Segments - by Component (Platform, Services), by Deployment Mode (On-Premises, Cloud), by Organization Size (Large Enterprises, Small and Medium Enterprises), by Application (Smart Manufacturing, Smart Healthcare, Smart Retail, Smart Transportation & Logistics, Smart Energy & Utilities, Others), by End-User (BFSI, Healthcare, Retail, Manufacturing, IT & Telecommunications, Others)
According to our latest research, the global IoT Device Management market size in 2024 stands at USD 3.8 billion, with a robust compound annual growth rate (CAGR) of 24.2% projected through 2033. This impressive momentum is expected to drive the market to a forecasted value of USD 29.1 billion by 2033. The primary growth factors include the accelerating adoption of IoT devices across industries, the increasing need for secure and efficient device management solutions, and the expansion of smart applications in sectors such as manufacturing, healthcare, and transportation. As per the latest research, the surge in connected devices and the evolving regulatory landscape are also fueling innovation and investment in the IoT Device Management market.
The rapid proliferation of IoT devices across diverse industry verticals is a critical driver for the IoT Device Management market. Organizations are increasingly deploying a wide array of connected devices to enhance operational efficiency, reduce costs, and gather actionable insights from real-time data. This device explosion necessitates robust management platforms capable of provisioning, monitoring, updating, and securing devices at scale. Furthermore, the growing complexity of IoT ecosystems, including the integration of legacy systems and heterogeneous devices, is compelling enterprises to invest in advanced device management solutions. These solutions enable seamless device onboarding, policy enforcement, and lifecycle management, ensuring the reliability and security of IoT deployments.
Security concerns are another significant growth catalyst in the IoT Device Management market. As IoT devices become integral to critical infrastructure and business operations, the risk of cyberattacks and data breaches escalates. Device management platforms are evolving to incorporate advanced security features such as real-time threat detection, automated firmware updates, and secure authentication protocols. This heightened focus on security is driving demand for comprehensive device management solutions that can safeguard sensitive data, ensure regulatory compliance, and minimize operational disruptions. Additionally, the increasing adoption of cloud-based management platforms is enabling organizations to centralize control, streamline updates, and scale their IoT ecosystems efficiently.
The advent of edge computing and 5G connectivity is further propelling the growth of the IoT Device Management market. Edge computing enables real-time data processing closer to the source, reducing latency and enhancing the performance of time-sensitive applications. This paradigm shift is increasing the complexity of device networks, necessitating advanced management capabilities to orchestrate devices at the edge. Meanwhile, 5G networks are expanding the potential for IoT applications by offering higher bandwidth, lower latency, and greater device density. These technological advancements are encouraging organizations to deploy more sophisticated IoT solutions, thereby increasing the demand for scalable and intelligent device management platforms.
Regionally, North America continues to dominate the IoT Device Management market, driven by its mature IoT ecosystem and high technology adoption rates. However, the Asia Pacific region is emerging as the fastest-growing market, fueled by rapid industrialization, smart city initiatives, and significant investments in digital infrastructure. Europe also represents a substantial market, with stringent regulatory frameworks and a strong focus on data privacy and security. The Middle East & Africa and Latin America are witnessing steady growth, supported by increasing IoT adoption in sectors such as energy, utilities, and transportation. Each region presents unique opportunities and challenges, shaping the competitive landscape and strategic priorities of market participants.
The IoT Device Management market is segmented by component into Platform and Services, each playing a pivotal role in the deployment and maintenance of IoT infrastructures. Platforms serve as the backbone of device management, offering centralized control over device provisioning, monitoring, diagnostics, and updates. These platforms are evolving rapidly to support a growing array of device types, communication protocols, and integration requirements. Key features such as automated onboarding, remote configuration, and policy management are becoming standard, enabling organizations to manage complex IoT environments with greater efficiency and security. As IoT deployments scale, the demand for robust, scalable, and interoperable platforms is expected to intensify, driving innovation and competition among solution providers.
Services, on the other hand, encompass a broad spectrum of offerings, including consulting, integration, support, and managed services. These services are essential for organizations seeking to maximize the value of their IoT investments while minimizing operational risks. Consulting services help enterprises assess their IoT readiness, define management strategies, and design customized solutions tailored to specific business needs. Integration services ensure seamless connectivity between devices, platforms, and enterprise systems, while support and managed services provide ongoing monitoring, maintenance, and troubleshooting. The rising complexity of IoT ecosystems and the shortage of in-house expertise are fueling demand for specialized services, making this segment a critical growth area within the IoT Device Management market.
