The factors that play an important role in the growth of IoT device management industry include increasing
demand, increasing urbanization & industrialization, need for digitalization, growing demand for IoT services,
increasing penetration of communication & networking technologies, growing penetration of smart devices &
IoT sensors, technological advancements and increasing government support for public cloud. Moreover,
growing emphasis on rising operational efficiencies and managing connected devices is expected to drive market
growth in the next couple of years.
The probable stakeholders for market include network operators, cloud-based service providers, IoT solution
providers, network infrastructure providers, device management providers and machine-to-machine, IoT &
telecommunication companies. The market is widely analyzed based on different regional factors such as gross
domestic product (GDP), demographics, acceptance, inflation rate and others. The market is categorized based
on component, solution, service, organization size, deployment, vertical, end user, and geography.
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By size of organization, the market is categorized into large and SMEs enterprises. The “SMEs” are projected to
grow at a high CAGR during the forecast period. Large industries are increasingly adopting connected device
management solutions for various activities related to transportation & logistics, manufacturing, and assets
management. The “large enterprise” segment is expected to hold the highest market share over the forecast
period.
North America has been at the forefront with regards to IoT device management market and will continue to
rule the roost in the years to come. The growing infrastructural developments, increasing penetration of cloud
technologies and heavy adoption of latest networking technologies are major factors driving the growth of
market in this region.On the other hand, Asia Pacific is anticipated to hold the highest market share in the
coming years due to high demand for smart city infrastructure and healthcare in developing countries such as
India and China.
The key players contributing to the robust development of the IoT device management industry include IBM
Corporation, Advantech Co. Ltd., Aeris Communications Inc., Robert Bosch GmbH, Bosch Software Innovations,
Microsoft Corporation, Oracle Corporation, PTC Inc., Smith Micro Software, DevicePilot, Tibbo Systems, Wind
River Systems Inc., Cumulocity GmbH, Capricode and SAP SE. These market players are focusing on inorganic
growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are
the need of the hour.
Market Segment: