Global IoT Device Management Market Size Study & Forecast, by Category (Solution, Services), by Solution (Real-time Streaming Analytics, Security Solutions, Data Management, Remote Monitoring, Network Bandwidth Management), by Service (Professional Servic

Global IoT Device Management Market Size Study & Forecast, by Category (Solution, Services), by Solution (Real-time Streaming Analytics, Security Solutions, Data Management, Remote Monitoring, Network Bandwidth Management), by Service (Professional Services, Managed Services), by Organization Size (Large Enterprises, Small & Medium Enterprises (SMEs)), by Vertical (Retail, Healthcare, Transportation, Utilities, Manufacturing, Others), and Regional Analysis, 2023-2030

Global IoT Device Management Market is valued at approximately USD 1.88 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 34.9% over the forecast period 2023-2030. IoT (Internet of Things) Device Management refers to the collection of procedures, instruments, and technological advancements used to oversee and regulate the operation of IoT devices installed in a variety of settings. It entails tasks such as setting up, maintaining, upgrading, securing, and provisioning IoT devices throughout their operational lifecycle. IoT device management is essential for large-scale IoT installations to operate effectively and securely. It aids businesses in streamlining processes, preserving data integrity, and managing and optimizing their IoT devices. The rapid proliferation of IoT devices across various industries and sectors, rising emphasis on remote device management, and increasing regulatory compliance regarding data privacy, security, and device management, coupled with the evolving IoT standards and protocols are playing a vital role in bolstering market growth across the globe.

In addition, the surging adoption of connected devices is directly associated with the demand for IoT device management solutions. Effective IoT Device Management enhances operational efficiency, reduces downtime, ensures data integrity, improves security, and simplifies device maintenance for large-scale IoT deployments. According to the Statista, there were nearly 8.6 billion Internet of Things (IoT) connected devices in 2019,, which is anticipated to reach around 19.1 billion devices by 2025. Thereby, these aforementioned factors are spurring the market expansion. Moreover, the rising technological developments, as well as the Increasing penetration of communication and networking technologies present various lucrative opportunities over the forecast years. However, the data security and privacy concerns and complexity of IoT deployments are hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global IoT Device Management Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the development of information and communications technology (ICT) infrastructure and surging adoption of connected devices. Also, the growth of the region is aided by its robust economy and the presence of several well-established businesses. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The proliferation of connected gadgets, the high population, and the ongoing development of high-speed data networks are significantly propelling the market demand across the region. Additionally, it is projected that throughout the projection period, the market has multiple development prospects due to governments' increasing focus on supporting small- and medium-sized businesses that heavily use intelligent devices.

Major market players included in this report are:
Bosch Software Innovation GmbH
Smith Micro Software, Inc.
Advantech Co. Ltd.
International Business Machines Corp.
Aeris Communication, Inc.
Microsoft Corp.
Oracle Corp.
PTC Inc.
Proximetry
Telit Communications PLC

Recent Developments in the Market:
In December 2022, Aeris Communications- an Internet of Things (IoT) solutions provider based in California, U.S. announced that the company has signed an agreement with Ericsson to acquire the Connected Vehicle Cloud businesses and IoT Accelerator of Ericsson. This acquisition helps the company to expand its footprints in the regional market, as well as strengthen its product portfolio.

Global IoT Device Management Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Category, Solution, Service, Organization Size, Vertical, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Category:
Solution
Services

By Solution:
Real-time Streaming Analytics
Security Solutions
Data Management
Remote Monitoring
Network Bandwidth Management

By Service:
Professional Services
Managed Services

By Organization Size:
Large Enterprises
Small & Medium Enterprises (SMEs)

By Vertical:
Retail
Healthcare
Transportation
Utilities
Manufacturing
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Bosch Software Innovation GmbH
Smith Micro Software, Inc.
Advantech Co. Ltd.
International Business Machines Corp.
Aeris Communication, Inc.
Microsoft Corp.
Oracle Corp.
PTC Inc.
Proximetry
Telit Communications PLC

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