Internet of Things (IoT) Device Management

Global Internet of Things (IoT) Device Management Market to Reach US$32.9 Billion by 2030

The global market for Internet of Things (IoT) Device Management estimated at US$6.8 Billion in the year 2023, is expected to reach US$32.9 Billion by 2030, growing at a CAGR of 25.2% over the analysis period 2023-2030. Solutions Component, one of the segments analyzed in the report, is expected to record a 23.2% CAGR and reach US$15.2 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 27.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.0 Billion While China is Forecast to Grow at 24.5% CAGR

The Internet of Things (IoT) Device Management market in the U.S. is estimated at US$2.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.0 Billion by the year 2030 trailing a CAGR of 24.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 22.0% and 21.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 17.5% CAGR.

Global Internet of Things (IoT) Device Management Market - Key Trends and Drivers Summarized

Why Is Internet of Things (IoT) Device Management Critical for Scaling IoT Deployments?

IoT device management is essential for organizations to monitor, control, and secure large networks of connected devices. As IoT ecosystems grow, managing the lifecycle of these devices—from provisioning and authentication to software updates and maintenance—becomes increasingly complex. IoT device management solutions enable businesses to ensure that their devices are operating correctly, securely, and efficiently. These solutions also facilitate remote management and troubleshooting, reducing the need for on-site interventions. IoT device management is crucial in sectors such as smart cities, industrial automation, and healthcare, where large numbers of devices must be monitored and maintained to ensure continuous and reliable operations.

How Are Technological Advancements Shaping the IoT Device Management Market?

Technological advancements in cloud computing, artificial intelligence, and cybersecurity are enhancing IoT device management capabilities. Cloud-based IoT device management platforms allow businesses to manage and update devices remotely, ensuring that large-scale deployments remain secure and operational without physical intervention. AI-driven analytics are being integrated into device management platforms to predict failures and automate corrective actions, reducing downtime and improving system reliability. Additionally, advancements in cybersecurity, such as end-to-end encryption and secure firmware updates, are addressing the growing concerns around IoT security, ensuring that connected devices remain protected from cyberattacks. These technological innovations are making IoT device management more efficient, scalable, and secure.

How Do Market Segments Define the Growth of the IoT Device Management Market?

Key components include software platforms and services, with software platforms leading the market as businesses rely on these solutions to manage large networks of devices. Deployment models include cloud, on-premises, and hybrid solutions, with cloud-based platforms gaining significant traction due to their scalability and ease of use. Industry verticals include smart cities, healthcare, manufacturing, and transportation, with smart cities emerging as a major growth area as municipalities adopt IoT solutions to improve urban infrastructure and services. The market is growing rapidly in regions like Asia-Pacific and North America, where IoT deployments are expanding across industries.

What Factors Are Driving the Growth in the IoT Device Management Market?

The growth in the IoT device management market is driven by several factors, including the increasing number of IoT devices, the need for remote management capabilities, and advancements in cloud-based technologies. As IoT networks expand, businesses are adopting device management solutions to ensure that devices remain operational, secure, and updated. The rise of cloud computing is also fueling market growth by making it easier for organizations to manage devices remotely, regardless of geographic location. Additionally, the growing emphasis on cybersecurity is driving the adoption of IoT device management solutions that offer secure firmware updates and threat detection, ensuring that connected devices remain protected from cyberattacks.

Select Competitors (Total 169 Featured) -

• Advantech Co, Ltd.
• Aeris Communications, Inc.
• Bosch Software Innovations GmbH
• Cumulocity GmBH
• Einfochips
• Enhanced Telecommunications Inc.
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• Oracle Corporation
• Particle
• PTC Inc.
• SAP SE
• Smith Micro Software, Inc.
• Wind River Systems
• Xively

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