The synergy between platforms and services is crucial for the successful deployment and operation of IoT solutions. While platforms provide the technological foundation for device management, services bridge the gap between technology and business objectives. Service providers are increasingly offering end-to-end solutions that encompass device selection, platform implementation, integration, and lifecycle management. This holistic approach enables organizations to accelerate time-to-market, reduce total cost of ownership, and ensure the long-term success of their IoT initiatives. As the market matures, we anticipate a growing emphasis on value-added services such as analytics, security, and compliance management, further expanding the scope of the services segment.
Innovation in both platform and service offerings is being driven by advancements in artificial intelligence, machine learning, and automation. AI-powered platforms are enabling predictive maintenance, anomaly detection, and automated decision-making, enhancing the efficiency and reliability of device management operations. Similarly, service providers are leveraging automation tools to streamline device onboarding, configuration, and monitoring processes, reducing manual intervention and operational overhead. These technological advancements are not only improving the scalability and performance of device management solutions but also unlocking new use cases and business models across industries.
The competitive landscape in the component segment is characterized by intense rivalry among established technology vendors, emerging startups, and specialized service providers. Leading platform vendors are investing heavily in R&D to enhance their offerings with advanced features such as edge management, multi-cloud support, and integration with enterprise applications. Service providers are differentiating themselves through domain expertise, industry-specific solutions, and flexible delivery models. Strategic partnerships, mergers, and acquisitions are also shaping the market, enabling companies to expand their capabilities and address the evolving needs of IoT adopters.
Attributes | Details |
Report Title | IoT Device Management Market Research Report 2033 |
By Component | Platform, Services |
By Deployment Mode | On-Premises, Cloud |
By Organization Size | Large Enterprises, Small and Medium Enterprises |
By Application | Smart Manufacturing, Smart Healthcare, Smart Retail, Smart Transportation & Logistics, Smart Energy & Utilities, Others |
By End-User | BFSI, Healthcare, Retail, Manufacturing, IT & Telecommunications, Others |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2024 |
Historic Data | 2018-2023 |
Forecast Period | 2025-2033 |
Number of Pages | 294 |
Number of Tables & Figures | 364 |
Customization Available | Yes, the report can be customized as per your need. |
The IoT Device Management market is segmented by deployment mode into On-Premises and Cloud, each offering distinct advantages and addressing different organizational needs. On-premises deployment is favored by enterprises with stringent security, compliance, and data sovereignty requirements. By maintaining control over the infrastructure, organizations can tailor device management solutions to their specific operational environments and regulatory obligations. This deployment mode is particularly prevalent in highly regulated industries such as healthcare, finance, and critical infrastructure, where data privacy and control are paramount. However, on-premises solutions often involve higher upfront costs, longer implementation times, and greater maintenance responsibilities, factors that organizations must carefully consider.
Cloud-based deployment is gaining significant traction in the IoT Device Management market, driven by its scalability, flexibility, and cost-effectiveness. Cloud platforms enable organizations to manage large and geographically dispersed device fleets without the need for extensive on-site infrastructure. This approach facilitates rapid deployment, centralized management, and seamless updates, making it ideal for organizations seeking to scale their IoT initiatives quickly and efficiently. Cloud solutions also support advanced analytics, integration with other cloud services, and remote access, enhancing the overall value proposition. The pay-as-you-go pricing model further reduces capital expenditures, making cloud deployment an attractive option for both large enterprises and small and medium-sized businesses.
Hybrid deployment models are emerging as a compelling alternative, combining the benefits of both on-premises and cloud solutions. Hybrid approaches allow organizations to maintain critical data and processes on-premises while leveraging the scalability and flexibility of the cloud for non-sensitive operations. This model is particularly relevant for organizations with diverse operational requirements, distributed locations, or phased migration strategies. Hybrid deployment enables seamless integration, workload balancing, and disaster recovery, providing a robust foundation for complex and evolving IoT environments. As organizations seek to optimize their device management strategies, the adoption of hybrid models is expected to increase, driving innovation in deployment architectures and management tools.
