IoT Device Management Market - Forecast(2024 - 2030)
IoT Device Management Market Report Overview
IoT Device Management Market size is analysed
to grow at a CAGR of 29.2% during the forecast 2022-2027 to reach $11.22
billion by 2027. IoT Device Management automates the secure registration, monitoring, organisation,
and remote management of IoT devices at scale. IoT Device Management registers
connected devices individually or in bulk, and allows to easily manage
permissions to keep devices secure. IoT Device Management is OS
agnostic, allowing devices ranging from limited microcontrollers to connected
cars to be managed with the same service, allowing fleets to scale and lowering
the cost and effort of managing large and diverse IoT device deployments. The
introduction of applications in the industrial sector by digitizing the supply
chain and manufacturing processes is a significant development in the market
for IoT device management. The rise of industrial IoT is being driven by a
reduction in the operating costs of industrial operations. It also aids in
process automation, increasing efficiency and removing manual obstacles. PLC,
RTU etc are being used in Industrial IoT. A PLC, or Programmable Logic
Controller, is a ruggedized computer that is used for industrial automation.
These controllers have the ability to automate a specific process, machine
function, or even an entire production line. A Remote Terminal Unit (RTU) is a
device, such as a Programmable Logic Controller (PLC), that connects one or
more devices (monitors or actuators) to a control unit. It is usually placed
near the process being managed or monitored. Local area network is mostly used
in IoT device Management. Hyper text Transfer Protocol (HTTP), it is a protocol used
for transmitting data over the internet. It is capable of handling a
significant amount of information compared to MQTT and it is not suited for
areas with low bandwidth. It has become common for clients for sending and
receiving data. Industry 4.0 is transforming industries by transitioning
them from legacy systems to smart components and smart machines, allowing for
digital factories and the development of an ecosystem of connected enterprises
and plants. OEMs are implementing IoT devices across their operations as a
result of Industry 4.0.
Report Coverage
The report: “IoT Device Management Industry Outlook –
Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the
following segments of the IoT Device Management industry.
By Component: Solution (Real-Time Streaming Analytics, Security
Solution, Data Management, Remote Monitoring, Network Bandwidth Management),
Service (Professional Services, Managed Services).
By Organization Size: Small and Medium-Sized
Enterprises, Large Enterprises.
By Deployment:
Public Cloud, Private
Cloud, Hybrid Cloud.
By End-User: Retail, Healthcare, Transportation & Logistics,
Utilities, Manufacturing, Others.
By Geography: North America, South America,
Europe, APAC, and RoW.
Key Takeaways
- In the year 2021, the solution segment is expected to have the largest market share 51.6%. Due to the obvious advancements in advanced data analytics and data processing, this market is expanding. The growing need to secure data, connected devices, and connected assets will propel the overall market for solutions to new heights.
- North America is expected to have the largest market share of 35% in 2021. The market is growing in this region as a result of widespread awareness of these solutions and rapid digitalization across industry verticals.
- Growing demand for technologically advanced IoT, as well as increased growth in the educational sector, are driving growth in the internet of things market and, eventually, the IoT device management market.
- The evolution
of IoT device management has seen tremendous growth in recent years, owing
to the increasing adoption of smartphones and mobile devices, as well as
the increasing penetration of the internet. The growth of IoT and
connected devices is being driven primarily by emerging applications and
business models, which are being aided by falling device costs and
standardisation.
IoT Device Management Market, By Region, 2021
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IoT Device Management Market Segment Analysis – By Components
By Components, IoT
Device Management Market has been segmented into Solution (Real-Time Streaming Analytics, Security Solution, Data
Management, Remote Monitoring, Network Bandwidth Management), Service
(Professional Services, Managed Services). In the year 2021, the solution segment in the IoT Device Market segmented by
Component is expected to have the largest market share of 51.6%. This market is expanding as a
result of the advancement of advanced data analytics and data processing. The
growing need to secure data, connected devices, and connected assets will drive
the overall market for solutions to grow. These solutions are designed to meet
a wide range of customer requirements for security, authentication, and
maintenance. The service segment is expected to grow at a faster pace during
the forecast period because services enable organisations to easily deploy
software on the cloud. The services segment is further subdivided into
professional services and managed services.
