The Internet of Things (IoT) device management market is gaining traction, due to the increasing proliferation of connected devices and rising deployment of IoT in diverse application areas. However, the lack of universally excepted standard and data security concerns are some of the major challenges for the growth of the global IoT device management market. MarketsandMarkets forecasts the global IoT device management market size to grow from USD 693.4 Million in 2017 to USD 2,559.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 29.8% during the forecast period (2017–2022).
There are several established players in this market, such as Microsoft Corporation (US), IBM Corporation (US), Oracle Corporation (US), PTC Inc. (US), ARM Ltd. (UK), Aeris (US), Smith Micro Software (US), Tibbo Systems (Taiwan), DevicePilot (UK), Xively (US), Zentri (US), Cumulocity GmBH (Germany), Proximetry (US), Einfochips (US), Wind River Systems Inc. (US), and Capricode (Finland). These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to achieve growth in the global IoT device management market.
Microsoft Corporation is a key player in the global IoT device management market. The company offers a wide range of IoT device management solutions and services. The company actively follows organic growth strategies, such as new product developments to strengthen its product portfolio. For instance, in April 2017, Microsoft launched Microsoft IoT Central, a new IoT as a service platform, to assist with the deployment of IoT projects in enterprises. Additionally, in November 2016, Microsoft made enhancements to the Azure IoT Gateway Software Development Kit (SDK) and Azure IoT Hub Device Management by introducing the Azure IoT Hub Internet Protocol (IP) filter. This IP filter enables customers to configure IP filtering rules for their IoT Hub. Furthermore, in March 2016, Microsoft announced 2 new offerings to streamline IoT device management. These offerings, namely, Azure IoT Hub Device Management and the Azure IoT Gateway SDK make it significantly easier for customers to manage their IoT deployments.
PTC Inc., is a major vendor in the IoT device management market. The company has formed acquisitions and invested in new products to expand and strengthen its IoT device management solutions/services portfolio. In March 2017, PTC Inc. launched a new IoT application, Kinex, built on PTC’s IoT platform. This new application enabled PTC’s clients to access the latest product information and make better product decisions. Additionally, in February 2017, PTC expanded its IoT ecosystem with New ThingWorx Partners. As a part of the PTC partner network, the ThingWorx Ready Program provides partnering companies, a way to validate product integration with the ThingWorx platform, enabling solution builders to shorten their time-to-market by leveraging pre-integrated products, extensions, and starter kits listed in the ThingWorx marketplace. Furthermore, in November 2017, PTC announced the introduction of a new version of its Windchill Product Lifecycle Management (PLM) product that would leverage the connectivity and information opportunities that are part of IoT. The company has also invested in inorganic strategies to strengthen its position in the market. PTC Inc., acquired Kepware Inc., a software development company, to enhance its IoT platform. Kepware provides communications connectivity for industrial automation environments.
IoT Device Management Market by Solution (Real-Time Streaming Analysis, Security Solutions, Data Management, Remote Monitoring, Network Bandwidth Management), Service, Application Area, Deployment Model, and Organization Size - Global Forecast to 2022
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