IoT device management market growth is driven by increasing adoption of IoT in various industries

The global IoT device management market revenue is expected to expand at a lucrative CAGR over the forecast period. Technological advancements in innovative product and service development are expected to drive growth of the global IoT device management market over the forecast period.

The global device management market report has been segmented on the basis of component, organization size, application, deployment, and region. On the basis of component, the target market is segmented into solution and services. The solution segment is further segmented into real-time streaming analytics, security solutions, data management, remote monitoring, and network bandwidth management. The services segment is segmented into professional and managed.

On the basis of organization size, the target market is segmented into small and medium-sized enterprises (SME) and large enterprise. The small and medium-sized enterprises (SME) segment is expected to account for highest CAGR over the forecast period, owing to increasing adoption of IoT services for various operations in small organizations.

On the basis of application, the target market is segmented into smart retail, smart healthcare, smart transportation & logistics, smart utilities, smart manufacturing, and others. The smart healthcare application segment is expected to register highest share in the target market over the forecast period.

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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to technological advancements, improved communication and network infrastructure in various countries in the region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to increasing demand for smart city infrastructure and automation in healthcare industry in developing counties such as India, China, and Japan in the region.

Key players operating in the global IoT device management market IBM Corporation, Aeris Communications, Inc., Microsoft Corporation, Bosch Software Innovations GmbH, Oracle Corporation, PTC Inc., Advantech Co, Ltd., Intel Corporation, SAP SE, and Smith Micro Software, Inc.