IoT Device Management Market - By Component (Solution, Service), By Deployment Model (Private Cloud, Hybrid Cloud, Public Cloud), By Application (Smart Manufacturing, Smart Health, Connected Logistics, Smart Utilities, Smart Retail) & Forecast, 2022-2028

IoT Device Management Market Size

IoT Device Management Market size exceeded USD 1.5 billion in 2021 and is estimated to grow at over 25% CAGR between 2022 and 2028.
 

Growing proliferation of connected devices is likely to drive the industry growth. COVID-19 pandemic has increased the adoption of connected devices across various end-user industries due to its easy-to-use features. Connected devices helps in improving customer experiences and provide enhanced services. Moreover, the increasing usage of IoT technology is anticipated to spur market demand of IoT device management. For instance, as per the Ericsson Mobility Report, 40% cellular IoT connections are expected to overtake broadband IoT with 4G connectivity by 2027.
 

The global COVID-19 restrictions resulted in social distancing and increased the demand for IoT technology across various industry verticals such as manufacturing, utilities, retail, and others. This has created more opportunities for market players to develop advanced IoT device management solutions. During pandemic various business organizations has extensively invested in IoT technology as a long-term recovery plan.
 

IoT Device Management Market Analysis

In Canada, the real-time streaming analytics solutions held more than 30% of the IoT device management market in 2021. Increasing data connectivity through multi-cloud environment is boosting the segment demand. The rapid acceptance of real-time technologies such as IoT for various initiatives such as smart cities, industry 4.0 etc. have propelled the demand for real-time streaming analytics solutions.
 

The growing adoption of advanced technologies such as IoT, AI, big data, cloud computing etc. in Canada is further fueling the market revenue. The real time streaming analytics solution is widely adopted by various end-user industries as it offers real-time synchronization and flexibility across cloud environment.
 

IoT device management market from private cloud deployment model segment in the UK is poised to register growth rate of about 20% through 2028. The growth is attributed to the increasing acceptance BYOD trend and deployment of a mobile workforce across the country. During COVID-19, the demand for private cloud solution has increased owing to increases instances of cyberattacks. Private cloud provides advanced privacy and security features in order to protect sensitive and confidential information. Significant cost savings, flexibility and easy to control are the major factors supporting the industry statistics.
 

Moreover, IoT device management companies operating in the country are forming strategic partnership to launch private cloud solutions for IoT devices. For instance, in April 2021, Eurotech partnered with Infineon Technologies, Microsoft and GlobalSign to deliver secured device identity chain from the surface of cloud. Through this partnership the companies have delivered zero touch provisioning for IoT.
 

In China, the smart manufacturing application is slated to observe nearly 30% gains till 2028 led by rising trend of digital transformation across manufacturing sector. Manufacturing enterprises are increasingly adopting advanced technologies such as augmented reality, remote control, and others. For instance, according to report published by Ericsson IndustryLab in 2021, it was reported that manufacturing enterprises will become 80% automated in next 10 years.
 

However, manufacturing enterprises are actively focus on to become more smarter through the development of more advanced production tools such as AI software, co-bots, video recognition, digital twins and remote-controlled vehicles, is providing significant growth opportunities.
 

North America IoT device management market size is predicted to generate USD 2 billion revenue by 2028 impelled by growing investments in IoT technology and favorable government initiatives. The Federal government of U.S. has launched an initiative called “Lab to Market”. The “Lab to Market” is a federal funded R&D program that focuses on increasing the adoption of new technologies. Additionally, the presence major IoT device management companies such as Google LLC, PTC Inc and others are positively influencing the market expansion.
 

IoT Device Management Market Share

The industry participants are forming strategic partnerships to develop advanced & integrated IoT device management platform. For instance, in February 2022, Device Authority partnered with Avnet for end-to-end IoT security management. Through this partnership Avnet has integrated Device Authority’s KeyScaler platform into its cloud computing IoT device management platform to help the customers in managing their connected devices.
 

Some of the major IoT device management market leaders include:

• Advantech Co. Ltd
• Aeris Communications LLC
• Amazon Web Services Inc
• Amplia Soluciones S.L
• AVSystem
• Bosch.io GmbH
• Cumulocity GmbH
• Huawei Technologies Co. Ltd
• GE Digital
• Google LLC
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Particle Industries Inc
• PTC Inc
• Silicon Laboratories Inc
• Smith Micro Software Inc
• SiteWhere LLC
• Telite Communications PLC
• Vodafone Group PLC
• VMware Inc
• Wind River Systems Inc.
   

This market research report on IoT device management includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2028 for the following segments:

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Market, By Component

• Solution
  • Real-Time Streaming Analytics
  • Security Management
  • Remote Monitoring Management
  • Data Management
  • Others
• Service
  • Professional Service
  • Managed Service

Market, By Deployment Model

• Private Cloud
• Hybrid Cloud
• Public Cloud

Market, By Application

• Smart Manufacturing
• Smart Health
• Connected Logistics
• Smart Utilities
• Smart Retail
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia and New Zealand
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Israel