Security and compliance considerations play a pivotal role in deployment mode selection. Cloud providers are investing heavily in security certifications, data encryption, and compliance frameworks to address the concerns of enterprise customers. Multi-factor authentication, role-based access control, and continuous monitoring are becoming standard features in cloud-based device management platforms. On the other hand, organizations opting for on-premises deployment are focusing on physical security, network segmentation, and custom security policies to safeguard their IoT assets. The evolving threat landscape and regulatory requirements are prompting organizations to reassess their deployment strategies, balancing the trade-offs between control, cost, and agility.
The competitive dynamics in the deployment mode segment are shaped by the offerings and strategies of leading technology vendors, cloud service providers, and system integrators. Vendors are enhancing their platforms with flexible deployment options, seamless migration tools, and robust integration capabilities to cater to diverse customer needs. Strategic partnerships between platform providers and cloud hyperscalers are enabling the delivery of integrated, end-to-end solutions that address the full spectrum of device management requirements. As the market evolves, we anticipate a growing emphasis on interoperability, open standards, and ecosystem collaboration to support the diverse deployment preferences of IoT adopters.
The IoT Device Management market is segmented by organization size into Large Enterprises and Small and Medium Enterprises (SMEs), reflecting the diverse needs, challenges, and adoption patterns across the business landscape. Large enterprises are at the forefront of IoT adoption, leveraging device management solutions to support complex, large-scale deployments across multiple geographies and business units. These organizations prioritize scalability, integration with existing IT systems, and advanced security features to ensure the reliability and resilience of their IoT infrastructures. Large enterprises often have dedicated IT teams and resources to manage device lifecycles, implement custom solutions, and address regulatory requirements, enabling them to maximize the value of their IoT investments.
Small and Medium Enterprises (SMEs) represent a rapidly growing segment in the IoT Device Management market, driven by the democratization of IoT technologies and the availability of cost-effective, cloud-based solutions. SMEs are increasingly adopting IoT device management platforms to enhance operational efficiency, reduce costs, and gain competitive advantages in their respective markets. The scalability and flexibility of cloud-based solutions are particularly appealing to SMEs, enabling them to start small and scale their IoT initiatives as their business grows. Managed services and simplified deployment models are also lowering the barriers to entry, allowing SMEs to leverage advanced device management capabilities without the need for extensive in-house expertise.
The challenges faced by large enterprises and SMEs in IoT device management differ significantly. Large enterprises must address the complexities of managing heterogeneous device fleets, integrating with legacy systems, and ensuring compliance with industry-specific regulations. They also require advanced analytics, automation, and orchestration capabilities to manage devices at scale and derive actionable insights from IoT data. In contrast, SMEs are primarily concerned with ease of use, affordability, and rapid deployment. They seek intuitive platforms, pre-configured solutions, and responsive support services to minimize operational overhead and accelerate time-to-value.
Vendors in the IoT Device Management market are tailoring their offerings to address the unique needs of both large enterprises and SMEs. For large enterprises, vendors are focusing on scalability, customization, and integration with enterprise applications such as ERP, CRM, and analytics platforms. For SMEs, the emphasis is on simplicity, affordability, and bundled services that provide end-to-end device management capabilities out of the box. This segmentation is driving innovation in product design, pricing models, and go-to-market strategies, enabling vendors to capture a broader share of the market and address the diverse requirements of IoT adopters.
The growing adoption of IoT device management solutions by organizations of all sizes is contributing to the overall expansion and maturation of the market. As digital transformation initiatives accelerate across industries, both large enterprises and SMEs are recognizing the strategic importance of effective device management in achieving their business objectives. The convergence of cloud computing, AI, and automation is further leveling the playing field, enabling organizations of all sizes to harness the power of IoT and drive innovation in their operations.
The IoT Device Management market is segmented by application into Smart Manufacturing, Smart Healthcare, Smart Retail, Smart Transportation & Logistics, Smart Energy & Utilities, and Others, each representing a unique set of opportunities and challenges. Smart manufacturing is one of the most prominent application areas, leveraging IoT devices to optimize production processes, monitor equipment health, and enable predictive maintenance. Device management platforms play a critical role in ensuring the reliability, security, and scalability of manufacturing IoT deployments, supporting real-time monitoring, remote diagnostics, and automated updates. The integration of IoT with advanced analytics and AI is further enhancing the value proposition of device management solutions in the manufacturing sector.
