IoT Device Management Market

IoT Device Management Market by Services (Managed and Professional), Solutions (Security Solutions, Remote Monitoring, Real-time Streaming Analytics, Data Management, and Network Bandwidth Management), Organization Sizes (Large Enterprise and Small & Medium Enterprise), Components (Services and Solution), End-users (Healthcare, Utilities, Retail, Transportation & Logistics, Manufacturing, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, Forecasts, 2021 – 2028

  • Report ID: ICT-SE-3307
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 220
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The global IoT device management market size is projected to expand at a considerable CAGR, during the forecast period, 2021-2028. The growth of the market is attributed to the growing need to monitor the health of IoT devices.

IoT Device Management Market Key Takeaways

Internet of Things (IoT) device management is the process, involving the diagnosing, configuring, monitoring, maintaining, authenticating, and provisioning connected devices, operating as part of an IoT environment. The platform is uncertain to operating system and device type, as devices are managed through controlled microcontrollers, which are connected with each other. IoT device management helps to find any other IoT device across enterprise. It helps to easily find devices based on a combination of characteristics such as device state, device identification, and type. The management system offers various benefits, such as rapid developmeant, inventory management, finding fault in devices, device security, and access management.

The COVID-19 pandemic outbreak had positive impact on the market. During the pandemic, emergency lockdown imposed by government bodies across the globe, resulted in implementation of work from home policy by many organizations this resulted in high adoption of IoT to manage employs who are working remotely. Additionally, key market players are adopting the IoT technology based devices as a long-term tool, which will help to recover the businesses post pandemic.

Market Drivers, Restraints and Opportunities

  • Increasing adoption of IoT technology across industries for various operations is expected to be one of the major factors driving the market growth.
  • Growing emphasis on managing connected devices and increasing operationl efficiency is another factor which is expected to drive the market growth during the forecast period.
  • Lack of compatibility and connectivity in devices is a major challenge that can restrict the market growth in the coming years.
  • Rising threat of cyber security and privacy concern associated with connected devices can also be expected to hamper the market growth during the projected timeline.
  • Surging demand for real-time analysis and monitoring of IoT devices is expected to create lucrative opportunities during the forecast period.

Scope of the Report

The report on the global IoT device management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

IoT Device Management Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018-2019

Forecast Period

2021–2028

Segmentation

Services (Managed and Professional), Solutions (Security Solutions, Remote Monitoring, Real-time Streaming Analytics, Data Management, and Network Bandwidth Management), Organization Sizes (Large Enterprise and Small & Medium Enterprise), Components (Services and Solution), and End-users (Healthcare, Utilities, Retail, Transportation & Logistics, Manufacturing, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Microsoft Corp.; Aeris Communications, Inc.; Oracle Corp.; Bosch Software Innovations; PTC, Inc.; IBM Corp.; and Advantech Co. Ltd.

Market Segment Insights

Managed services to expand at a robust CAGR

Based on services, the market is bifurcated into managed services and professional services. The professional segment is expected to grow at a rapid pace during the forecast period due to escalating demand for operating and managing complex IoT environments. Furthermore, need for reducing operational and capital expenditure and the demand for customized IoT services is major driver of the segment. On the other hand, the managed segment is anticipated to expand at a substantial CAGR in the coming years attributed to growing adoption of these services to reduce operational cost and to focus on core work of organization.

IoT Device Management Market By Services

Increasing need drives the security solution segment

On the basis of solutions, the global IoT device management market is fragmented into security solutions, remote monitoring, real-time streaming analytics, data management, and network bandwidth management. The security solutions segment is expected to grow at a rapid pace during the forecast period owing to the increasing need for securing information, connected devices, and connected assets. Moreover, the segment growth is further accelerated as these solutions are designed to fulfill numerous client necessities in terms of, authentication, security, and maintenance. However, the network bandwidth management segment is anticipated to expand at a substantial CAGR in the coming years due to the solution helps in controlling and measuring communication traffic on a network for efficient working of connected devices.

Small & medium enterprise to exhibit major market share

In terms of organisation sizes, the market is divided into large enterprise and small & medium enterprise. The small & medium enterprise segment is estimated to account for a major market share during the forecast period owing to boost in adoption of those solutions by enterprises for various operations. On the other hand, the large enterprise segment is expected to expand at a robust CAGR in the coming years attributed to large enterprises are adopting connected device management solutions for operational activities associated with assets management, transportation, manufacturing, and supplying.

Services segment to expand at high growth rate

On the basis of components, the global IoT device management market is bifurcated into services and solutions. The services segment is projected to expand at high growth rate in the projected timeline due to the increasing adoption of connected devices. Furthermore, the services helps enterprises to focus on their core functions, which is driving the segment growth further.