IoT Device Management Market Segment Analysis – By End-User
By End-User, IoT
Device Management Market has been segmented into Retail, Healthcare, Transportation & Logistics, Utilities,
Manufacturing, Others. The Retail segment is expected to grow significantly during the
forecast period. Smart devices and IoT in retail help retailers improve the
customer experience and drive more conversions, changing the day-to-day
operations of the store. Some of the benefits of using IoT in the retail
industry include energy management, in-store navigation, theft prevention, and
customer engagement. IoT in retail and connected technologies are sweeping the
industry. According to eInfochips (an Arrow company), 96% of retailers are prepared
to make the necessary changes to implement the Internet of Things in their
stores. Consumer and retail sectors are being targeted more frequently than
other industries, according to Wipro's State of Cybersecurity Report 2019.
According to the report, at least 73% of organisations are expected to lose
revenue in the event of an attack due to the inability to provide services at
critical times. Because of the evolving nature of attacks, increased attacks
and their malevolent nature have pushed market end-users to adopt these
solutions to mitigate these risks, creating an increasing demand.
IoT Device Management Market Segment Analysis – By Geography
By geography, IoT Device Management Market has been segmented under North America, Europe, APAC, South America and RoW. North America is expected to have the largest market share of 35% in 2021. The market is growing in this region as a result of widespread awareness of these solutions and rapid digitalization across industry verticals. The high adoption of advanced technologies, increasing cyberattacks, and a growing number of connected devices in the region are significant factors driving the growth of the IoT Device Management market in the region. North America is a dominant region for IoT deployment. Other factors include the region's growing digitalization and IoT security spending. With more consumers in the United States embracing the smart home environment, the possibility of security and privacy threats from malicious hackers is also increasing. According to a 2019 study by the American Consumer Institute, more than 8 and 10 home and office routers in the United States were vulnerable to hacking. All of these factors are significantly contributing to the growth of the region's IoT managed devices market.
IoT Device Management Market Drivers
Growing demand for technologically advanced IoT, as well as increased growth in the educational sector, are driving growth in the internet of things market and, eventually, the IoT device management market:
The deployment of 5G networks and their support for extensive IoT, in conjunction with Multi-access Edge Computing (MEC), will increase the demand for IoT device management at the edge of cellular networks in particular. The Internet of Things device management market must grow to meet the ever-increasing scale and scope of consumer, industrial, enterprise, and government solutions and systems. Growing demand for technologically advanced IoT, as well as increased growth in the educational sector, IoT in the classroom means a more connected and collaborative future for education. IoT devices provide students with improved access to everything from learning materials to communication channels, and they enable teachers to track student learning progress in real time. This is driving growth in the internet of things market. The adoption of networking and communication technologies, as well as the need for connected assets, real-time analytics, and machine security, have led to the adoption of IoT device management.
The introduction of applications in the industrial sector by digitising the supply chain and manufacturing processes is a significant development in the market for IoT device management:
The introduction
of applications in the industrial sector by digitising the supply chain and manufacturing
processes has been a significant development in the market for IoT device
management. The rise of industrial IoT is being fueled by a reduction in the
operating costs of industrial operations. It also aids in process automation,
increasing efficiency and removing manual challenges. The definition of
Industrial IoT enables OEMs to integrate the benefits of IoT in industrial
operations, increasing the need to manage complex IoT networks in the industry.
The introduction of device management solutions at this stage is critical for
the industry, increasing demand for the IoT device management market. The
growing adoption of Industrial IoT is expected to fuel the growth of the IoT
device management market. On March 5, 2020, Oracle acquired Zenedge, adding
leading network security and cloud-based application capabilities to protect
enterprises from sophisticated digital threats. The Zenedge Cybersecurity Suite
is now Oracle Dyn Web Application Security, and the Dyn GBU has acquired the
intelligent edge services portfolio.
IoT Device Management Market Challenges
Ongoing exposure to security issues and a lack of standardisation are some of the challenges for the market's growth:
For some time, IoT device security
has been a source of concern, with the unavoidable result of allowing both
small- and large-scale attacks. The majority of these attacks are the result of
simple security flaws, such as the use of default passwords on telnet services. With the increasing adoption of IoT, a
significant threat that IoT poses is data security and privacy, which increases
the vulnerability to cyberattacks. Despite the rapid adoption of IoT device
management in a variety of application areas, continuous exposure to security
issues and a lack of standardisation is hindering the market growth. Concerns
about the security of proprietary data and applications pose a significant
barrier to the growth of the IoT Device Management market. Slow digitalization,
a lack of common standards, and privacy concerns are all having a negative
impact on the market.
