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The Internet of Things (IoT) device management market is expected to grow at a Compound Annual Growth Rate (CAGR) of 29.8% from 2017 to 2022, owing to the critical need for converged device management platforms
The IoT device management market size is expected to grow from USD 693.4 million in 2017 to USD 2,559.6 million by 2022, at a CAGR of 29.8% from 2017 to 2022. The growing penetration of heterogeneous smart devices and IoT sensors, mandates the critical need for reliable IoT device management platforms or solutions for device remote activation and provisioning, configuration and control, and its management. Converged device management platform offers a single platform to manage devices across multitude of domains and protocols for communication. IoT devices include heterogeneous stand-alone internet connected devices that need to be monitored and controlled from a remote location. As a result, this drives the need for reliable IoT device management platforms and solutions for properly monitoring and managing these smart devices.
Integration services among the professional services segment is expected to gain maximum traction during the forecast period
Installation and integration services are considered very important, as a typical IoT ecosystem consists of thousands of IoT devices and are connected through complex wireless network, such as ZigBee, z-Wave, LTE-advanced, and Wi-Fi direct. Integration service providers help enterprises and business customers to develop a connected environment by integrating IoT devices and solutions with the business processes.
Public cloud deployment model is estimated to have the largest market size in IoT device management market during the forecast period
The public cloud deployment model is most widely utilized by enterprises, owing to a large number of advantages, such as cost efficiency, scalability, and security. The public cloud provides an extensibility model that enables developers to build robust device management solutions. It also enables secure communication, extensive monitoring and access control using per-device security keys, and also provides device-to-cloud and cloud-to-device communication options.
North America is estimated to have the largest market size and Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period
North America is expected to hold the largest market share during the forecast period. North America presently contributes the maximum to the global IoT device management market, mainly due to the vast utilization of IoT device management services in various fields in this region. The region has witnessed the heavy adoption of latest networking technologies, such as ANT+, ZigBee, z-Wave, LTE-advanced, and Wi-Fi. Furthermore, the rise in use of IoT devices in various application areas is one of the important factors for the growth of IoT device management solutions and services in the North American region.
The APAC region is expected to witness a significant growth and estimated to be the fastest-growing region in the IoT device management market. This region has a competitive advantage over other regions with many players providing local cost-effective solutions, the easy availability of trained labors, and flexible regulations and policies. In addition, the countries in APAC are taking aggressive initiatives to upsurge the IoT infrastructure, enabling commercial users to adopt the cutting-edge technology. Government initiatives in the APAC region has started to boost the mobile internet, cloud computing, big data, and the IoT adoption, to encourage the healthy development of eCommerce, industrial networks, and internet banking, and to help internet companies increase their global presence.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profile of primary participants is as follows:
- By Company: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 – 30%
- By Designation: C level – 72%, Director level – 14%, and Others – 14%
- By Region: North America – 57%, Europe – 14%, and APAC – 29%
The IoT device management ecosystem comprises major vendors, such as Microsoft Corporation (US), PTC Incorporation (US), Telit Communications PLC (UK), IBM Corporation (US), Oracle Corporation (US), Smith Micro Software, Inc. (US), Advantech Co. Ltd. (China), Aeris (U.S.), and Zentri (US).
The report includes in-depth competitive analysis of these key players in the IoT device management market, with their company profiles, recent developments, and key market strategies. The research report segments the IoT device management market by solution, service, organization size, and deployment model, along with application, and region.
Reasons To Buy the Report
The IoT device management market has been segmented on the basis of solutions, services, organization sizes, deployment models, applications, and regions.
The report will help the market leaders/new entrants in this market in the following ways:
- The overall IoT device management market size has been estimated based on the revenues earned by vendors, offering solutions and services in multiple application areas, inclusive of professional and managed IoT device management services. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split into regions.
- The report helps the stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.