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The North America IoT Device Management Market would witness market growth of 31.3% CAGR during the forecast period (2022-2028).
Manual device management becomes extremely hard, susceptible to human mistakes, and often impossible as the number of devices grows fast. Imagine having to examine hundreds of gadgets making sure that it is functioning properly – not a simple task. This necessitates IoT management (IoTM) solutions that ease and automate Internet of Things management. A device management platform can link to a device, retrieve information about its status, and, in some situations, change its status. These solutions are frequently delivered as a platform or software as a service.
Overall dispersed IoT devices are typically handled by a public-facing cloud solution, whereas industrial devices are more likely to link to local platforms, which have more stringent security needs. IoT management platforms can do everything from enabling services and devices to exchange messages to completing complicated operations like software updates or modifying machine learning models on specific devices.
The monitoring of the linked devices is just the start. The management solution must evolve and expand in tandem with the network of things. The variety and diversity of IoT devices are growing at an exponential rate. This necessitates the development of modern systems that could not only list but also manage and leverage a fleet of devices. In the IoT life cycle, management solutions become increasingly more integrated. It enables developers to deliver new features at the touch of a button and powerfully automated operations. New obstacles arise as the number of features and complexity increases. The importance of security, performance and long-term maintainability would grow.
The increased adoption of new technologies, rising cyber-attacks, and an expanding amount of connected devices in the region are all driving the IoT Device Management market in the region. Many factories in this region are already equipped with contemporary machines and technology, making the transition to smart manufacturing much easier for businesses than remaining with traditional methods. As per BBVA Group, IoT and smart devices are already increasing the performance indicators of big US-based enterprises, covering regular management difficulties and increasing productivity by 40-60%.
The US market dominated the North America IoT Device Management Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,808.5 million by 2028. The Canada market is estimated to grow at a CAGR of 34.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 33.1% during (2022 - 2028).
Based on Component, the market is segmented into Solution (Device Management, Real-Time Streaming Analytics, Remote Monitoring, Security Solutions, and Network Bandwidth Management) and Services (Professional and Managed). Based on Vertical, the market is segmented into Manufacturing, Transportation & Logistics, Healthcare, Retail, Utilities, and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Oracle Corporation, Bosch.IO GmbH (Robert Bosch GmbH), Telit corporate group (DBAY Advisors Limited), Smith Micro Software, Inc., Aeris Communications, Inc., Silicon Laboratories, Inc., Advantech Co., Ltd., and PTC, Inc.
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