?IoT device management?has several advantages, including quick device registration, simple IoT device classification, quick device locating, and remote device administration.
The IoT device management market share is expected to reach US$ 7.2 Billion in 2022 and US$ 39.6 billion by 2032, With an estimated CAGR of 18.6% during the projected period. The study finds that the rising demand for reflects the?adoption of IoT device management.
The Internet of Things entails the transport, storage, management, and analysis of data created by edge devices. By providing analytics tools, cloud platforms assist in this endeavour. A cloud platform is a low-cost, easy-to-deploy system that does away with the need for on-premises data centres.
IoT device management?creates data that is stored in the cloud and on cloud platforms. This enables organisations to make sense of?IoT device management?and, as a result, develop procedures around them. In addition, the rise of?IoT device management?has boosted the adoption of?IoT device management?across a variety of industrial verticals.
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Cloud platforms enable enterprises to link traditional information systems to?IoT device management?in innovative ways. The cloud solutions of various organisations in the IoT node and gateway industry are being tailored to match the needs of their clients.
NXP Semiconductors N.V., for example, announced the EdgeLock 2GO?IoT device management?platform in February 2021, which is designed for zero-touch, secure deployment, and security management of?IoT device management?across their full lifespan. Companies have understood the value of cloud computing in offering?IoT device management?to their clients, fueling the?IoT device management industry?even more.
Data centres have become more important as a result of the massive amount of fresh data that is being produced and will need to be stored. For example, when users create new accounts, all of their personal and financial information, as well as usage statistics, must all be saved and encrypted.
The use of data centres will expand as a result of this. With such a significant increase in data consumption and traffic, connectivity between devices and data centres will need to be greatly upgraded, with each one requiring a data connection to operate and interact with other devices. As a result,?IoT device management adoption?is expected to rise in the future years.
Sales of IoT device management?are expected to rise significantly. In addition to this,?sales of IoT device management?are rising on account of US$ 19.92 Bn by 2026. Increasing?sales of IoT device management?are?also projected to contribute to the growth of the?IoT device management market share.
Manufacturers in the?IoT device management market?get a big platform from which to serve the whole?demand for IoT device management. The worldwide?sales of IoT device management?are seeing increased competition. With growing competition, new competitors are offering a variety of options at reasonable pricing, fulfilling the?demand for IoT device management?more accessible to customers.
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Key Takeaways:
Competitive Landscape
Intel Corporation (U.S.); Qualcomm Technologies (U.S.); Texas Instruments Incorporated (US); STMicroelectronics (Switzerland); IBM (U.S.), and others are major participants in the?IoT device management industry.
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Key Segments
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Apr 24, 2023