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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