Asia Pacific Emerges as Strong Regional Market in Global IoT Device Management Market

IoT device management involves many different methods of communication, numerous operating systems, and protocols aimed at handling smooth operation of smart devices. The IoT services of device management have become very important for the business segment in the recent past because of the increasing utilization of remote operation in numerous industries and the consequent requirement for managing the device operation. The global market for IoT management fragmented and intensely competed with. The leading companies in the market such as Google, Microsoft, IBM Corporation, and HP among others are consistently working towards bolstering their market presence. Google has recently released the new developer preview for the internet of things (IoT) called Android Things. Android Things – Developer Preview 5 – is the initial version of the platform to make use of Google’s emerging operating system’s code base Android O. It consists of new features of Android O’s Application Programming Interface (API) along with new features specifically crafted for Android Things. 

The global market for IoT device management is expected to grow at a great pace during the forecast period of 2017-2025. It is estimated that this growth will be achieved at a strong CAGR of 31.5% over the course of the aforementioned forecast period. 

How Does Need for Data Management Affects Global IoT Market?

The significance of data analytics to the operation and functioning of a business has risen to a large extent in the last few years. With the rising spread of the internet, huge volumes of data are being generated on a regular basis, which creates the need for advanced tools for data management. With increasing popularity of smart technology these days, IoT devices have thus become prominent creators of digital information. The IoT management systems lets users to collate, collect, and analyze the generated data, which subsequently has triggered rapid development of the global IoT device management market in the last few years. 

However, the increasing risk of cybercrime has come up as a chief restraining factor for the growth of global IoT device management market. Many users do not entirely trust the IoT devices because of these possible security breaches. On the other hand, offering dynamic security solutions for IoT devices could thus become an influential market strategy for the companies in the international market in the coming years and thus, positively impact the market growth.

What Factors are expected to Propel IoT Device Management Market in Asia Pacific Region?

Geographically, North America has dominated the global IoT device management market mainly because of the widespread use of smart technology in important sectors such as healthcare and manufacturing and larger concentration of smart homes. On the other side, Asia Pacific has emerged as the fastest developing region in the global IoT device management market and is expected to be a dominant force in the near future. The region is estimated to show a sturdy CAGR of 33.4% during the aforementioned forecast period of 2017-2025. Emerging economies in Asia Pacific are projected to play an important part in making the region compete with other established regions as there is a rising demand from different industrial verticals such as healthcare, financial institutions, and transportation and logistics among others.  


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