IoT Device Management Market Landscape
Technology launches, acquisitions,
Partnerships and R&D activities are key strategies adopted by players in the IoT Device Management market. In 2021, the market
of IoT Device Management Market share has been fragmented by several companies. IoT Device Management top 10 companies include
- Advantech
- Aeris
- Amplia Soluciones
- Cumulocity
- Enhanced
Telecommunications
- International
Business Machines
- Microsoft
- Oracle
- Ptc Incorporation
- Smith Micro Software
Acquisitions/Technology Launches/Partnerships
- In March 2020, Microsoft Azure IoT introduced seamless integration with Cisco IoT. This collaboration between Cisco and Azure IoT is expected to make customer deployments easier. Customers who use this service integration can connect their assets securely and easily ingest and send IoT data to the cloud. Cisco IoT Gateways with this feature will now be pre-integrated to take advantage of Azure's cutting-edge cloud technology.
- In February 2020, Smith Micro Software, Inc. announced the acquisition of Circle Media Labs Inc.'s operator business. This newly acquired technology is expected to improve Smith Micro's SafePath Connected Life Platform by providing a comprehensive connected life experience for Family Location and Parental Controls, IoT, and Home in a single experience.
- In October 2019, Advantech has officially inaugurated its new Japan Service Center in Fukuoka Prefecture. The Advantech Japan Service Center has embraced OMRON Nohgata's quality of excellence, has a fully expandable warehouse, and has seen production capacity nearly tripled, assisting Advantech in driving regional growth and meeting customers' growing Industry 4.0 needs through "Configured Order to Service (CTOS)."
Relevant Report Titles:
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LIST OF TABLES
1.Global Market Analysis By Solution Market 2023-2030 ($M)1.1 Real-Time Streaming Analytics Market 2023-2030 ($M) - Global Industry Research
1.2 Security Solution Market 2023-2030 ($M) - Global Industry Research
1.3 Data Management Market 2023-2030 ($M) - Global Industry Research
1.4 Remote Monitoring Market 2023-2030 ($M) - Global Industry Research
1.5 Network Bandwidth Management Market 2023-2030 ($M) - Global Industry Research
2.Global IoT Device Management Market Analysis By Service Market 2023-2030 ($M)
2.1 Professional Services Market 2023-2030 ($M) - Global Industry Research
2.1.1 Integration Market 2023-2030 ($M)
2.1.2 Support & Maintenance Market 2023-2030 ($M)
2.1.3 Consulting Market 2023-2030 ($M)
2.2 Managed Services Market 2023-2030 ($M) - Global Industry Research
3.Global Market Analysis By Organization Size Market 2023-2030 ($M)
3.1 Large Enterprises Market 2023-2030 ($M) - Global Industry Research
3.2 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Global Industry Research
4.Global IoT Device Management Market Analysis By Deployment Model Market 2023-2030 ($M)
4.1 Public Cloud Market 2023-2030 ($M) - Global Industry Research
4.2 Private Cloud Market 2023-2030 ($M) - Global Industry Research
4.3 Hybrid Cloud Market 2023-2030 ($M) - Global Industry Research
5.Global Market Analysis By Solution Market 2023-2030 (Volume/Units)
5.1 Real-Time Streaming Analytics Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Security Solution Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Data Management Market 2023-2030 (Volume/Units) - Global Industry Research
5.4 Remote Monitoring Market 2023-2030 (Volume/Units) - Global Industry Research
5.5 Network Bandwidth Management Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global IoT Device Management Market Analysis By Service Market 2023-2030 (Volume/Units)
6.1 Professional Services Market 2023-2030 (Volume/Units) - Global Industry Research
6.1.1 Integration Market 2023-2030 (Volume/Units)
6.1.2 Support & Maintenance Market 2023-2030 (Volume/Units)
6.1.3 Consulting Market 2023-2030 (Volume/Units)
6.2 Managed Services Market 2023-2030 (Volume/Units) - Global Industry Research
7.Global Market Analysis By Organization Size Market 2023-2030 (Volume/Units)
7.1 Large Enterprises Market 2023-2030 (Volume/Units) - Global Industry Research
7.2 Small & Medium-Sized Enterprises Market 2023-2030 (Volume/Units) - Global Industry Research
8.Global IoT Device Management Market Analysis By Deployment Model Market 2023-2030 (Volume/Units)
8.1 Public Cloud Market 2023-2030 (Volume/Units) - Global Industry Research
