The global IoT device management market is experiencing growth due to a rise in adoption of IoT devices and growth in need of data security and privacy.

WILMINGTON, DE, UNITED STATES, February 13, 2025 /EINPresswire.com/ -- The global IoT device management market report generated $2.2 billion in 2022, and is estimated to reach $29.5 billion by 2032, witnessing a CAGR of 30.2% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Factors such as the rise in adoption of IoT devices, and growth in need of data security and privacy primarily drive the growth of the IoT device management market. However, inconsistency in the IoT standards for compatibility hamper market growth to some extent. Moreover, rise in adoption of cloud base devices is expected to provide lucrative opportunities for market growth during the forecast period.

Major industry players such as - Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, PTC, Inc., Telit, Smith Micro Software, Inc., Aeris Advantech Co., Ltd., Enhanced Telecommunications, Bosch.IO Gmbh

Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/A13166

Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the IoT device management market revenue, owing increase in adoption and growth of advanced and latest technologies, such as cloud computing, AI, and ML. However, the Asia-Pacific region is expected to witness the fastest CAGR of 34.1% from 2023 to 2032, owing to rise in the number of digital transformation initiatives with growth in adoption and growth of advanced technology, such as cloud computing, and data analytics drives the need for IoT device management solutions, particularly in countries such as China, Japan, and India.

Based on enterprise size, the large enterprise segment held the highest market share in 2022, accounting for nearly two-thirds of the IoT device management market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to remotely check the functionality and health of IoT devices, diagnose problems, and carry out upgrades and maintenance without physical access. However, small and medium-sized enterprise segment is projected to manifest the highest CAGR of 32.3% from 2023 to 2032, owing to the need to implement cost-effective IoT device management solutions, such as risk & compliance, encryption, and incident management drives the adoption of market among SMEs.

Buy this Complete Report (305 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/iot-device-management-market/purchase-options

Based on component, the solution segment held the highest market share in 2022, accounting for more than two-thirds of the IoT device management market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to real-time streaming analytics, security solutions, data management, remote monitoring, and network bandwidth management. However, the services segment is projected to manifest the highest CAGR of 32.6% from 2023 to 2032, owing to providing reliable, secure, and efficient service offerings that meet the needs of both customers and providers.


Based on end user, the manufacturing segment held the highest market share in 2022, accounting for more than one-third of the IoT device management market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to surge in the adoption of industrial IoT, a rise in the trend of adoption of automation in manufacturing, and an increase in penetration of smart devices in the manufacturing sector. However, the transportation segment is projected to manifest the highest CAGR of 34.9% from 2023 to 2032, owing to increase in demand for digital solutions in the smart transport industries, as it is projected to contribute to the development of intelligent transportation systems, which is expected to impact the services and customer satisfaction.

Enquiry Before Buying: https://www.alliedmarketresearch.com/connect-to-analyst/A13166

The report provides a detailed analysis of these key players of the IoT device management market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

David Correa
Allied Market Research
+ + 1 800-792-5285
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.