Smart healthcare is another rapidly growing application segment, driven by the increasing adoption of connected medical devices, remote patient monitoring, and telehealth solutions. IoT device management platforms are essential for ensuring the security, compliance, and interoperability of healthcare IoT ecosystems. These platforms enable healthcare providers to remotely monitor device performance, update firmware, and ensure data privacy in accordance with regulatory requirements such as HIPAA and GDPR. The COVID-19 pandemic has accelerated the adoption of digital health solutions, highlighting the critical importance of robust device management in supporting patient care and operational continuity.
In the smart retail sector, IoT device management solutions are enabling retailers to enhance customer experiences, optimize inventory management, and streamline supply chain operations. Connected devices such as smart shelves, beacons, and point-of-sale systems require centralized management to ensure seamless operation, security, and integration with backend systems. Device management platforms provide retailers with the tools to monitor device health, deploy updates, and analyze usage patterns, enabling data-driven decision-making and personalized customer engagement. The growing emphasis on omnichannel retailing and digital transformation is driving the adoption of IoT device management solutions in this sector.
Smart transportation and logistics represent another significant application area, leveraging IoT devices for fleet management, asset tracking, and real-time monitoring of goods in transit. Device management platforms enable logistics providers to manage large fleets of connected vehicles and assets, ensuring operational efficiency, compliance, and security. Features such as remote diagnostics, geofencing, and automated alerts are becoming standard, enabling proactive maintenance and reducing downtime. The integration of IoT with advanced analytics and AI is further enhancing the capabilities of device management solutions, enabling predictive maintenance and route optimization.
Smart energy and utilities are increasingly adopting IoT device management solutions to monitor and control distributed energy resources, optimize grid operations, and ensure regulatory compliance. Device management platforms enable utilities to manage large networks of smart meters, sensors, and control systems, supporting real-time monitoring, remote configuration, and automated updates. The transition to renewable energy sources and the growing emphasis on energy efficiency are driving the adoption of IoT device management solutions in this sector. Other application areas, such as smart cities, agriculture, and environmental monitoring, are also witnessing increased adoption, reflecting the broad applicability and value of IoT device management across industries.
The IoT Device Management market is segmented by end-user into BFSI, Healthcare, Retail, Manufacturing, IT & Telecommunications, and Others, reflecting the diverse adoption patterns and requirements across industry verticals. The Banking, Financial Services, and Insurance (BFSI) sector is leveraging IoT device management solutions to enhance security, streamline operations, and improve customer experiences. Connected devices such as ATMs, kiosks, and security systems require centralized management to ensure uptime, compliance, and protection against cyber threats. Device management platforms enable BFSI organizations to monitor device health, deploy security patches, and manage configurations, supporting operational resilience and regulatory compliance.
The healthcare sector is a major end-user of IoT device management solutions, driven by the proliferation of connected medical devices, remote monitoring systems, and telehealth platforms. Healthcare providers rely on device management platforms to ensure the security, interoperability, and compliance of their IoT ecosystems. Features such as remote monitoring, automated updates, and secure data transmission are essential for maintaining patient safety and meeting regulatory requirements. The increasing adoption of digital health solutions and the growing focus on patient-centric care are driving demand for advanced device management capabilities in the healthcare sector.
Retailers are adopting IoT device management solutions to optimize store operations, enhance customer engagement, and improve supply chain efficiency. Connected devices such as smart shelves, beacons, and point-of-sale terminals require centralized management to ensure seamless operation and security. Device management platforms provide retailers with the tools to monitor device performance, deploy updates, and analyze usage data, enabling data-driven decision-making and personalized customer experiences. The shift towards omnichannel retailing and the integration of physical and digital channels are further driving the adoption of IoT device management solutions in the retail sector.
The manufacturing sector represents a significant end-user segment, leveraging IoT device management solutions to support smart factories, predictive maintenance, and real-time monitoring of production assets. Device management platforms enable manufacturers to manage large fleets of connected devices, ensuring operational efficiency, security, and compliance. Features such as remote diagnostics, automated updates, and integration with enterprise systems are becoming standard, enabling manufacturers to optimize production processes and reduce downtime. The adoption of Industry 4.0 principles and the integration of IoT with advanced analytics and AI are further enhancing the value proposition of device management solutions in the manufacturing sector.
