The IoT network management market is poised for substantial growth, with projections indicating that it will surge to an impressive US$ 41.5 billion by 2032, driven by a remarkable compound annual growth rate (CAGR) of 23.3%. This robust expansion can be attributed to the ever-increasing adoption of Internet of Things (IoT) devices across various industries, necessitating efficient and effective network management solutions.
As the IoT ecosystem continues to expand, businesses and organizations are recognizing the importance of seamless connectivity and data management, thereby fueling the demand for IoT network management solutions. The industry’s remarkable growth trajectory highlights its pivotal role in ensuring the reliability, security, and scalability of IoT networks, making it a crucial element in the ongoing digital transformation.
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IoT networks are rapidly expanding across the globe, allowing businesses and industries to control and/or monitor a broad range of smart gadgets. With any network technology, speed and responsiveness are crucial for accurate and dependable IoT device performance.
IoT networks, on the other hand, have a variety of network performance issues due to the presence of heterogeneous and resource-constrained devices communicating through error-prone radio channels and frequently deployed in hostile environments.
The Internet of Things (IoT) tangibly solves significant business problems in a variety of industries. Healthcare, smart cities, building management, utilities, transportation, and manufacturing are among the early users of this technology, attesting to its numerous advantages.
However, the amount of threats and cyberattacks directed at IoT devices and networks is on the rise in both number and complexity. Attacks like IoT botnets, DNS threats, IoT ransomware, IoT physical security, and shadow IoT are on the rise in IoT devices, connected software, and network connections.
Combining IoT solutions with edge processing technology supports minimizing the vulnerabilities as edge security helps protect 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.
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Key Takeaways From The IoT Network Management Market:
- 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, the 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 the South Asia & Pacific region is showing the highest growth of around 28.4% CAGR during the forecast period.
More Valuable Insights on the IoT Network Management Market
Future Market Insight’s report on IoT network management market industry research is segmented into four major sections – solution (network management platform (on-premise, and cloud-based), and services (professional services, and managed services)), enterprise size (large enterprises, and SMEs), industry (manufacturing, IT & telecom, BFSI, healthcare, transport & logistics, energy & utilities, retail, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and The Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the IoT network management demand outlook.
Leading Key Players:
- Cisco
- kyndryl
- Behrtech
- IBM
- Sierra Wireless
- RAKwireless
- Commscope
- Proscend
- Particle Industries, Inc
- Aeris
- Datadog
- Senet
- Juniper Networks
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IoT Network Management Segmentation:
By Solution:
- Platform
- On-Premise
- Cloud-Based
- Services
- Professional Service
- Managed 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)
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