NEWARK, Del, June 24, 2022 (GLOBE NEWSWIRE) -- 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 2022-2032.The report states that the market is expected to reach a valuation of US$ 5.1 Bn by the end of 2022.
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.
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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.
“Different functionalities of IoT network management help to maintain network performance. Increasing adoption of IoT network management platforms across large enterprises will augment the growth in the market over the forecast period,” says an FMI analyst.
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, SMEs segment is predicted to be 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 IoT network management market in 2021, whereas South Asia & Pacific region is showing highest growth of around 28.4% CAGR during the forecast period.
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More Valuable Insights on 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.
Segments:
By Solution:
- IoT Network Management 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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Table of Content
1. Executive Summary
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. IoT Network Management Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, By Solution
4.2. Global Average Pricing Analysis Benchmark
5. Classification of IoT Network Management Solutions
5.1. Network Management Protocols
5.2. Cloud-Based Frameworks
5.3. SDN Based Frameworks
5.4. Semantic Based Frameworks
5.5. Machine Learning Based Frameworks
6. COVID-19 Impact Analysis
6.1. Impact of COVID-19 on IoT Network Management Growth
6.2. Pre-COVID-19 Market Growth
6.3. Expected Recovery Scenario (Short Term/Mid Term/Long Term)
6.4. Key Action Points for IoT Network Management Vendors
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