The IoT Device Management Platform Market size is anticipated to total USD 4.4 Billion in 2022. With sales growing at a 24.4% CAGR, the market valuation is projected to top USD 39.7 Billion by 2032.
| Attribute | Details |
|---|---|
| IoT Device Management Market Estimated Value (2022) | USD 4.4 Billion |
| Projected Market Size (2032) | USD 39.7 Billion |
| Value-based CAGR% (2022 to 2032) | 24.4% |
| Top 5 Vendor Market Share | Around 35% |
IoT device management platform market currently represents nearly 55% of sales in the overall IoT platform market. Increasing demand for connected devices will escalate the IoT device management platform sales.
The COVID-19 outbreak has increased the usage of connected devices across several industry verticals because of its uncomplicated features. Connected devices help in enhancing customer experience and offer improved services.
Additionally, rising utilization of IoT technology is also expected to stimulate demand. For instance, according to the Ericsson Mobility Report, by the end of year 2027, nearly 40% cellular IoT connections are estimated to gain broadband IoT with 4G connectivity. IoT device management platform may be utilized in conjunction with IoT security software, IoT analytics software, and IoT platforms.
IoT devices management platforms are utilized in manufacturing, transportation and logistics, retail, healthcare, and energy and utilities sectors. An operative IoT device management platform is an important element of any successful IoT implementation.
The platform enables businesses to manage their internet-connected devices remotely. Thus, the benefits offered by the IoT device management platform in various industry verticals and it’s easy-to- use features are driving the market.
The IoT device management platform demand is expected to increase at a 24.4% CAGR between 2022 and 2032, in comparison with the 19.5% CAGR registered during 2017-2021.
IoT device management platform permits authentication and provisioning, monitoring and diagnostics, connectivity enablement, software updates and maintenance. It also offers modern analytical capabilities, and improved security, which is expected to boost sales.
A modern network and device management platform helps solution developers reduce development and testing time, thereby improving the go-to-market strategy. When an IoT device management platform is bundled with a connectivity offering, the platform offers everything users require to immediately get the network running.
Due to the growing cyber threats and increasing number of connected devices, demand for IoT device management platforms will increase.
IoT technology and secure wireless connectivity are changing the conventional elements of urban life, such as streetlights into next-generation intelligent lighting platforms with extended capabilities.
A smart city with IoT can more effectively manage maintenance and infrastructure, therefore lowering prices and enhancing the lives of citizens. As many cities continue to integrate IoT technology, demand for IoT device management platforms will increase.
Growing development and circulation of Internet of Things and Internet of Everything (IoE) technologies depict a crucial enabler in the current smart cities landscape, dominating the smart city model to the big data scale.
As per the report by Ericsson, about 29 billion IoT devices would be connected to the smart cities in 2022. Therefore, increasing industrialization and adoption of IoT device management platform in smart cities is creating opportunities for growth in the market.
Increasing advancement in AIoT technology and machine learning is enabling IoT software developers to incorporate tools that support organizations to automate repetitive tasks and ease workflows connected to Internet of things device management platform.
For instance, machine algorithms can connect sensors with machines, allowing teams to track qualities like equipment condition autonomously, accelerating to better predictive maintenance approaches and prior identification of problems that could influence production or supply chain logistics.
Technology platform such as PTC ThingWorx, a platform created for industrial IoT (IIoT) management, utilizes ML to enhance manufacturing procedure by examining IoT sensor data gathered from several points.
The platform can then put forward different ways to automate workflow procedures and improves machine maintenance approaches through automation procedure.
High Demand from Large Enterprises in the UK To Steer Sales of IoT Device Management Platform
According to the study, UK is predicted to create an absolute $ opportunity of USD 2.9 Billion by 2032. The adoption of the IoT device management platform in large enterprises is higher in the UK as compared to small and mid-sized enterprises.
Large enterprises in the UK are utilizing IoT device management platform to streamline their operations. These platforms help to create optimized workflows through automation. It also reduces repetitive jobs and facilitates exceptional utilization of available machinery and resources. Thus, the benefits offered by the IoT device management platform is driving sales in the UK market.
Rapid Adoption of Wearables in the Healthcare Sector Will Augment Demand for IoT Device Management Platform
The IoT device management platform demand in the USA is expected to account for nearly 75.1% of North America market share through 2032. Increasing adoption of IoT device management platform in the healthcare sector is expected to fuel growth in the USA market.
