IoT Device Management Market is expected to surpass $2,559.6 Million by 2022 at a CAGR of 29.8%

(IT-NEWSWIRE.COM, October 30, 2019 ) According to the new market research report on "IoT Device Management Market by Solution (Real-Time Streaming Analysis, Security Solutions, Data Management, Remote Monitoring, Network Bandwidth Management), Service, Application Area, Deployment Model, and Organization Size - Global Forecast to 2022", Internet of Things (IoT) Device Management Market - Global Forecast to 2022, the market is expected to grow from USD 693.4 Million in 2017 to USD 2,559.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 29.8%.

This report covers major IoT device management solutions, such as data management, real-time streaming analytics, security solution, remote monitoring, and network bandwidth management, along with the market trends between 2017 and 2022. The growing proliferation of connected devices and advent of intelligent sensors are driving the growth of the global IoT device management market. The critical need for converged device management platform is also a major driving factor for IoT device management market.

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North America is expected to hold the largest market share in the IoT device management market

As per the geographic analysis, North America is the largest region in the IoT device management market. Countries, such as the US and Canada are the major growth drivers of the region. The strong financial position of North America allows these countries to invest heavily in leading IoT-enabled devices and solutions/services.

Smart manufacturing is expected to dominate in the application areas during the forecast period

IoT plays a key role in the manufacturing application with the help of identification technologies. With the connection of objects or things with Information Technology (IT) or IoT, either through embedded smart devices or by using unique detectors and data carriers that can communicate with an intelligent supporting network infrastructure and information systems, production processes can be optimized and the entire lifecycle of objects from production to dumping can be monitored. By tagging items and containers, a greater transparency can be obtained on the status of the shop floor, the location and disposition of materials, and the status of production machines.

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Data management is expected to hold the largest market share in the IoT device management market

Data management is one of the most essential requirements of an organization that is deploying IoT technology. The connected devices, such as sensors, tags, and actuators, generate and transmit large amounts of data every day. The traditional data management techniques are inadequate to store, analyze, and retrieve this data. Thus, data management for IoT is gaining a huge traction and is expected to hold the largest market share during the forecast period.

The major vendors covered in the IoT device management market include Microsoft Corporation (US), IBM Corporation (US), Oracle Corporation (US), PTC Inc. (US), ARM Ltd. (UK), Aeris (US), Smith Micro Software (US), Tibbo Systems (Taiwan), DevicePilot (UK), Xively (US), Zentri (US), Cumulocity GmBH (Germany), Proximetry (US), Einfochips (US), Wind River Systems Inc. (US), and Capricode (Finland).

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IoT Device Management Market is expected to surpass $2,559.6 Million by 2022 at a CAGR of 29.8%