The demand recorded in the IoT network management market will increase at a notable CAGR of roughly 23.3% from 2022 to 2032, predicts the Future Market Insights (FMI) report of the IoT network management market. According to the analysis, the market is anticipated to be worth US$ 5.1 billion by the end of 2022 and US$ 41.5 billion by the year 2032.
Global IoT networks are quickly growing, enabling organizations and industries to operate and/or monitor a wide variety of smart devices. Speed and responsiveness are essential for accurate and dependable IoT device performance with any network technology.
The existence of heterogeneous and resource-constrained devices interacting across radio channels that are prone to errors and regularly deployed in hostile locations, on the other hand, causes IoT networks to experience a range of network performance difficulties.
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In a variety of businesses, the Internet of Things (IoT) tangibly resolves key business concerns. Among the first industries to adopt this technology were healthcare, smart cities, building management, utilities, transportation, and manufacturing, attesting to its many benefits.
However, the volume and complexity of threats and assaults against IoT devices and networks are increasing. Attacks against IoT devices, associated software, and network connections are becoming more frequent. These include attacks using IoT botnets, DNS threats, IoT ransomware, IoT physical security, and shadow IoT.
Combining IoT solutions with edge processing technology supports minimizing the vulnerabilities as edge security helps in protecting users and sensitive data. So there is an increased need to secure the devices and network and use them to strengthen network security. As a result, enterprises are deploying IoT network management solutions to protect devices against new security threats.
Key Takeaways:
- By solution, demand in the network management platform segment is expected to grow at a CAGR of 24.4% through 2032.
- Based on enterprise size, SME segment is predicted to grow by 8.9X during the forecast period.
- In terms of industry, the healthcare segment is predicted to grow at a CAGR of 29.9% between 2022 & 2032.
- By region, North America accounted for the largest market share of around 32.3% in the IoT network management market in 2021, whereas South Asia & Pacific region is showing the highest growth of around 28.4% CAGR during the forecast period.
Competitive Landscape
IoT network management providers are focusing on strategies such as product innovation to improve their offerings and enhance their product portfolios to meet growing demand. Furthermore, several enterprises are partnering with technology experts to build their own IoT network management solutions. For instance:
In March 2021, BehrTech collaborated with WEPTECH, a pioneer in the development and manufacture of cutting-edge wireless communication technologies launched cost effective MYTHINGS-certified gateway for Mioty which is a next-gen LPWAN protocol.
In March 2022, a strategic partnership was established between Sierra Wireless and T-Mobile to strengthen the IoT connectivity solutions of Sierra Wireless by combining the IoT network management tools with LPWA, 5G coverage, AND 4G LTE from T-Mobile’s powerful mobile network.
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Key Players
- Cisco
- kindly
- Behrtech
- IBM
- Sierra Wireless
- RAKwireless
IoT Network Management Outlook by Category
By Solution:
- IoT Network Management Platform
- Services
By Enterprise Size:
- Large Enterprises
- Small and Mid-Sized Enterprises (SMEs)
By Industry:
- Manufacturing
- IT & Telecom
- BFSI
- Healthcare
- Transport & Logistics
- Energy & Utilities
- Retail
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Table of Content
1. Executive Summary | IoT Network Management Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, By Solution
4.2. Global Average Pricing Analysis Benchmark
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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