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Published on: Tuesday, Tue, 17 Jul 2018 ● 3 Min Read
Albany, New York, January 15, 2019/PRNewswire/ – The global IoT device management market is likely to demonstrate fragmented structure owing to existence of large and small players operating in this market, finds Transparency Market Research (TMR). The increasing number of players operating in this market couple with the advancement in technology is other trend stimulating growth of this market. The key vendors in the global market are heavily investing in research and development to strengthen their presence across the globe in order to maintain foothold in this market in the coming years.
TMR notes that the mergers and acquisitions are the key strategy adopted by the players in order to boost growth in the global market. Some of the major vendor's functioning in the global IoT device management market are Microsoft Corporation, Intel Corporation, management solutions. ARM Ltd., IBM Corporation, and Oracle Corporation. The key players operating in the IoT industry are undertaking several initiatives which includes formation of open mobile alliance for the regulation of the practice.
The global market for IoT device management market is likely to witness robust CAGR of 31.5% during the course of forecast period. The growing emphasis for managing connected device and rising operational efficiency is significantly boosting demand for the global IoT device management market in the years to come.
On the basis of component, the service segment is expected to witness high growth in terms of revenue generation over the forecast period. The service segment include manage and professional service. Geographically, North America is likely to dominate the global IoT device management owing to development in infrastructure. In addition, increasing adoption of advanced technologies and growing usage of cloud technologies mainly in U.S. is contributing towards growth of this market. However, other economies such as Asia Pacific is expected to offers a promising opportunities for IoT device management market due to adoption of smart technologies in various end user industry in the upcoming years.
The increasing internet-of-things (IoT) for several operation is influencing growth of the global IoT device management market in the coming years. In addition, growing importance of data analytics for proper functioning and operation is one of the major factor majorly attributing towards growth of this market. Moreover, large number of data are being produced on regular basis and this boosted the demand for advanced data management tool. The IoT management device helps the key vendors to analyse, collate and collect the huge data. Further, this helps to influence growth of the global IoT device management market in the near future.
In contrast, high cybercrime risk associated with the IoT device management market is likely to limit growth of this market in the foreseeable future. In addition, several key players don't trust or underutilize IoT device management tools owing to high security concern is likely to limit growth of this market. Moreover, the prominent vendors are also offering dynamic safety preference for the IoT device and this may likely to fuel growth of the global IoT device management market in the near future.