Growing adoption drives the retail segment

Based on end-users, the market is segmented into healthcare, utilities, retail, transportation & logistics, manufacturing, and others. The retail segment is anticipated to register at robust growth rate during the forecast period owing to the growing adoption of IoT devices for monitoring the electricity, temperature, gas leakeges, and electricity breakdowns. Additionally, it helps retailers in collecting consumer feedback and enhance custoumer experience, which is driving the segment growth further. On the other hand, the manefacturing segment is anticipated to expand at a substantial CAGR in the coming years attributed to increasing installation of industrial robots.

IoT Device Management Market By End Users

North America to constitute a key market share

In terms of regions, the global IoT device management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The North America is anticipated to constitute a key share of the market during the forecast period due to the increasing penetration of cloud technologies, infrastructural developments, and adoption of the newest networking technologies in the region. The Asia Pacific market is anticipated to exhibit robust CAGR during the projected timeline owing to infrastructural developments in the region coupled with supportive economic conditions.

Segments

Segments Covered in the Report
The global IoT device management market has been segmented on the basis of

Services
  • Managed
  • Professional
Solutions
  • Security Solutions
  • Remote Monitoring
  • Real-time Streaming Analytics
  • Data Management
  • Network Bandwidth Management
Organization Sizes
  • Large Enterprise
  • Small & Medium Enterprise
Components
  • Services
  • Solution
End-users
  • Healthcare
  • Utilities
  • Retail
  • Transportation & Logistics
  • Manufacturing
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Microsoft Corp.
  • Aeris Communications, Inc.
  • Oracle Corp.
  • Bosch Software Innovations
  • PTC, Inc.
  • IBM Corp.
  • Advantech Co. Ltd.

Competitive Landscape

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.

IoT Device Management Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. IoT Device Management Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. IoT Device Management Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. IoT Device Management Market - Supply Chain
  4.5. Global IoT Device Management Market Forecast
     4.5.1. IoT Device Management Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. IoT Device Management Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. IoT Device Management Market Absolute $ Opportunity
5. Global IoT Device Management Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. IoT Device Management Market Size and Volume Forecast by End Users
     5.3.1. Healthcare Utilities Retail Transportation & Logistics Manufacturing  
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global IoT Device Management Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. IoT Device Management Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global IoT Device Management Demand Share Forecast, 2019-2026
7. North America IoT Device Management Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America IoT Device Management Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America IoT Device Management Market Size and Volume Forecast by End Users
     7.4.1. Healthcare Utilities Retail Transportation & Logistics Manufacturing  
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America IoT Device Management Demand Share Forecast, 2019-2026
8. Latin America IoT Device Management Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America IoT Device Management Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America IoT Device Management Market Size and Volume Forecast by End Users
     8.4.1. Healthcare Utilities Retail Transportation & Logistics Manufacturing  
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America IoT Device Management Demand Share Forecast, 2019-2026
9. Europe IoT Device Management Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe IoT Device Management Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe IoT Device Management Market Size and Volume Forecast by End Users
     9.4.1. Healthcare Utilities Retail Transportation & Logistics Manufacturing  
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe IoT Device Management Demand Share Forecast, 2019-2026
10. Asia Pacific IoT Device Management Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific IoT Device Management Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific IoT Device Management Market Size and Volume Forecast by End Users
     10.4.1. Healthcare Utilities Retail Transportation & Logistics Manufacturing  
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific IoT Device Management Demand Share Forecast, 2019-2026
11. Middle East & Africa IoT Device Management Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa IoT Device Management Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa IoT Device Management Market Size and Volume Forecast by End Users
     11.4.1. Healthcare Utilities Retail Transportation & Logistics Manufacturing  
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa IoT Device Management Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global IoT Device Management Market: Market Share Analysis
  12.2. IoT Device Management Distributors and Customers
  12.3. IoT Device Management Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Microsoft Corp. Aeris Communications, Inc. Oracle Corp. Bosch Software Innovations PTC, Inc. IBM Corp.  
Segments Covered in the Report
The global IoT device management market has been segmented on the basis of

Services
  • Managed
  • Professional
Solutions
  • Security Solutions
  • Remote Monitoring
  • Real-time Streaming Analytics
  • Data Management
  • Network Bandwidth Management
Organization Sizes
  • Large Enterprise
  • Small & Medium Enterprise
Components
  • Services
  • Solution
End-users
  • Healthcare
  • Utilities
  • Retail
  • Transportation & Logistics
  • Manufacturing
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Microsoft Corp.
  • Aeris Communications, Inc.
  • Oracle Corp.
  • Bosch Software Innovations
  • PTC, Inc.
  • IBM Corp.
  • Advantech Co. Ltd.

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.

IoT Device Management Market By Key Players

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