Press Release

IoT Device Management Market is Expected to Undergo a Significant Growth Through 2025

Growing stress on increasing operational efficiencies and rising adoption of Internet of Things (IoT) to drive Canada IoT device management market

According to TechSci Research report, Canada IoT Device Management Market By Component (Solution v/s Service), By Deployment Mode (On-Premise v/s Cloud), By Organization Size (Large Enterprises v/s SMEs), By Application (Smart Retail, Connected Health, Connected Logistics, Smart Utilities, Smart Manufacturing, Others), By Region, Forecast & Opportunities, 2025, the market is anticipated to grow at a significant CAGR during the forecast period. Key factors propelling the growth of Canada IoT device management market include increasing adoption of Internet of Things (IoT) and growing stress on increasing operational efficiencies and managing connected devices. The burgeoning penetration of communication and networking technologies and growing need for real time analytics is further driving the growth of Canada IoT device management market. Additionally, increasing technological advancements and need for effective management of connected devices is also acting as primary growth driver for IoT device management market in Canada. Also, the benefits of IoT device management such as assistance in configuration and control, monitoring and diagnostics of connected devices and software updates and maintenance are leading to their increasing popularity in the country.

Moreover, major initiatives for cybersecurity and increasing incidences of cybercrimes and cyber threats are supporting the growth of Canada IoT device management market. Also, the extensive adoption of sensors is expected to create profitable opportunities for service providers through 2025. In addition to this, thriving network and communication infrastructure of Canada is making the country, a favorable market for IoT device management. Furthermore, increasing adoption of cloud technologies arise anticipated to augment the Canada IoT device management market in coming years.

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The Canada IoT device management market is segmented based on component, deployment mode, organization size, application and region. Based on component, the market can be bifurcated into solution and service. Here, the solution segment can further be categorized into real-time streaming analytics, security solution, data management, remote monitoring and network bandwidth management. The data management segment is expected to register significant growth in coming years owing to the increasing penetration of networking & communication technologies coupled with increasing incidences of data breaches and cybercrime.

Based on deployment mode, Canada IoT device management market can be split into on-premise and cloud. The cloud segment is expected to dominate the market through 2025 on account of its associated advantages such as scalability, flexibility, 24/7 availability, reduced operational costs, auto update feature, among others.

Major players operating in the Canada IoT device management market include Microsoft Canada Inc., PTC Incorporation, IBM Canada Limited, Oracle Corporation Canada Inc., Amazon Web Services, Inc., Vmware Canada Inc. and Wind River System, Inc. The market players are developing advanced technologies and launching new services to strengthen their position in Canada IoT device management market. Other growth strategies include mergers & acquisitions and new service developments.

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“Major companies operating in Canada are pushing investments in Canada’s IoT device management market, which is making the country one of the leading markets for the same. Moreover, government support for development of IoT solutions and booming IT industry is providing favorable opportunities for Canada IoT device management market growth. The increase in security concerns within enterprises is also creating high demand for IoT device management services in the country,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Canada IoT Device Management Market By Component (Solution v/s Service), By Deployment Mode (On-Premise v/s Cloud), By Organization Size (Large Enterprises v/s SMEs), By Application (Smart Retail, Connected Health, Connected Logistics, Smart Utilities, Smart Manufacturing, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of Canada IoT device management market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Canada IoT device management market.

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