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IoT Device Management Market Size

Report ID: GMI2868
Published Date: Mar 2022
Report Format: PDF

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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.

IoT Device Management Market

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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 Report Attributes
Report Attribute	Details
Base Year:	2021
IoT Device Management Market Size in 2021:	1.5 Billion (USD)
Forecast Period:	2022 to 2028
Forecast Period 2022 to 2028 CAGR:	25%
2028 Value Projection:	11 Billion (USD)
Historical Data for:	2018 to 2021
No. of Pages:	270
Tables, Charts & Figures:	381
Segments covered:	Component, Deployment model, Application and Region
Growth Drivers:	Rising number of connected devices globally Growing investment in IoT technology Increasing adoption of sensor technology Growing adoption of cloud-computing based IoT device management solution
Pitfalls & Challenges:	Lack of uniform IoT standards for interoperability Data security and privacy concern

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Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size of IoT device management surpassed $1.5 billion in 2021 and is predicted to register more than 25% CAGR during the forecast period of 2022-2028.

Real-time streaming analytic solutions in Canada held over 30% of the market share in 2021 due to the growing data connectivity through the multi-cloud environment and the high demand for real-time technologies like IoT in several initiatives, such as smart cities and Industry 4.0.

The overall market size from the private cloud deployment model in the U.K. may cross 20% CAGR through 2028 as the BYOD trend is picking up the pace and a mobile workforce is being extensively deployed across the country.

Smart manufacturing applications in China are anticipated to record more than 30% CAGR in IoT device management market through 2028 due to the growing demand for a digital transformation of the country’s manufacturing sector.

North America IoT device management industry revenue is projected to exceed $2 billion by 2028 due to the rising investments in IoT technology by public and private sector companies and favorable government initiatives.

Leading organizations, such as Aeris Communications LLC, Advantech Co. Ltd., Amplia Soluciones S.L, Amazon Web Services Inc., Bosch.io GmbH, AVSystem, GE Digital, and Google LLC, among numerous others, are positively contributing to the global market.