The global IoT device management market was valued at US$ 2.8 billion in 2023 and is estimated to reach US$ 29.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 30.2% during the forecast period from 2024 to 2032.

The Internet of Things (IoT) device management market is the domain of the technology sector that concentrates on controlling and managing IoT devices. IoT devices are physical items that have software, sensors, and connections built into them so they can transmit data to other devices and systems. These electronic devices cover a wide range of products, like connected automobiles, industrial machinery, smartwatches, and smart household appliances.

Factors Influencing Market Growth

- Factors like the rise in the adoption of IoT devices, and the growth in demand for data privacy and security primarily propel the growth of the IoT device management market.

- The inconsistency in the IoT standards for compatibility hinders the growth of the IoT device management market to some extent.

- The rise in the adoption of cloud-based devices is anticipated to offer lucrative opportunities for the IoT device management market forecast.

Impact of COVID-19

The outbreak of the COVID-19 pandemic has influenced all walks of life, including businesses from all end-use industries. Public sector organizations and government agencies, telecommunication, IT, and healthcare invested in IoT technology to deal with the pandemic and acquire the best possible outcomes in saving energy and money.

Therefore, the growth in IoT investment during the COVID-19 pandemic is a major factor contributing to the expansion of the IoT device management market. IoT device management software needs have been constantly growing due to the overall adoption of networking and communication technologies, as well as the need for connected assets, real-time analytics, and machine security.

Regional Analysis

In 2023, North America dominated the global IoT device management market in terms of revenue and is anticipated to maintain its position during the forecast period because the rise in the adoption of Industry 4.0 and other appearing technologies in various industry applications has led to a considerable growth in demand for IoT device management answers for enhanced digital systems.

Also, Asia Pacific is anticipated to notice significant growth during the forecast period because of the rise in several digital transformation initiatives with the growth in the adoption of cutting-edge technology, like data analytics and cloud computing forces the demand for IoT device management solutions, specifically in countries like Japan, China, and India.

Leading Companies

The leading prominent companies profiled in the global IoT device management market are

- Microsoft Corporation
- Oracle Corporation
- International Business Machines Corporation, Ptc, Inc.
- Telit
- Smith Micro Software, Inc.
- Aeris
- Advantech Co., Ltd.
- Enhanced Telecommunications
- Bosch.Io Gmbh
- Other prominent key players

Segmentation Outline

The global IoT device management market segmentation focuses on Enterprise Size, End User, Component, and Region.

Segmentation based on Enterprise Size

- Large Enterprise
- Small and Medium-sized Enterprise (SMEs)

Segmentation based on End User

- Retail
- Healthcare
- Transportation
- Manufacturing
- Utilities
- Others

Segmentation based on Component

- Solution
- Service

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa