Austin, Feb. 26, 2025 (GLOBE NEWSWIRE) -- IoT Device Management Market Size & Growth Insights:
According to the SNS Insider,“The IoT Device Management Market Size was valued at USD 3.54 Billion in 2023 and is expected to reach USD 40.15 Billion by 2032 and grow at a CAGR of 30.97% over the forecast period 2024-2032.”
The rapid development of IoT networks in industries including healthcare, manufacturing, smart cities and automotive has been a major contributing factor behind this growth, fueling demand for efficient device monitoring, security and maintenance solutions. Streamlining integration capabilities, improving security protocols, and real-time analytics to boost device performance and operational efficiency are taking precedence among market players. In 2023, key vendors focused on advanced feature sets including AI-driven automation and cloud-based management platforms to meet performance benchmarks and maintain constant connectivity across various IoT ecosystems. Using statistics for numbers of connected devices has increased, with a consumer driven demand for scalable and flexible IoT device management.
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Leading Market Players with their Product Listed in this Report are:
- Google (Nest, Brillo)
- Amazon Web Services (AWS) (AWS IoT Core, AWS IoT Device Management)
- Microsoft (Azure IoT Hub, Azure IoT Central)
- IBM (IBM Watson IoT Platform, IBM Maximo)
- Cisco Systems (Cisco IoT Control Center, Cisco Kinetic)
- PTC (ThingWorx, Vuforia)
- Oracle (Oracle IoT Cloud, Oracle Autonomous Database)
- SAP (SAP Leonardo IoT, SAP Cloud Platform)
- Siemens (MindSphere, Siemens Industrial Edge)
- GE Digital (Predix, Proficy)
- Intel (Intel IoT Platform, Intel Edge Insights)
- Qualcomm (Qualcomm IoT Services Suite, Qualcomm Snapdragon)
- Arm Holdings (Arm Pelion IoT Platform, Arm Cortex-M)
- Bosch (Bosch IoT Suite, Bosch IoT Edge)
- Samsung Electronics (Samsung ARTIK, Samsung SmartThings)
- Huawei (Huawei OceanConnect IoT, Huawei Cloud)
- Verizon (Verizon ThingSpace, Verizon Smart Communities)
- AT&T (AT&T IoT Solutions, AT&T Control Center)
- Vodafone (Vodafone IoT, Vodafone Business IoT)
- Telit (Telit IoT Platform, Telit DeviceWISE).
IoT Device Management Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 3.54 Billion |
| Market Size by 2032 | USD 40.15 Billion |
| CAGR | CAGR of 30.97% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Component (Solution, Services) • By Solution (Data Management, Real-Time Streaming Analytics, Remote Monitoring, Security Solutions, Network Bandwidth Management) • By Service (Professional Services, Managed Services) • By Deployment (Public Cloud, Private Cloud, Hybrid Cloud) • By Organization Size (Large Enterprises, Small & Medium Enterprises (SMEs)) • By End-Use Industry (Retail, Transportation & Logistics, Manufacturing, Healthcare, Utilities, Other End-Use Industries) |
| Key Drivers | • The proliferation of IoT devices across industries necessitates strong device management solutions. • Government initiatives and regulations are promoting secure IoT deployments. |
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Key Industry Segmentation Analysis
By Component, Solution Dominating and Services Fastest Growing
The solution segment dominates the market, accounting for the largest share due to the widespread adoption of IoT platforms offering automated device provisioning, firmware updates, and security management. Enterprises are increasingly investing in comprehensive IoT management solutions to enhance operational efficiency and ensure seamless device performance across industries.
The services segment is the fastest-growing over the forecast period 2024-2032 , due to the increasing demand for consulting, deployment and managed services to support complex IoT ecosystems. From providing integration consultancy to enhancing cybersecurity and ensuring regulatory compliance, service providers are experiencing unprecedented growth in enabling businesses adopt, monitor, and manage the lifecycle of IoT deployment. The increasing demand for connected products and services is predicted to lead to significant market growth over the forecast period due to the availability of various advanced IoT solutions and specialized services.
By Solution, Remote Monitoring Dominates While Security Solutions Experience Fastest Growth in IoT Device Management Market
Remote monitoring dominates the market, driven by the growing demand for real-time monitoring of IoT devices in several industries, such as healthcare, smart cities, and industrial automation. Remote monitoring access is being used by businesses to monitor devices under a single entity for optimal performance, predictive maintenance, and reduced operational downtime. Remote monitoring is becoming the de facto standard for enterprises managing large-scale IoT deployments, as it provides the ability to track device health & diagnose problems remotely, optimize asset utilization, etc.
