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IoT Device Management Market To Reach $43.82Bn By 2033

IoT Device Management Market To Reach $43.82 Billion By 2033

February 2026 | Report Format: Electronic (PDF)

IoT Device Management Market Growth & Trends

The global IoT device management market size is estimated to reach USD 43.82 billion by 2033, expanding at a CAGR of 21.8% from 2026 to 2033, according to a new report by Grand View Research, Inc. The industry is growing significantly due to the factors, such as the digital revolution across verticals and greater implementation of IoT devices across end-use industries. The rising adoption of smartphones and internet services across the process industries owing to the growing focus of enterprises on digital transformation has considerably fueled the industry growth. Moreover, declining selling prices of sensors and growing, standardization in the business processes, are anticipated to drive the market during the forecast period.

The rising adoption of IoT technology for managing, monitoring, planning, and maintaining industrial equipment and commercial products throughout the supply chain will also drive market growth. As several enterprises deploy IoT technology to enhance their product development, a rise in the need for efficient IoT device management solutions has emerged significantly. The IoT device management solutions help enterprises manage various sensors & gateways and multiple internet protocols coupled with features, such as remote configuration, auto device discovery, and automated onboarding. For instance, in March 2022, Whirlpool Corp., a manufacturer of home appliances partnered with PTC Inc. to improve product development efficiency throughout the lifecycle of products and brands through the transformation of its factories.

Whirlpool Corp. uses Windchill, PTC’s PLM solution, as the centralized source of data for BOM transformation (EBOM, MBOM, SBOM), BOM management, testing, requirements management, and validation. Furthermore, Whirlpool Corp. is experimenting with other technologies, such as Augmented Reality (AR), data-driven design, and digital twin, to extend Product Lifecycle Management (PLM) across the enterprise. Thus, demand for IoT device management increased significantly across the asset-intensive verticals, such as automobile, manufacturing, and metal & mining firms. Moreover, globally, IoT device management adoption has been steadily rising due to the growing use of IoT for predicting asset downtime and reducing excessive maintenance costs.

For instance, in October 2022, Imagimob AB, a Stockholm-based edge AI platform provider, collaborated with Syntiant, a provider of AI chip solutions, to integrate Imagimob AB’s tinyML platform with Syntiant's NDP120 low-power processor. Imagimob AB's platform enables developers to launch commercial Machine Learning (ML) applications and build models quickly on the NDP120 processor, which is ideal for battery-constrained IoT applications. Various applications are supported by the combined solution, such as keyword spotting, fall detection, event detection, gesture detection, and anomaly detection. In the Imagimob AB platform, there is a fall detection, which includes metadata (video), a pre-trained ML model, and an annotated dataset in H5 format, which detects falls from a belt-mounted device using the IMU data.

Data collection and deployment on an edge device are completed in minutes with Imagimob AB’s AI development platform. The AI platform of Imagimob AB is used in various IoT products, including gesture recognition, sensors to monitor audio, predictive maintenance, material detection, and human motion. An increased need for a centralized device to manage the connected devices and leverage devices’ full capabilities for optimum performance is expected to drive market growth during the forecast period. Moreover, an increase in awareness regarding the benefits of IoT technology among healthcare facilities amid the COVID-19 pandemic is poised to drive the adoption of IoT device management across the healthcare vertical over the forecasted period.

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IoT Device Management Market Report Highlights

The solution segment accounted for the largest revenue share of over 63.0% in 2025. The aggressive adoption of IoT devices across various industries, such as smart cities, healthcare, manufacturing, and transportation, necessitates robust management solutions to oversee the performance, security, and lifecycle of these devices.
The professional segment accounted for the largest revenue share in 2025. Implementing and managing IoT solutions can be complex, involving numerous devices, systems, and data streams.
The private cloud segment accounted for the largest revenue share in 2025. Scalability and integration with existing IT infrastructure fuel the adoption of private cloud in IoT device management.
The large enterprise segment accounted for the largest revenue share in 2025. Large enterprises implement extensive IoT networks across multiple locations, necessitating advanced device management solutions to effectively monitor, control, and update numerous connected devices.

IoT Device Management Market Segmentation

Grand View Research has segmented the IoT device management market report based on component, solution, services, deployment mode, enterprise size, end use, and region:

IoT Device Management Component Outlook (Revenue, USD Billion, 2021 - 2033)