The fragmented IoT device management market is likely to swell in the coming years, with several new players acquiring a firm foothold in the burgeoning market.
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Leading players in the global IoT device management market include Robert Bosch GmbH, ARM Ltd., HP, Google, Intel Corporation, IBM Corporation, Oracle Corporation, Microsoft Corporation, Smith Micro Software, and SAP SE.
The constant need for new data monitoring mechanisms is likely to ensure steady expansion of the IoT device management market, entailing strong prospects for new players over a number of years.
According to Transparency Market Research (TMR), the global IoT device management market is expected to exhibit a robust CAGR of 31.5% in the 2017-2025 forecast period.
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Growing Government Support for Public Cloud to Help IoT Device Management Market
Public cloud is likely to remain the leading contributor to the global IoT device management market in the coming years due to the cost benefits it provides to users. Proactive government efforts in developed countries to expand their telecommunication networks by boosting the availability of public cloud services have been vital for the IoT device management market.
The higher capital base of large enterprises has allowed them to adopt technological advancements such as IoT device management relatively easily, which has led to top-heavy distribution of the IoT device management market in the business sector. Many leading players have focused on proactively incorporating advanced technological solutions such as IoT devices in their daily workflow, which has proved vital for the global IoT device management market.
Rising awareness about the utility of IoT device management tools and their increasing availability across the several financial spectra of the business sector is likely to drive the global IoT device management market at a steady rate in the coming years.
Widespread Adoption of Smart Home Technology in North America Drives Demand
North America is the leading regional segment of the global IoT device management market. This is mainly due to the widespread adoption of smart home technology across the U.S. and Canada.
These highly prosperous countries also house several leading players in the IoT sector, which has made distribution much easier. The steady presence of technology giants such as IBM, Microsoft, Google, and Intel Corporation is likely to remain a key driver for the North America IoT device management market in the coming years.
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The rising use of data analytics in various sectors is a vital driver for the global IoT device management market. The benefits provided by data analytics in understanding the demographic breakdown of consumers has led several sectors to incorporating information tracking technology into their regular workflow, which has been enhanced by the ease of using IoT devices.
The rising use of smartphone-based IoT devices is also likely to aid the growth of the IoT device management market, as smartphone-based operation provides an easy means to accumulate data through digital means.
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