In the healthcare sector, wearable IoT (WIoT) technology is widely used to enable patient condition tracking and therapy delivery. As per the Rock Health Digital Consumer Adoption report, nearly 54% of USA adults utilizes digital wearable to monitor at least one health parameter (e.g. body temperature, and heart rate) in the year 2020, compared to 42% in the year 2019.
A 2021 study conducted by Healthcare Information and Management Systems Society, Inc. (HIMSS) declares that more than half of providers consider wearable technology beneficial for patient tracking. The presence of prominent players such as IBM Ltd., Oracle, Google, Microsoft, etc. in the U.S. is anticipated to remarkably drive the market.
Rapid Emergence of Start-Ups in India is Spurring Demand for IoT Device Management Platform
Sales in in India are predicted to grow at an impressive 34.0% CAGR between 2022 and 2032. Increasing adoption of sensor technology across various sectors is driving demand in India.
Several industries such as retail, transportation and logic, manufacturing, among others in India are increasingly utilizing sensor technology to offer centralized connected devices and enhance customer experiences.
The next generation smart sensors are developed on smaller chips that offers efficiency, flexibility, and advanced integration. Thus, growing adoption of sensor technology across various industries in India will augment sales in the market.
Rising Adoption of IoT Device Management Services Will Fuel Growth
Based on solutions, demand in the IoT device management platform services segment is expected to increase at a 54.5% CAGR by the end of 2032.
The IoT device management platform services help in refining business procedures of organizations and are utilized for preparing various strategies, evaluating technologies, and formulating IoT architectures. Providers of IoT consulting services also assists non-IT companies with minimum expertise to understand IoT technology.
Sales of IoT Device Management Platforms in Large Enterprises to Remain High
In terms of enterprise size, the large enterprises segment is expected to grow by 6.6X during forecast period. With the help of IoT device management platform in a business, user can monitor devices and assets remotely. Remote monitoring and diagnostics help an organization to cut down costs and avoid unpredicted operational issues.
The usage of IoT device management platform in the large enterprises offers benefits like operational cost reduction, improved productivity, and increased safety. This is expected to drive sales in this segment over the forecast period.
Integration of IoT Device Management Platform in the Healthcare Sector Will Gain Traction
By industry, the healthcare segment is projected to expand at a 33.1% CAGR during the forecast period. IoT device management platform can automate patient care process flow with the support of healthcare mobility solution and other modern IoT technologies, and modern healthcare facilities.
IoT device management platform in healthcare sector permits interoperability, artificial intelligence machine to machine communication, information exchange, and data movement that makes healthcare service delivery functional.
Remote health monitoring via connected devices can save lives in the case of medical crisis like diabetes, heart failures, asthma attacks, etc. Thus, the benefits offered by IoT device management platform in the healthcare sector will contribute to the growth in this segment.
IoT device management platform market players are concentrating on several strategies for increasing their investments in R&D to support future technologies.
Additionally, various companies are acquiring and entering strategic partnerships with other players to develop their own IoT device management platform to serve their customers and lower the churn rate. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | The USA, Canada, Germany, the UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa and South Africa |
| Key Segments Covered | Solution, Enterprise Size, Industry and Region |
| Key Companies Profiled | IBM Ltd; Oracle Corporation; Google; Microsoft; Huawei Services Co., Limited; Bosch.IO GmbH; Amazon Web Services, Inc.; Particle Industries, Inc.; Friendly Technologies; JFrog Ltd.; Mainflux Labs; Ayla Networks, Inc.; Losant; Datadog; Pelion; AVSystem; Software AG; Cumulocity GmbH |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Table 01: Global Market Value (US$ Bn) Analysis (2017 – 2021) By Solution
Table 02: Global Market Value (US$ Bn) Forecast (2022 – 2032) By Solution
Table 03: Global Market Volume (‘000 Units) Forecast (2022 – 2032) By Solution
Table 04: Global Market Value (US$ Bn) Analysis (2017 – 2021) By Enterprise Size
Table 05: Global Market Value (US$ Bn) Forecast (2022 – 2032) By Enterprise Size
Table 06: Global Market Value (US$ Bn) Analysis (2017 – 2021) By Industry
Table 07: Global Market Value (US$ Bn) Forecast (2022 – 2032) By Industry
Table 08: Global Market Value (US$ Bn) Analysis (2017 – 2021) by Region
Table 09: Global Market Value (US$ Bn) Forecast (2022 – 2032) by Region