Security solutions are the fastest-growing segment over the forecast period 2024-2032, propelled by rising concerns over cyber threats, unauthorized access, and data breaches in IoT networks. With the proliferation of connected devices, organizations are prioritizing advanced security frameworks, including encryption, identity management, and anomaly detection, to safeguard critical data and infrastructure. As IoT ecosystems expand, the demand for both remote monitoring and robust security solutions will continue to accelerate, shaping the future of the IoT device management landscape.
By Services, Professional Services Dominate While Managed Services Experience Fastest Growth in IoT Device Management Market
Professional services dominate the market, as enterprises increasingly rely on consulting, system integration, and support services to deploy and optimize IoT ecosystems. With IoT adoption spanning industries such as healthcare, manufacturing, and smart cities, businesses seek expert guidance for seamless integration, security compliance, and performance optimization.
Managed services are the fastest-growing segment over the forecast period 2024-2032, as demand for outsourced IoT management solutions with real-time monitoring, predictive maintenance, and automated troubleshooting continues to surge. Furthermore, with organizations seeking to simplify operational intricacies and improve operational excellence, there is an increasing demand for managed IoT services which allow organizations to concentrate on their core activities while leaving IoT infrastructure management to the experts.
By Organization Size, Large Enterprises Lead While SMEs Experience Fastest Growth in IoT Device Management Market
In 2023, large enterprises held the dominant market share at 68%, driven by their large-scale adoption of IoT solutions to enhance operational efficiency, asset monitoring, and customer experience. With substantial financial and technical resources, these organizations have successfully implemented advanced IoT device management solutions, ensuring seamless connectivity and robust security. Industries such as manufacturing, transportation, and retail have been key adopters, leveraging IoT-driven innovations to optimize business operations.
Small and medium-sized enterprises (SMEs) are the fastest-growing segment, projected to expand at a CAGR of 31.64% from 2024 to 2032. The growing affordability of IoT-based solutions in the cloud facilitates the scalability of operations for SMEs without large investments in infrastructural development, allowing for rapid adoption. Government schemes that promote digital transformation also accelerate IoT implementation in the SME segment, establishing them as key contributors to market growth.
By End-Use Industry, Manufacturing Leads While Healthcare Experiences Fastest Growth in IoT Device Management Market
In 2023, the manufacturing Segment dominated the IoT device management market with a 37.42% share, driven by its reliance on IoT technology for operational efficiency, real-time asset tracking, and predictive maintenance. IoT solutions enhance visibility across production lines, optimize supply chains, and minimize downtime, making them indispensable in modern industrial operations.
The healthcare Segment is the fastest growing, projected to expand at a CAGR of 32.51% from 2024 to 2032. The rapid adoption of IoT for remote patient monitoring, diagnostics, and hospital asset management is fueling this surge. Additionally, stringent data privacy regulations and the need for seamless integration across healthcare networks are accelerating demand for secure and efficient IoT device management platforms, positioning healthcare as a key driver of future market growth.
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North America Leads While Asia Pacific Emerges as the Fastest-Growing Region in IoT Device Management Market
In 2023, North America dominated the IoT device management market, holding a 33% share, driven by its advanced technological infrastructure, high IoT adoption across industries like healthcare and manufacturing, and strong government initiatives supporting secure deployments. The presence of major market players further strengthens the region’s leadership.
Asia Pacific is the fastest-growing region, projected to expand at a CAGR of 31.42% from 2024 to 2032. Countries such as China, India, and Japan are engaged in rapid IoT adoption driven by industrial digitization and smart city projects. Government-supported initiatives and investments in IoT ecosystems are propelling growth, reinforcing Asia Pacific as an important region for the future of IoT device management solutions.
Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Key Vendors and Feature Analysis, 2023
5.2 Performance Benchmarks, 2023
5.3 Integration Capabilities
5.4 Usage Statistics, 2023
6. Competitive Landscape
7. IoT Device Management Market Segmentation, by Component
8. IoT Device Management Market Segmentation, by Service
9. IoT Device Management Market Segmentation, by Deployment
9. IoT Device Management Market Segmentation, by Organization Size
9. IoT Device Management Market Segmentation, by End-Use Industry
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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