In 2022, the global IoT network management market is expected to be worth $5.1 billion. The market for IoT network management is anticipated to reach $41.5 billion by 2032, increasing at a CAGR of 23.3% during the assessment period.
According to the IoT network management industry analysis by Future Market Insights (FMI), the demand registered in the IoT network management market will grow at a noteworthy CAGR of around 23.3% from 2022 to 2032. The report states that the market is expected to reach a valuation of US$ 5.1 Billion by the end of 2022 and US$ 41.5 Billion by 2032.
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.
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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.
But 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 in 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:
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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, a number of 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 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.
Key Players
IoT Network Management Outlook by Category
By Solution:
By Enterprise Size:
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By Industry:
By Region:
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.
review , outlook , forecast , demand , size , share , key trends , analysis , Research , overview
Jun 21, 2023
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