Table 10: North America Market Value (US$ Bn) Analysis (2017 – 2021) By Solution
Table 11: North America Market Value (US$ Bn) Forecast (2022 – 2032) By Solution
Table 12: North America Market Value (US$ Bn) Analysis (2017 – 2021) By Enterprise Size
Table 13: North America Market Value (US$ Bn) Forecast (2022 – 2032) By Enterprise Size
Table 14: North America Market Value (US$ Bn) Analysis (2017 – 2021) By Industry (1/2)
Table 15: North America Market Value (US$ Bn) Forecast (2022 – 2032) By Industry (1/2)
Table 16: North America Market Value (US$ Bn) Analysis (2017 – 2021) by Country
Table 17: North America Market Value (US$ Bn) Forecast (2022 – 2032) by Country
Table 18: Latin America Market Value (US$ Bn) Analysis (2017 – 2021) By Solution
Table 19: Latin America Market Value (US$ Bn) Forecast (2022 – 2032) By Solution
Table 20: Latin America Market Value (US$ Bn) Analysis (2017 – 2021) By Enterprise Size
Table 21: Latin America Market Value (US$ Bn) Forecast (2022 – 2032) By Enterprise Size
Table 22: Latin America Market Value (US$ Bn) Analysis (2017 – 2021) By Industry (1/2)
Table 23: Latin America Market Value (US$ Bn) Forecast (2022 – 2032) By Industry (1/2)
Table 24: Latin America Market Value (US$ Bn) Analysis (2017 – 2021) by Country
Table 25: Latin America Market Value (US$ Bn) Forecast (2022 – 2032) by Country
Table 26: Europe Market Value (US$ Bn) Analysis (2017 – 2021) By Solution
Table 27: Europe Market Value (US$ Bn) Forecast (2022 – 2032) By Solution
Table 28: Europe Market Value (US$ Bn) Analysis (2017 – 2021) By Enterprise Size
Table 29: Europe Market Value (US$ Bn) Forecast (2022 – 2032) By Enterprise Size
Table 30: Europe Market Value (US$ Bn) Analysis (2017 – 2021) By Industry
Table 31: Europe Market Value (US$ Bn) Forecast (2022 – 2032) By Industry
Table 32: Europe Market Value (US$ Bn) Analysis (2017 – 2021) by Country
Table 33: Europe Market Value (US$ Bn) Forecast (2022 – 2032) by Country
Table 34: South Asia & Pacific Market Value (US$ Bn) Analysis (2017 – 2021) By Solution
Table 35: South Asia & Pacific Market Value (US$ Bn) Forecast (2022 – 2032) By Solution
Table 36: South Asia & Pacific Market Value (US$ Bn) Analysis (2017 – 2021) By Enterprise Size
Table 37: South Asia & Pacific Market Value (US$ Bn) Forecast (2022 – 2032) By Enterprise Size
Table 38: South Asia & Pacific Market Value (US$ Bn) Analysis (2017 – 2021) By Industry
Table 39: South Asia & Pacific Market Value (US$ Bn) Forecast (2022 – 2032) By Industry
Table 40: South Asia & Pacific Market Value (US$ Bn) Analysis (2017 – 2021) by Country
Table 41: South Asia & Pacific Market Value (US$ Bn) Forecast (2022 – 2032) by Country
Table 42: East Asia Market Value (US$ Bn) Analysis (2017 – 2021) By Solution
Table 43: East Asia Market Value (US$ Bn) Forecast (2022 – 2032) By Solution
Table 44: East Asia Market Value (US$ Bn) Analysis (2017 – 2021) By Enterprise Size
Table 45: East Asia Market Value (US$ Bn) Forecast (2022 – 2032) By Enterprise Size
Table 46: East Asia Market Value (US$ Bn) Analysis (2017 – 2021) By Industry
Table 47: East Asia Market Value (US$ Bn) Forecast (2022 – 2032) By Industry
Table 48: East Asia Market Value (US$ Bn) Analysis (2017 – 2021) by Country
Table 49: East Asia Market Value (US$ Bn) Forecast (2022 – 2032) by Country
Table 50: Middle East and Africa Market Value (US$ Bn) Analysis (2017 – 2021) By Solution
Table 51: Middle East and Africa Market Value (US$ Bn) Forecast (2022 – 2032) By Solution
Table 52: Middle East and Africa Market Value (US$ Bn) Analysis (2017 – 2021) By Enterprise Size
Table 53: Middle East and Africa Market Value (US$ Bn) Forecast (2022 – 2032) By Enterprise Size
Table 54: Middle East and Africa Market Value (US$ Bn) Analysis (2017 – 2021) By Industry
Table 55: Middle East and Africa Market Value (US$ Bn) Forecast (2022 – 2032) By Industry
Table 56: Middle East and Africa Market Value (US$ Bn) Analysis (2017 – 2021) by Country
Table 57: Middle East and Africa Market Value (US$ Bn) Forecast (2022 – 2032) by Country
Figure 01: Global Market Size (US$ Bn) and Y-o-Y Growth Rate from 2022-2032
Figure 02: Global Market Size and Y-o-Y Growth Rate from 2022-2032
Figure 03: Global Market Value (US$ Bn), 2017-2021
Figure 04: Global Market Value (US$ Bn), 2022-2032
Figure 05: Global Market Value Share Analysis (2022 – 2032) By Solution
Figure 06: Global Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Solution
Figure 07: Global Market Attractiveness By Solution
Figure 08: Global Market Value Share Analysis (2022 – 2032) By Enterprise Size
Figure 09: Global Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Enterprise Size
Figure 10: Global Market Attractiveness By Enterprise Size
Figure 11: Global Market Value Share Analysis (2022 – 2032) By Industry
Figure 12: Global Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Industry
Figure 13: Global Market Attractiveness By Industry
Figure 14: Global Market Value Share Analysis (2022 – 2032) by Region
Figure 15: Global Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) by Region
Figure 16: Global Market Attractiveness by Region
