November 23, 2022

IoT Device Management Platform Market Size to Reach Value

NEWARK, Del, June 13, 2022 (GLOBE NEWSWIRE) — According to analysis of the IoT device management platform by Future Market Insights (IMF), demand in the market will grow at a healthy CAGR of 24.4% from 2022-2032.

The report indicates that the market is expected to reach the valuation of ~US$ 4,463.5 min by the end of 2022. Sales are expected to be driven by factors such as the overall development of network and IoT systems, growing concerns about network security, growing need for health tracking, etc.

IoT device management systems allow organizations to collect and analyze data. It also functions as a bridge between the edge network and the user’s downstream data servers and enterprise applications, which is also expected to increase growth.

An IoT network and device management platform provides centralized management, simple provisioning, and real-time insights into all current devices and integrations to help organizations stay on top of their deployment. The IoT device management platform is integrated with a robust and accessible wireless solution, it allows users to easily expand network and IoT solutions at reduced cost and complexity. Thus, all these advantages offered by the IoT device management platform contribute to the growth of the market.

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Wearable technology, like smartwatches, has huge potential in the IoT space and for many businesses. Fitness and lifestyle based businesses will mainly find this trend advantageous, considering that various smartwatches and wearables are being combined with health and fitness tracking options.

Wearable IoT devices could be used to protect and monitor heart attacks, monitor EMG sensors for stroke patients, and monitor asthma. The IoT device management platform offers features such as real-time device tracking, secure connectivity and data collection, data integration between applications/devices, over-the-air software updates and sensor data analysis for smart wearable devices. Thus, the development of wearable IoT technology is increasing the demand for smart wearable devices.

The agricultural industry is one of the leading industries for the adoption of IoT technologies for a large scale of applications such as smart irrigation, frost fan activation, automated power systems for tracking tanks and feed pans and other mechanized procedures. The predictive analytics feature offered by the IoT device for smart agriculture is the major trend in the agriculture industry, as it helps farmers to plan crop production and storage, marketing approach and crop management. risks.

According to the Business Application Research Center (BARC) report, the adoption of IoT devices in the agriculture industry reached US$75 million in 2020, growing at around 20% annually. Smart agriculture based on IoT technologies allows farmers to reduce waste and improve productivity ranging from the amount of fertilizers used to the number of trips made by agricultural vehicles, and enables well-organized use of resources such as l electricity, water, etc.

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“The request for IoT Device management platforms are proliferating in the manufacturing industry as these platforms help monitor both the equipment parameters and the outcome of each production step, providing manufacturers with more great confidence in analyzing quality problems at the source. The adoption of IoT (Industrial Internet of Things) in manufacturing and the growing use of technologies such as 5G, AI and Big Data will continue to fuel demand,” IMF analyst says.

Key points to remember:

  • By solution, the IoT device management platform segment is expected to account for the leading share of the global IoT device management platform demand in 2022.
  • Based on business size, the small and medium business segment is expected to grow at a robust CAGR of 26.0% until 2032.
  • By industry, the healthcare segment is expected to grow at a CAGR of 33.1% between 2022 and 2032.
  • Europe is expected to grow at the highest CAGR of around 33.0% followed by South Asia and the Pacific in 2032.
  • The market in Japan is expected to grow at a CAGR of around 27.8% until 2032.
  • In India, sales are expected to grow at a CAGR of close 34.0% over the next ten years.

IoT Outlook device management platform by category
By Solution:

  • IoT Device Management Platform
  • Services
    • Professional services
      • Consultant
      • Integration and deployment
      • Support & Maintenance
    • Managed Services

By business size:

  • Large companies
  • Small and medium-sized enterprises (SMEs)

By industry:

  • Manufacturing
  • IT and Telecom
  • Government
  • Health care
  • Transport and logistics
  • Energy and Utilities
  • Detail

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1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Innovation/Development Trends of IoT Device Management Platform

4. Price analysis

4.1. IoT device management platform, pricing models

4.2. Comparative analysis of world average prices

5. COVID-19 Impact Analysis

5.1. Impact of COVID-19 on IoT Device Management Platform Growth

5.2. Market Growth Before COVID-19 (2017-2019)

5.3. Expected recovery scenario (short term/medium term/long term)

5.4. Key Action Points for IoT Device Management Platform Vendors

6. World IoT Device Management Platform Market Demand (Value in US$) Bn) Analysis 2017-2021 and forecast, 2022-2032

6.1. Historical Market Value Analysis (USD Billion), 2017-2021

6.2. Current and Future Market Value Projections (USD Billion), 2022-2032

Click Here For Complete TOC of IoT Device Management Platform Market with 380 Pages Report

More valuable information about IoT Device Management Platform Market
Future Market Insight’s report on IoT Device Management Platform research is segmented into four major sections – Solutions (IoT Device Management Platform (Cloud-Based and On-Premise) and Services (Professional Services (Consulting, Integration & Deployment, and Support & Maintenance, and Managed Services)), Company Size (Small and Medium Enterprises (SMEs) and Large Enterprises), Industry (Industrial, IT & Telecom, Energy & Utilities, healthcare, government, retail, transportation and logistics, and others), and region (North America, Latin America, Europe, East Asia, South Asia and Pacific, and Middle East and Africa), to help readers to understand and evaluate the lucrative opportunities in IoT Device Management Platform prospects.

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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.

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