The IoT Device Management Market is expected to grow from USD 1838.3 million in 2020 to USD 6254.6 million by 2026 at a CAGR of 22.6% from 2020 to 2026.
Internet of Things (IoT) is a web of devices, vehicles, home appliances and other items installed with software, sensors, electronics and connectivity which facilitate access to objects for connecting and transferring information or data. IoT device management is the process of provision, authentication, configuration, monitor and maintenance of device firmware and software. The IoT device management market is expanding owing to rising concerns over network security enabling the requirement for device connection, both for conventional signature-based software as well as AI-based protection of devices, data and systems. These markets are highly used in the Retail, Transportation & Logistics, Healthcare, Utilities, Manufacturing, among various others. The usage of 5G networks and its support for extensive IoT, connected with Multi-access Edge Computing (MEC), will boost the requirement for IoT device management at the edge of cellular networks in particular. The IoT device management market must develop to fulfill the ever-rising scale and scope of enterprise, consumer, industrial and government solutions and systems. The surging demand for technologically advanced IoT and the rising growth in the educational sector, coupled with rising economies, are leading the growth in the internet of things market. In addition to this, the penetration of networking and communication technologies and the requirement for connected assets, real-time analytics and security of machines have resulted in the selection of IoT device management. On the other hand, the factors such as sluggish digitalization, dearth of common standards, coupled with privacy concerns, are impacting the IoT device management market negatively.
In addition, the industry 4.0 is changing industries, from having legacy systems to smart components and smart machines, to allow digital factories and the development of an ecosystem of linked enterprises and plants. Industry 4.0 has provoked OEMs to deploy IoT devices across their operations. Estimating the rising adoption of IoT devices and digital transformation across industry verticals, the European Commission declared that the value of IoT in Europe itself is projected to exceed EUR 1 trillion in 2020, therefore promoting the market to prosper.
The global IoT Device Management Market is segregated on the basis of component as Solution and Services. Based on Solution the global IoT Device Management Market is segmented in Real-Time Streaming Analytics, Security Solutions, Data Management, Remote Monitoring and Network Bandwidth Management. Based on Service the global IoT Device Management Market is segmented in Professional and Managed. Based on Organization Size the global IoT Device Management Market is segmented in SMEs and Large Enterprise. Based on Vertical the global IoT Device Management Market is segmented in Retail, Healthcare, Transportation & Logistics, Utilities, Manufacturing and Others.
The global IoT Device Management Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The IoT Device Management Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Microsoft Corporation, PTC Incorporation, Telit Communications PLC, IBM Corporation, Oracle Corporation and others are among the major players in the global IoT Device Management Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global IoT Device Management Market has been segmented as below:
IoT Device Management Market, By Component
IoT Device Management Market, By Solution
IoT Device Management Market, By Service
IoT Device Management Market, By Organization Size
IoT Device Management Market, By Vertical
IoT Device Management Market, By Region
IoT Device Management Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global IoT Device Management Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global IoT Device Management Market share. Major industry players with significant revenue share include Microsoft Corporation, PTC Incorporation, Telit Communications PLC, IBM Corporation, Oracle Corporation and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. IoT Device Management Market, By Component
5.1. Key Points
5.2. Solution
5.3. Services
6. IoT Device Management Market, By Solution
6.1. Key Points
6.2. Real-Time Streaming Analytics
6.3. Security Solutions
6.4. Data Management
6.5. Remote Monitoring
6.6. Network Bandwidth Management
7. IoT Device Management Market, By Service
7.1. Key Points
7.2. Professional
7.3. Managed
8. IoT Device Management Market, By Organization Size
8.1. Key Points
8.2. SMEs
8.3. Large Enterprise
9. IoT Device Management Market, By Vertical
9.1. Key Points
9.2. Retail
9.3. Healthcare
9.4. Transportation & Logistics
9.5. Utilities
9.6. Manufacturing
9.7. Others
10. Competitive Landscape
10.1. Introduction
10.2. Start-up companies- IoT Device Management Market
10.3. Recent Developments
10.3.1. Mergers & Acquisitions
10.3.2. New Product Developments
10.3.3. Portfolio/Production Capacity Expansions
10.3.4.Joint Ventures, Collaborations, Partnerships & Agreements
10.3.5. Others
11. Company Profile
11.1. Microsoft Corporation
11.2. PTC Incorporation
11.3. Telit Communications PLC
11.4. IBM Corporation
11.5. Oracle Corporation
11.6. Smith Micro Software, Inc.
11.7. Advantech Co. Ltd.
11.8. Aeris Communications, LLC
11.9. Zentri Inc.
11.10. Cumulocity GmbH
11.11. Enhanced Telecommunications Inc.
11.12. Amplia Soluciones S.L.
11.13. Proximetry, Inc.
11.14. Bosch Software Innovation GmbH
11.15. Wind River Inc.
11.16. SiteWhere LLC
11.17. Xively (Google Inc)
11.18. VMware Inc.
11.19. Matrix42 AG
11.20. Amazon Web Services, Inc.
IoT Device Management Market, By Component
IoT Device Management Market, By Solution
IoT Device Management Market, By Service
IoT Device Management Market, By Organization Size
IoT Device Management Market, By Vertical
IoT Device Management Market, By Company