The IT & Telecommunications sector is also a key end-user of IoT device management solutions, driven by the need to manage large networks of connected devices, ensure service continuity, and support emerging applications such as 5G and edge computing. Device management platforms enable IT and telecom providers to monitor device health, deploy updates, and ensure security across distributed networks. The growing complexity of IT environments and the increasing adoption of cloud and edge computing are driving demand for advanced device management solutions in this sector. Other end-users, such as government, education, and utilities, are also adopting IoT device management solutions to support digital transformation initiatives and improve service delivery.
The IoT Device Management market presents significant opportunities for growth and innovation, driven by the expanding adoption of IoT across industries and the increasing complexity of device ecosystems. One of the most promising opportunities lies in the integration of artificial intelligence and machine learning with device management platforms. AI-powered solutions can enable predictive maintenance, anomaly detection, and automated decision-making, reducing operational costs and improving device reliability. The rise of edge computing and 5G connectivity is also creating new opportunities for device management solutions that can orchestrate devices at the edge, support real-time data processing, and enable low-latency applications. As organizations seek to leverage IoT for digital transformation, the demand for scalable, secure, and intelligent device management platforms is expected to grow rapidly.
Another major opportunity in the IoT Device Management market is the emergence of industry-specific solutions tailored to the unique needs of verticals such as healthcare, manufacturing, and transportation. Vendors are increasingly developing customized platforms and services that address the regulatory, operational, and security requirements of specific industries. This verticalization of device management solutions enables organizations to accelerate time-to-market, ensure compliance, and derive greater value from their IoT investments. Additionally, the growing emphasis on sustainability and energy efficiency is driving demand for device management solutions that can optimize resource usage, reduce emissions, and support environmental monitoring. Partnerships between technology providers, system integrators, and industry consortia are further expanding the ecosystem and unlocking new growth opportunities.
Despite the significant opportunities, the IoT Device Management market faces several restraining factors that could impede growth. Security and privacy concerns remain a major challenge, as the proliferation of connected devices increases the attack surface and exposes organizations to cyber threats. Ensuring the security of devices, data, and communications requires continuous investment in advanced security features, compliance frameworks, and threat intelligence. The lack of industry-wide standards and interoperability is another restraining factor, as organizations struggle to integrate diverse devices and platforms from multiple vendors. Additionally, the shortage of skilled professionals with expertise in IoT, cybersecurity, and data analytics is limiting the adoption and effective management of IoT solutions. Addressing these challenges will be critical for sustaining growth and realizing the full potential of the IoT Device Management market.
North America remains the largest market for IoT Device Management, accounting for approximately 38% of the global market size in 2024, or around USD 1.44 billion. The region's dominance is attributed to its advanced technology infrastructure, high IoT adoption rates, and strong presence of leading technology vendors. The United States is the primary contributor, driven by significant investments in smart manufacturing, healthcare, and transportation. Canada is also witnessing steady growth, supported by government initiatives and increasing adoption of IoT in sectors such as energy and utilities. The region's focus on security, innovation, and regulatory compliance is further driving demand for advanced device management solutions.
The Asia Pacific region is the fastest-growing market for IoT Device Management, with a projected CAGR of 28.5% through 2033. The market size in Asia Pacific is estimated at USD 900 million in 2024, driven by rapid industrialization, urbanization, and significant investments in digital infrastructure. China, Japan, South Korea, and India are the key contributors, leveraging IoT to drive smart city initiatives, enhance manufacturing productivity, and improve healthcare delivery. The region's large population, expanding middle class, and increasing smartphone penetration are creating a fertile environment for IoT adoption. Government policies, public-private partnerships, and investments in 5G and edge computing are further accelerating market growth in Asia Pacific.
Europe represents a substantial market for IoT Device Management, with a market size of USD 760 million in 2024. The region is characterized by its strong regulatory frameworks, emphasis on data privacy, and focus on sustainability. Countries such as Germany, the United Kingdom, and France are leading adopters, leveraging IoT to support Industry 4.0, smart energy, and digital health initiatives. The European Union's regulatory landscape, including GDPR and cybersecurity directives, is shaping the adoption and implementation of device management solutions. The Middle East & Africa and Latin America are also witnessing steady growth, with market sizes of USD 380 million and USD 320 million respectively in 2024. These regions are leveraging IoT to address challenges in energy, transportation, and urban development, supported by increasing investments in digital transformation and smart infrastructure.
