The Europe IoT Device Management Market would witness market growth of 31.4% CAGR during the forecast period (2022-2028).
The expansion of IoT device management services and solutions has been aided by the increasing amount of linked devices in the IoT ecosystem, as well as new applications and business models resulting from IoT. As per Stanford University and Avast research, 66 percent of homes in North America have at minimum one IoT device, implying that the average total household would have nine gadgets by 2022, with over half (48 percent) of total devices and connections being video capable. The market is witnessing the increased usage of IoT devices.
The implementation of IoT device management is driven by the spread of networking and communication technologies, as well as the demand for connected assets, real-time analytics, and machine security. It helps with configuration & control, provisioning & authentication, software upgrades & maintenance, and linked device monitoring & diagnostics. The growing use of the Internet of Things (IoT) for a variety of purposes has fueled tremendous demand in this sector. Real-time analytics, data management solutions, and security solutions, are being developed in response to rapid technological change and the requirement for the efficient administration of connected devices.
The factors responsible for increasing use of new technologies and the need for 5G networks, the European IoT device management market is expected to rise at an exponential rate. The region's IoT device management firms are concentrating on building innovative and unified IoT device management solutions for their clients. For example, Vodafone introduced a special and powerful IoT device management platform for water businesses in August 2021. It integrates a variety of sensors and devices into a single platform. It has a number of modern characteristics, including improved monitoring and detecting systems, reduced waste, improved operational efficiency, and so on.
The Germany market dominated the Europe IoT Device Management Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $501 million by 2028. The UK market is poised to grow at a CAGR of 30.4% during (2022 - 2028). Additionally, The France market would display a CAGR of 32.4% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global IoT Device Management Market will Hit $7.3 Billion by 2028, at a CAGR of 32%
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.
By Component
By Vertical
By Organization Size
By Country
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