The global Iot Device Management Market size is anticipated to reach USD 5.1 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 28.3% CAGR during the forecast period. Growing demand for IoT services need for digitalization, and increasing penetration of communication and networking technologies are expected to drive the market over the coming years.
In
the past few years, the industry has witnessed increasing investments in
R&D activities for the development of technologically advanced IoT systems.
This has increased the popularity of IoT devices management products. Major
application sectors in the market include device provisioning, monitoring,
administration, and diagnostics.
The
security solutions segment is projected to exhibit the highest growth rate over
the forecast years. The market is witnessing the increasing use of security
solutions for connected devices. Advantages bestowed by the technology include
higher efficiency in device monitoring, diagnostics, and analytics.
Key
market participants in the market include IBM Corporation; Aeris
Communications, Inc.; Microsoft Corporation; Bosch Software Innovations; Oracle
Corporation; PTC; and Advantech Co. Ltd. Vendors in the IoT market are likely
to witness robust demand for connected device management over the forecast
years, owing to increasing technological advancements.
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https://www.grandviewresearch.com/industry-analysis/iot-device-management-market
Further key findings from the study suggest:
- Security
solutions is expected to be the fastest-growing segment with a CAGR of
29.2% over the forecast period
- Managed
services are predicted to largely contribute to market growth, as they
facilitate a higher level of performance and efficiencies
- Asia Pacific
is expected to be the fastest-growing region, owing to high demand for
smart city infrastructure and healthcare in emerging economies such as
India and China
- Major
players in the IoT device management market include Microsoft Corporation;
IBM Corporation; Bosch Software Innovations; Oracle Corporation; PTC; and
Advantech Co. Ltd.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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