The IoT Device Management market is characterized by intense competition, rapid innovation, and a dynamic ecosystem of technology vendors, service providers, and system integrators. The competitive landscape is dominated by global technology giants, specialized IoT platform providers, and emerging startups, each vying to capture a share of the rapidly expanding market. Leading vendors are investing heavily in research and development to enhance their device management platforms with advanced features such as AI-driven analytics, edge management, and multi-cloud support. Strategic partnerships, mergers, and acquisitions are common, enabling companies to expand their capabilities, enter new markets, and address the evolving needs of IoT adopters.
Platform vendors are differentiating themselves through scalability, interoperability, and integration with a broad range of devices and enterprise applications. The ability to support heterogeneous device fleets, multiple communication protocols, and diverse deployment models is becoming a key competitive advantage. Service providers are focusing on value-added offerings such as consulting, integration, managed services, and industry-specific solutions to address the unique requirements of different verticals. The convergence of device management with security, analytics, and automation is further intensifying competition, as vendors seek to deliver comprehensive, end-to-end solutions that address the full spectrum of IoT challenges.
The competitive dynamics are also shaped by the growing influence of cloud hyperscalers, such as Amazon Web Services, Microsoft Azure, and Google Cloud, which are leveraging their cloud infrastructure, global reach, and ecosystem partnerships to deliver integrated device management solutions. These players are investing in open standards, developer tools, and marketplace offerings to accelerate IoT adoption and foster innovation. At the same time, niche players and startups are driving innovation in areas such as edge computing, AI-driven management, and vertical-specific solutions, challenging established vendors and expanding the competitive landscape.
Key strategies among market leaders include expanding product portfolios, enhancing platform capabilities, and investing in customer success initiatives. Vendors are also focusing on building robust partner ecosystems, enabling seamless integration with third-party devices, applications, and services. As the market matures, we anticipate a growing emphasis on interoperability, open APIs, and ecosystem collaboration to address the diverse and evolving needs of IoT adopters. The ability to deliver scalable, secure, and intelligent device management solutions will be critical for sustaining competitive advantage and driving long-term growth in the IoT Device Management market.
Major companies operating in the IoT Device Management market include Microsoft Corporation, IBM Corporation, Amazon Web Services (AWS), PTC Inc., Cisco Systems, Inc., Oracle Corporation, Siemens AG, Telit Communications PLC, Bosch.IO GmbH, and Huawei Technologies Co., Ltd. Microsoft Azure IoT and AWS IoT Device Management are recognized for their robust cloud-based platforms, offering scalability, security, and integration with a wide range of devices and applications. IBM Watson IoT provides advanced analytics and AI-driven management capabilities, catering to the needs of large enterprises and industrial customers. Cisco and Oracle are leveraging their expertise in networking and enterprise software to deliver comprehensive device management solutions for diverse verticals.
PTC’s ThingWorx platform is renowned for its flexibility, scalability, and support for industrial IoT applications, making it a preferred choice among manufacturers and industrial enterprises. Siemens and Bosch.IO are leveraging their deep domain expertise in manufacturing and industrial automation to deliver specialized device management solutions for smart factories and industrial IoT deployments. Telit and Huawei are focusing on connectivity, edge management, and integration with telecom networks, catering to the needs of telecommunications providers and enterprises with distributed operations. These companies are continuously enhancing their offerings through innovation, strategic partnerships, and customer-centric initiatives.
The competitive landscape is further enriched by the presence of regional players, niche vendors, and emerging startups, each contributing to the diversity and dynamism of the market. These companies are driving innovation in areas such as edge computing, AI-powered management, and industry-specific solutions, addressing the unique challenges and requirements of different customer segments. As the IoT Device Management market continues to evolve, the ability to deliver differentiated, scalable, and secure solutions will be the key to success for vendors across the competitive spectrum.
The IoT Device Management market has been segmented on the basis of
Key players competing in the global IoT device management market are Microsoft Corp.; Aeris Communications, Inc.; Oracle Corp.; Bosch Software Innovations; PTC, Inc.; IBM Corp.; and Advantech Co. Ltd. Companies are focusing on cloud-based enterprise application solutions deployment for remote working to maintain their competitive position in the market. Furthermore, companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.
For instance, in March 2020 Microsofts Azure IoT announced the partnership with Cisco IoT. This partnership is aimed to simplify customer deployments. Customers with this service integration can simply store and send IoT data to the cloud and safely connect their assets.