8.2 Private Cloud Market 2023-2030 (Volume/Units) - Global Industry Research
8.3 Hybrid Cloud Market 2023-2030 (Volume/Units) - Global Industry Research
9.North America Market Analysis By Solution Market 2023-2030 ($M)
9.1 Real-Time Streaming Analytics Market 2023-2030 ($M) - Regional Industry Research
9.2 Security Solution Market 2023-2030 ($M) - Regional Industry Research
9.3 Data Management Market 2023-2030 ($M) - Regional Industry Research
9.4 Remote Monitoring Market 2023-2030 ($M) - Regional Industry Research
9.5 Network Bandwidth Management Market 2023-2030 ($M) - Regional Industry Research
10.North America IoT Device Management Market Analysis By Service Market 2023-2030 ($M)
10.1 Professional Services Market 2023-2030 ($M) - Regional Industry Research
10.1.1 Integration Market 2023-2030 ($M)
10.1.2 Support & Maintenance Market 2023-2030 ($M)
10.1.3 Consulting Market 2023-2030 ($M)
10.2 Managed Services Market 2023-2030 ($M) - Regional Industry Research
11.North America Market Analysis By Organization Size Market 2023-2030 ($M)
11.1 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
11.2 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
12.North America IoT Device Management Market Analysis By Deployment Model Market 2023-2030 ($M)
12.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
12.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
12.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
13.South America Market Analysis By Solution Market 2023-2030 ($M)
13.1 Real-Time Streaming Analytics Market 2023-2030 ($M) - Regional Industry Research
13.2 Security Solution Market 2023-2030 ($M) - Regional Industry Research
13.3 Data Management Market 2023-2030 ($M) - Regional Industry Research
13.4 Remote Monitoring Market 2023-2030 ($M) - Regional Industry Research
13.5 Network Bandwidth Management Market 2023-2030 ($M) - Regional Industry Research
14.South America IoT Device Management Market Analysis By Service Market 2023-2030 ($M)
14.1 Professional Services Market 2023-2030 ($M) - Regional Industry Research
14.1.1 Integration Market 2023-2030 ($M)
14.1.2 Support & Maintenance Market 2023-2030 ($M)
14.1.3 Consulting Market 2023-2030 ($M)
14.2 Managed Services Market 2023-2030 ($M) - Regional Industry Research
15.South America Market Analysis By Organization Size Market 2023-2030 ($M)
15.1 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
15.2 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
16.South America IoT Device Management Market Analysis By Deployment Model Market 2023-2030 ($M)
16.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
16.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
16.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
17.Europe Market Analysis By Solution Market 2023-2030 ($M)
17.1 Real-Time Streaming Analytics Market 2023-2030 ($M) - Regional Industry Research
17.2 Security Solution Market 2023-2030 ($M) - Regional Industry Research
17.3 Data Management Market 2023-2030 ($M) - Regional Industry Research
17.4 Remote Monitoring Market 2023-2030 ($M) - Regional Industry Research
17.5 Network Bandwidth Management Market 2023-2030 ($M) - Regional Industry Research
18.Europe IoT Device Management Market Analysis By Service Market 2023-2030 ($M)
18.1 Professional Services Market 2023-2030 ($M) - Regional Industry Research
18.1.1 Integration Market 2023-2030 ($M)
18.1.2 Support & Maintenance Market 2023-2030 ($M)
18.1.3 Consulting Market 2023-2030 ($M)
18.2 Managed Services Market 2023-2030 ($M) - Regional Industry Research
19.Europe Market Analysis By Organization Size Market 2023-2030 ($M)
19.1 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
19.2 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
20.Europe IoT Device Management Market Analysis By Deployment Model Market 2023-2030 ($M)
20.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
20.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
20.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
21.APAC Market Analysis By Solution Market 2023-2030 ($M)
21.1 Real-Time Streaming Analytics Market 2023-2030 ($M) - Regional Industry Research
21.2 Security Solution Market 2023-2030 ($M) - Regional Industry Research
21.3 Data Management Market 2023-2030 ($M) - Regional Industry Research
21.4 Remote Monitoring Market 2023-2030 ($M) - Regional Industry Research
21.5 Network Bandwidth Management Market 2023-2030 ($M) - Regional Industry Research
