IoT Device Management Market Size, Share & Trends Analysis Report By Component (Solutions, Services), By Solution, By Service, By Organization Size (SME, Large Enterprise), By Vertical, And Segment Forecasts, 2018 - 2025

Industry Insights

The global IoT device management market size was pegged at USD 605.9 million in 2016 and is expected to expand at a 28.3% CAGR over the forecast period. Growing emphasis on increasing operational efficiencies and managing connected devices is anticipated to drive market growth. Major players in the IoT industry are undertaking various initiatives, such as the formation of Open Mobile Alliance (OMA), for standardizing protocols. This has also helped boost the growth of the industry.

The penetration of communication and networking technologies and the need for real-time analytics, connected assets, and security of machines has led to the adoption of IoT device management. It assists in provisioning and authentication, configuration and control, software updates and maintenance, and monitoring and diagnostics of connected devices.

Increasing adoption of Internet-of-Things (IoT) for various operations has created significant demand in this market. The rapid change in technology and the need for efficient management of connected devices is leading to the development of solutions such as real-time analytics, security solutions, and data management solutions.

These solutions are designed to cater to the needs of manufacturing, automobile, and other industries. They enable efficient management of devices and connected assets providing network security, authentication, and API security to users. Security solutions are predicted to be the fastest-growing solution over the forecast period.

The solutions segment in North America is expected to experience substantial growth over the forecast period, owing to increasing technological advancements and developments in network and communication infrastructure in the region. The market is dependent on communication and network infrastructure for connecting devices and assets digitally.

Component Insights

By component, the market is bifurcated into solutions and services. The services segment is expected to register the fastest growth over the forecast period and is expected to be the largest in terms of revenue by the end of the forecast period. Services under this segment include professional and managed services. The solutions segment accounted for the largest market share in 2016 but is expected to witness slow growth over the forecast period, thereby losing its dominance by 2025.

Solution Insights

The solutions segment is further segregated into real-time analytics, data management, security solutions, remote monitoring, and network bandwidth management. The security solutions segment is anticipated to contribute significantly to market growth.

The increasing need for securing data, connected devices, and connected assets will driving the growth of the overall market for solutions. These solutions are designed to meet various customer requirements related to authentication, security, and maintenance. Network bandwidth management is predicted to be the second-largest contributor in the market. It is required for measuring and controlling communication traffic on a network for efficient working of connected devices and assets.

Service Insights

Managed services are expected to expand at a higher CAGR compared to professional services. Increasing the adoption of connected devices is elevating demand for managed services as they enable enterprises to focus on core business operations. The key advantage of managed services is their expertise, which can be exploited by customers.

The professional services portfolio is designed to reduce the complexity of IoT systems. The segment is predicted to account for the largest market share and witness significant growth over the forecast period.

Organization Size Insights

By size of organization, the IoT device management market has been categorized into SMEs and large enterprises. The SME segment is expected to exhibit the highest CAGR over the forecast period. Increased adoption of these solutions by SMEs for various operations is presumed to drive segment growth.

Large-scale industries are increasingly adopting connected device management solutions for various activities related to manufacturing, transportation and logistics, and assets management. The large enterprise segment is projected to witness a relatively slower growth rate as compared to SMEs but is predicted to dominate the market in terms of size over the forecast period.  

Vertical Insights

IoT device management technologies are predicted to transform the automobile and healthcare sectors significantly. Newer, technology-based solutions are changing the nature of business sectors across the globe. The healthcare industry is expected to witness the highest growth rate over the forecast period.

The transportation sector is also slated to witness strong growth owing to the increasing adoption of IoT device management solutions. The manufacturing segment is presumed to dominate the connected devices market over the forecast years. Technological advancements and development of communication and networking technologies are presumed to be prominent factors driving the market growth.    

Regional Insights

The North America market is expected to hold the largest share during the forecast period owing to infrastructural developments, heavy adoption of the latest networking technologies, and increasing penetration of cloud technologies. The U.S. is the primary contributor to the North America market.

The Asia Pacific market is projected to exhibit the highest CAGR during the forecast period. This is primarily driven by infrastructural developments taking place in the region and supportive economic conditions. Additionally, various initiatives taken by governments in different countries for the development of digitalization are expected to provide new growth opportunities to players.

IoT Device Management Market Share Insights    

Key market participants in the market are IBM Corporation; Aeris Communications, Inc.; Microsoft Corporation; Bosch Software Innovations; Oracle Corporation; PTC; and Advantech Co. Ltd.

Physical component providers and system integrators in the connected devices management industry are establishing standardized protocols for the efficient functioning of the market for IoT device management. They are making significant investments in R&D to gain a strategic advantage over their competitors. Various companies are undertaking measures such as collaborations with and acquisitions of emerging players in device management and communication technologies to develop effective IoT device management solutions. The initiation of Open Mobile Alliance (OMA) and other collaborative steps undertaken for forming standardized protocols is also driving the growth of the market.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global IoT device management market report based on component, solution, service, organization size, vertical, and region:

• Component Outlook (Revenue, USD Million, 2014 - 2025)

  • Solution

  • Services

• Solution Outlook (Revenue, USD Million, 2014 - 2025)

  • Real-Time Streaming Analytics

  • Security Solutions

  • Data Management

  • Remote Monitoring

  • Network Bandwidth Management

• Service Outlook (Revenue, USD Million, 2014 - 2025)

  • Professional

  • Managed

• Organization Size Outlook (Revenue, USD Million, 2014 - 2025)

  • SMEs

  • Large Enterprise        

• Vertical Outlook (Revenue, USD Million, 2014 - 2025)

  • Retail

  • Healthcare

  • Transportation & Logistics

  • Utilities

  • Manufacturing

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Mexico

  • Middle East & Africa (MEA)