Figure 17: North America MarketAbsolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 18: Latin America Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 19: Europe Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 20: East Asia Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 21: South Asia & Pacific Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 22: Middle East & Africa Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 23: North America Market Value (US$ Bn), 2017-2021
Figure 24: North America Market Value (US$ Bn), 2022-2032
Figure 25: North America Market Value Share Analysis (2022 – 2032) By Solution
Figure 26: North America Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Solution
Figure 27: North America Market Attractiveness By Solution
Figure 28: North America Market Value Share Analysis (2022 – 2032) By Enterprise Size
Figure 29: North America Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Enterprise Size
Figure 30: North America Market Attractiveness By Enterprise Size
Figure 31: North America Market Value Share Analysis (2022 – 2032) By Industry
Figure 32: North America Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Industry
Figure 33: North America Market Attractiveness By Industry
Figure 34: North America Market Value Share Analysis (2022 – 2032) by Country
Figure 35: North America Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) by Country
Figure 36: North America Market Attractiveness by Country
Figure 37:U.S. Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 38: Canada Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 39: Latin America Market Value (US$ Bn), 2017-2021
Figure 40: Latin America Market Value (US$ Bn), 2022-2032
Figure 41: Latin America Market Value Share Analysis (2022 – 2032) By Solution
Figure 42: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Solution
Figure 43: Latin America Market Attractiveness By Solution
Figure 44: Latin America Market Value Share Analysis (2022 – 2032) By Enterprise Size
Figure 45: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Enterprise Size
Figure 46: Latin America Market Attractiveness By Enterprise Size
Figure 47: Latin America Market Value Share Analysis (2022 – 2032) By Industry
Figure 48: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Industry
Figure 49: Latin America Market Attractiveness By Industry
Figure 50: Latin America Market Value Share Analysis (2022 – 2032) by Country
Figure 51: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) by Country
Figure 52: Latin America Market Attractiveness by Country
Figure 53: Brazil Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 54: Mexico Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 55: Rest of Latin America Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 56: Europe Market Value (US$ Bn), 2017-2021
Figure 57: Europe Market Value (US$ Bn), 2022-2032
Figure 58: Europe Market Value Share Analysis (2022 – 2032) By Solution
Figure 59: Europe Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Solution
Figure 60: Europe Market Attractiveness By Solution
Figure 61: Europe Market Value Share Analysis (2022 – 2032) By Enterprise Size
Figure 62: Europe Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Enterprise Size
Figure 63: Europe Market Attractiveness By Enterprise Size
Figure 64: Europe Market Value Share Analysis (2022 – 2032) By Industry
Figure 65: Europe Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Industry
Figure 66: Europe Market Attractiveness By Industry
Figure 67: Europe Market Value Share Analysis (2022 – 2032) by Country
Figure 68: Europe Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) by Country
Figure 69: Europe Market Attractiveness by Country
Figure 70: Germany Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 71: Italy Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 72: France Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 73: U.K. Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 74: Spain Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 75: BENELUX Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 76: Russia Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 77: Rest of Europe Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 78: South Asia & Pacific Market Value (US$ Bn), 2017-2021
Figure 79: South Asia & Pacific Market Value (US$ Bn), 2022-2032
Figure 80: South Asia & Pacific Market Value Share Analysis (2022 – 2032) By Solution
Figure 81: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Solution
Figure 82: South Asia & Pacific Market Attractiveness By Solution
Figure 83: South Asia & Pacific Market Value Share Analysis (2022 – 2032) By Enterprise Size
Figure 84: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Enterprise Size
Figure 85: South Asia & Pacific Market Attractiveness By Enterprise Size
Figure 86: South Asia & Pacific Market Value Share Analysis (2022 – 2032) By Industry
Figure 87: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Industry
Figure 88: South Asia & Pacific Market Attractiveness By Industry
Figure 89: South Asia & Pacific Market Value Share Analysis (2022 – 2032) by Country
Figure 90: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) by Country
Figure 91: South Asia & Pacific Market Attractiveness by Country
