would rise as a result of the expanding adoption of IoT solutions and the rising need for support and maintenance services. Additionally, the increasing use of cloud-based solutions is anticipated to boost demand for implementation and deployment services, which is anticipated to present the market with a number of possibilities over the course of the anticipated year.
By Organization Size
Large Enterprises
Small & Medium Enterprises (SMEs)
2022 revenue was almost 61% from large organisations. Large firms will embrace IoT device management to efficiently manage their vast consumer datasets and equipment & business operating data. Large organisations are investing more in intelligent and connected solutions to manage and streamline industrial processes on a centralised platform, driving segment development.
SMEs are expected to increase rapidly over the forecast period. SME growth in Singapore, India, and China has driven segment growth. Government funding of SMEs' digitalization efforts is expected to boost the market. Cloud-based IoT device management attracts SMEs due to cheaper service costs, which is good for industry growth.
By Vertical
Retail
Healthcare
Transportation
Utilities
Manufacturing
Others
In 2022, manufacturing generated over 36% of revenue. The manufacturing sector's desire for digital transformation drives this segment's size. The increased dependence of manufacturers on connected devices to optimise industrial operations, boost productivity, and shorten time-to-market allows users to make smart decisions about the latest technology to meet their demands. Manufacturers implemented innovative solutions to boost business productivity and profitability due to the growing requirement to stand out in global competitiveness.
Healthcare is projected to increase quickest. During the COVID-19 epidemic, healthcare providers invested heavily in real-time IoT technologies. The market is also expected to benefit from the rising need for personalised healthcare and digital transformation in the healthcare sector.
By Region
North America
APAC
Europe
South America
Middle East & Africa
In 2022, North America dominated the market globally, accounting for a maximum revenue share of more than 30.5%. Due to the presence of information and communications technology (ICT) infrastructure and a high adoption rate of connected devices, the region is predicted to continue expanding at a steady CAGR and maintain its leadership position during the projected period. The expansion of the region is also aided by the strong economy of the area and the presence of numerous well-known businesses.
Regional firms are launching products, partnering, merging, and acquiring to boost their market share. During the projection period, Asia Pacific is expected to increase significantly. The region's expansion is due to the rise of connected gadgets, high population density, and high-speed data networks. In addition, governments' increasing focus on introducing small and medium-sized firms with widespread use of intelligent devices is expected to present many potential possibilities to the market throughout the projection period.
By Company
Bosch Software Innovation GmbH
Smith Micro Software, Inc.
Advantech Co. Ltd.
International Business Machines Corp.
Aeris Communication, Inc.
Microsoft Corp.
Oracle Corp.
PTC Inc.
Other Key Players
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Base Year: 2022
Historical Data: from 2018 to 2021
Forecast Data: from 2023 to 2030
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