22.APAC IoT Device Management Market Analysis By Service Market 2023-2030 ($M)
22.1 Professional Services Market 2023-2030 ($M) - Regional Industry Research
22.1.1 Integration Market 2023-2030 ($M)
22.1.2 Support & Maintenance Market 2023-2030 ($M)
22.1.3 Consulting Market 2023-2030 ($M)
22.2 Managed Services Market 2023-2030 ($M) - Regional Industry Research
23.APAC Market Analysis By Organization Size Market 2023-2030 ($M)
23.1 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
23.2 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
24.APAC IoT Device Management Market Analysis By Deployment Model Market 2023-2030 ($M)
24.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
24.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
24.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
25.MENA Market Analysis By Solution Market 2023-2030 ($M)
25.1 Real-Time Streaming Analytics Market 2023-2030 ($M) - Regional Industry Research
25.2 Security Solution Market 2023-2030 ($M) - Regional Industry Research
25.3 Data Management Market 2023-2030 ($M) - Regional Industry Research
25.4 Remote Monitoring Market 2023-2030 ($M) - Regional Industry Research
25.5 Network Bandwidth Management Market 2023-2030 ($M) - Regional Industry Research
26.MENA IoT Device Management Market Analysis By Service Market 2023-2030 ($M)
26.1 Professional Services Market 2023-2030 ($M) - Regional Industry Research
26.1.1 Integration Market 2023-2030 ($M)
26.1.2 Support & Maintenance Market 2023-2030 ($M)
26.1.3 Consulting Market 2023-2030 ($M)
26.2 Managed Services Market 2023-2030 ($M) - Regional Industry Research
27.MENA Market Analysis By Organization Size Market 2023-2030 ($M)
27.1 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
27.2 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
28.MENA IoT Device Management Market Analysis By Deployment Model Market 2023-2030 ($M)
28.1 Public Cloud Market 2023-2030 ($M) - Regional Industry Research
28.2 Private Cloud Market 2023-2030 ($M) - Regional Industry Research
28.3 Hybrid Cloud Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Iot Device Management Market Revenue, 2023-2030 ($M)2.Canada Iot Device Management Market Revenue, 2023-2030 ($M)
3.Mexico Iot Device Management Market Revenue, 2023-2030 ($M)
4.Brazil Iot Device Management Market Revenue, 2023-2030 ($M)
5.Argentina Iot Device Management Market Revenue, 2023-2030 ($M)
6.Peru Iot Device Management Market Revenue, 2023-2030 ($M)
7.Colombia Iot Device Management Market Revenue, 2023-2030 ($M)
8.Chile Iot Device Management Market Revenue, 2023-2030 ($M)
9.Rest of South America Iot Device Management Market Revenue, 2023-2030 ($M)
10.UK Iot Device Management Market Revenue, 2023-2030 ($M)
11.Germany Iot Device Management Market Revenue, 2023-2030 ($M)
12.France Iot Device Management Market Revenue, 2023-2030 ($M)
13.Italy Iot Device Management Market Revenue, 2023-2030 ($M)
14.Spain Iot Device Management Market Revenue, 2023-2030 ($M)
15.Rest of Europe Iot Device Management Market Revenue, 2023-2030 ($M)
16.China Iot Device Management Market Revenue, 2023-2030 ($M)
17.India Iot Device Management Market Revenue, 2023-2030 ($M)
18.Japan Iot Device Management Market Revenue, 2023-2030 ($M)
19.South Korea Iot Device Management Market Revenue, 2023-2030 ($M)
20.South Africa Iot Device Management Market Revenue, 2023-2030 ($M)
21.North America Iot Device Management By Application
22.South America Iot Device Management By Application
23.Europe Iot Device Management By Application
24.APAC Iot Device Management By Application
25.MENA Iot Device Management By Application
26.Aeris, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Amplia Soluciones S.L., Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Cumulocity GmbH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Enhanced Telecommunications Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.International Business Machines Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Microsoft Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Oracle Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.PTC Incorporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Telit Communications PLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Wind River, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Xively, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Zentri, Sales /Revenue, 2015-2018 ($Mn/$Bn)