Figure 92: India Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 93: Indonesia Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 94: Malaysia Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 95: Singapore Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 96: Australia& New Zealand Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 97: Rest of South Asia & Pacific Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 98: East Asia Market Value (US$ Bn), 2017-2021
Figure 99: East Asia Market Value (US$ Bn), 2022-2032
Figure 100: East Asia Market Value Share Analysis (2022 – 2032) By Solution
Figure 101: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Solution
Figure 102: East Asia Market Attractiveness By Solution
Figure 103: East Asia Market Value Share Analysis (2022 – 2032) By Enterprise Size
Figure 104: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Enterprise Size
Figure 105: East Asia Market Attractiveness By Enterprise Size
Figure 106: East Asia Market Value Share Analysis (2022 – 2032) By Industry
Figure 107: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Industry
Figure 108: East Asia Market Attractiveness By Industry
Figure 109: East Asia Market Value Share Analysis (2022 – 2032) by Country
Figure 110: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) by Country
Figure 111: East Asia Market Attractiveness by Country
Figure 112: China Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 113: Japan Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 114: South Korea Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 115: Middle East and Africa Market Value (US$ Bn), 2017-2021
Figure 116: Middle East and Africa Market Value (US$ Bn), 2022-2032
Figure 117: Middle East and Africa Market Value Share Analysis (2022 – 2032) By Solution
Figure 118: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Solution
Figure 119: Middle East and Africa Market Attractiveness By Solution
Figure 120: Middle East and Africa Market Value Share Analysis (2022 – 2032) By Enterprise Size
Figure 121: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Enterprise Size
Figure 122: Middle East and Africa Market Attractiveness By Enterprise Size
Figure 123: Middle East and Africa Market Value Share Analysis (2022 – 2032) By Industry
Figure 124: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) By Industry
Figure 125: Middle East and Africa Market Attractiveness By Industry
Figure 126: Middle East and Africa Market Value Share Analysis (2022 – 2032) by Country
Figure 127: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 – 2032) by Country
Figure 128: Middle East and Africa Market Attractiveness by Country
Figure 129: GCC Countries Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 130: Turkey Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 131: South Africa Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Figure 132: Rest of Middle East and Africa Market Absolute $ Opportunity (US$ Bn), 2017 – 2032
Europe is projected to register strong growth in the market, exhibiting a CAGR of nearly 33.0% during the forecast period. However, North America was leading the global market with share of around 37.3% in 2021.
Key trends in the market includes: • Growing adoption of 5G networks to improve connectivity • Higher adoption of IoT device management platform in IT and telecom industry
IoT device management platform segment is expected to dominate the market over the forecast period, generating a maximum revenue, among all solutions, by the end of 2032.
The IoT device management platform market was valued at ~USD 3,681.0 Million in 2021, and is estimated to grow at a substantial pace with a CAGR of 24.4% to reach ~USD 39.765.3 Million in 2032.
Manufacturing segment is expected to dominate the market over the forecast period, generating a maximum revenue, among all industry, by the end of 2032.
The market in last 5 years (2017 to 2021) grew by a CAGR of 19.5%.
Growing adoption of 5G networks to improve connectivity is anticipated to drive the IoT device management platform market.
The IoT device management platform industry in East Asia is estimated to grow at around 10.8X over the forecast period.
The global market growth between 2021 and 2022 is around 20.6%.
Top 5 countries driving demand for IoT device management platform include USA, Germany, UK, India and Japan.
Europe is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. According to the study, France is expected to account for 21.5% of the Europe market through 2032.
The IoT device management platform market in Japan and South Korea was valued at ~USD 186.3 Million and ~USD 128.6 Million in 2021, respectively and is projected to register CAGR of around 27.8% and 25.7% respectively between 2022 and 2032.
Some of the leading companies in this landscape are Oracle Corporation, Microsoft, Google, Datadog, Pelion, Bosch.IO GmbH, among others. As per Future Market Insights, nearly 35% of the market share is currently covered by the top players.
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IoT Device Management Platform Market
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