Global IoT Data Management Market Size, Share & Trends Analysis Report By Component, By Organization Size (Large Enterprises and SMEs), By Deployment Type, By Application, By Regional Outlook and Forecast, 2024 - 2031

Global IoT Data Management Market Size, Share & Trends Analysis Report By Component, By Organization Size (Large Enterprises and SMEs), By Deployment Type, By Application, By Regional Outlook and Forecast, 2024 - 2031

The Global IoT Data Management Market size is expected to reach $202.34 billion by 2031, rising at a market growth of 14.5% CAGR during the forecast period.

IoT-enabled healthcare systems rely on vast amounts of data to monitor patients’ vital signs, track medical equipment, and manage hospital operations. The integration of IoT in healthcare not only enhances patient care by providing real-time monitoring and analytics but also improves the efficiency of healthcare systems by reducing manual interventions and improving the coordination of care. As healthcare continues to evolve towards more connected and data-driven solutions, the demand for robust data management platforms will only increase, facilitating better patient outcomes and operational efficiencies. Thus, the smart healthcare segment procured 17% revenue share in the market in 2023.

The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In August, 2024, Oracle and AT&T have partnered to enhance 5G connectivity, focusing on IoT applications. By integrating AT&T's IoT network APIs into Oracle's Enterprise Communications Platform, the collaboration aims to provide users with a streamlined interface for managing IoT devices securely in various industries. Additionally, In July, 2024, SAS Institute Inc. has announced its partnership with Divirod by welcoming the company into its IoT Partner Ecosystem. This collaboration will leverage AI and IoT analytics to enhance water management, providing real-time insights into water-related risks and aiding organizations in mitigating climate change impacts while improving decision-making for water resources.

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the IoT Data Management Market. Companies such as Amazon Web Services, Inc., Cisco Systems, Inc., IBM Corporation are some of the key innovators in IoT Data Management Market. In July, 2024, Microsoft Corporation teamed up with Lumen Technologies, a publicly traded company specializing in telecommunications and technology services to enhance Lumen's digital transformation using Microsoft Cloud. Microsoft will leverage Lumen’s network to support increased demand for its AI-driven data centers. This collaboration emphasizes both current and future network infrastructure to support a wide range of workloads and empower global organizations.

Market Growth Factors

With the rise of connected devices, businesses seek ways to capture, store, and analyze data instantaneously to enable dynamic responses. For example, real-time data analytics in manufacturing can help predict equipment failure, optimize production processes, and manage supply chains more effectively.

Additionally, consumer electronics and wearables are central to everyday life's digital transformation. From voice assistants in smart homes to health-tracking wearables, the demand for seamless connectivity between devices creates an opportunity for advanced data management solutions that can handle the intricacies of multiple connected devices. Consumer electronics and wearables are central to everyday life's digital transformation. From voice assistants in smart homes to health-tracking wearables, the demand for seamless connectivity between devices creates an opportunity for advanced data management solutions that can handle the intricacies of multiple connected devices.

Market Restraining Factors

One of the primary restraints in the IoT data management market is the high initial investment and operational costs associated with setting up IoT data management systems. Implementing an IoT data management solution requires considerable upfront hardware, software, and infrastructure costs. Therefore, data security and privacy concerns related to IoT data management solutions are hindering the market's growth.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.

Component Outlook

Based on component, the market is divided into solution and services. The services segment held 33% revenue share in the market in 2023. This substantial share is due to the services' critical role in supporting the deployment and ongoing management of IoT data management solutions. The services segment encompasses a range of offerings, including consulting, integration, maintenance, and support services, which are essential for ensuring the effective operation and optimization of IoT data management systems.

Solution Outlook

The solution segment is further subdivided into data integration, data analytics & visualization, metadata management, data security, data migration, and others. In 2023, the data security segment held 17% revenue share in the market. The substantial revenue share of this segment reflects the increasing emphasis on securing IoT data from various threats and vulnerabilities.

Service Outlook

The services segment is further subdivided into managed services, consulting services, and support & maintenance services. The consulting services segment acquired 30% revenue share in the market in 2023. This significant share highlights the demand for expert advice and strategic guidance in implementing and optimizing IoT data management solutions.

