The global market for Internet of things (IoT) device management market is gaining significant traction, thanks to the rising uptake of connected devices across the world. The emergence of sensors and the increasing requirement for a synchronized IoT device management platform are some of the other factors that are driving the growth of the worldwide IoT device management market substantially.
Solutions and services are the two main components of the global IoT device management market. The demand for IoT device management solutions is much higher than the services and the trend is likely to continue over the next few years. Data management, security solutions, remote monitoring, real time streaming analytics, and network bandwidth management have surfaced as the key types of IoT device management solutions, globally.
IoT device management solutions and services find extensive application into smart manufacturing, connected health, and smart retail. Smart manufacturing has emerged as the dominant consumer. As identification technologies are significantly used in various manufacturing processes, the scenario is anticipated to remain so over the next few years. North America led the this market in the past and is expected to continue on the top position in the years to come, thanks to the rising concentration of smart buildings and the increasing uptake of smart production processes in North America.
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