The global IoT Device Management market was valued at around USD 1,295.10 million in 2021 and is expected to grow to approximately USD 5830.72 million by 2028, at a CAGR of nearly 28.50 percent during the projected period.
IoT Device Management makes it possible to remotely register, monitor, organize, and administer large-scale IoT devices. By assisting with permission management, IoT Device Control improves device security. IoT device management is independent of design and operating system, allowing fleets to scale and scale, save costs and administrative labor, and deploy a wide range of IoT device deployments with the same service. As the Internet of Things (IoT) has become more widely used for a variety of reasons, the market for IoT device management has grown substantially. In response to the increasing proliferation of technology and the necessity for efficient management of connected devices, solutions such as real-time analysis, security, and data management have been developed.
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Based on the component, the market is segmented into solutions and services. The security solution is the fastest growing in the IoT device management market as clients’ security concerns regarding IoT solutions develop. Due to device non-standardization and incompatibility, data security becomes increasingly problematic as more devices in an IoT system are connected to one another. Furthermore, hackers/attackers have an easier time carrying out illicit operations because there are so many distinct protocols, programs, and gadgets.
There are three deployment options available on the market: public cloud, private cloud, and hybrid cloud. The hybrid cloud deployment technique is expected to grow at the quickest CAGR during the projected period, lowering total costs while giving clients exceptionally flexible and extendable access. Vendors offer a hybrid cloud-based deployment technique to help clients save money on infrastructure. Security is still a key obstacle to widespread use; however, third-party security testing to the highest standards is progressively eliminating this risk.
IoT Device Management Market: Competitive Landscape
The following companies are some of the top players in the global IoT Device Management market: Advantech Co. Ltd., Aeris Communications LLC, Amazon Web Services Inc., Amplia Soluciones S.L, AVSystem, Bosch.io GmbH, Cumulocity GmbH, Huawei Technologies Co. Ltd., GE Digital, Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Particle Industries Inc., PTC Inc., Silicon Laboratories Inc., Smith Micro Software Inc., Site
The Global IoT Device Management market is segmented as follows:
By Component
Solution
Service
By Solution
Real-Time streaming analytics
Security solution
Data management
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