Organization Size Outlook

On the basis of organization size, the market is segmented into large enterprises and SMEs. The large enterprises segment recorded 64% revenue share in the market in 2023. This significant share underscores large organizations' extensive adoption of IoT data management solutions, which typically have more complex data requirements and greater resources to invest in advanced technologies.

Deployment Type Outlook

Based on deployment type, the market is categorized into hybrid cloud, public cloud, and private cloud. The public cloud segment witnessed 34% revenue share in the market in 2023. Public cloud services are provided by third-party vendors who own and manage the cloud infrastructure, offering IoT data management solutions on a pay-as-you-go basis.

Application Outlook

By application, the market is divided into smart manufacturing, smart energy & utilities, smart mobility & transportation, smart healthcare, building & home automation, connected logistics, smart retail, and others. In 2023, the smart manufacturing segment registered 24% revenue share in the market. This dominance reflects the increasing reliance on IoT solutions within manufacturing industries to streamline production lines, enable predictive maintenance, improve quality control, and facilitate real-time data analytics.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 28% revenue share in the market. This region is home to some of the fastest-growing economies in the world, including China, India, Japan, and South Korea, all of which are heavily investing in IoT and smart technologies.

Recent Strategies Deployed in the Market

• Aug-2024: Oracle and AT&T have partnered to enhance 5G connectivity, focusing on IoT applications. By integrating AT&T's IoT network APIs into Oracle's Enterprise Communications Platform, the collaboration aims to provide users with a streamlined interface for managing IoT devices securely in various industries.
• Jul-2024: SAS Institute Inc. has announced its partnership with Divirod by welcoming the company into its IoT Partner Ecosystem. This collaboration will leverage AI and IoT analytics to enhance water management, providing real-time insights into water-related risks and aiding organizations in mitigating climate change impacts while improving decision-making for water resources.
• Jul-2024: Microsoft Corporation teamed up with Lumen Technologies, a publicly traded company specializing in telecommunications and technology services to enhance Lumen's digital transformation using Microsoft Cloud. Microsoft will leverage Lumen’s network to support increased demand for its AI-driven data centers. This collaboration emphasizes both current and future network infrastructure to support a wide range of workloads and empower global organizations.
• Jun-2024: IBM Corporation teamed up with Telefonica Tech, a technology services and solutions provider to advance AI, analytics, and data governance solutions. Their collaboration aims to create an open, hybrid, and multi-cloud platform focused on data management and AI, enhancing and expediting business initiatives for their clients.
• May-2024: Salesforce.com, Inc. teamed up with IBM Corporation, a multinational technology and consulting company integrating IBM's Watson AI and Data Platform with Salesforce's Einstein 1 Platform. This collaboration aims to enhance customer flexibility in AI and data use, enabling data-driven decisions and streamlined actions within workflows. They also aim to simplify the generative AI landscape for clients.
• May-2024: Oracle Corporation teamed up with Digital Realty, a real estate investment trust to boost AI growth among enterprises. Their collaboration will create hybrid solutions to tackle Data Gravity, speed up AI service deployment, and enhance data and AI outcomes. This partnership aims to offer customized, efficient GPU-based infrastructure solutions for diverse enterprise needs.

List of Key Companies Profiled

• SAP SE
• Dell Technologies, Inc.
• Google LLC
• Hewlett Packard Enterprise Company
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Microsoft Corporation
• Oracle Corporation
• PTC Inc.
• Salesforce, Inc.
• SAS Institute Inc.
• Cisco Systems, Inc.
• IBM Corporation

Global IoT Data Management Market Report Segmentation

By Component

• Solution
• Data Integration
• Data Analytics & Visualization
• Metadata Management
• Data Security
• Data Migration
• Other Solution Type
• Services
• Managed Services
• Consulting Services
• Support & Maintenance Services

By Organization Size

• Large Enterprises
• SMEs

By Deployment Type

• Hybrid Cloud
• Private Cloud
• Public Cloud

By Application

• Smart Manufacturing
• Smart Energy & Utilities
• Smart Mobility & Transportation
• Smart Healthcare
• Building & Home Automation
• Connected Logistics
• Smart Retail
• Other Application

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA