IoT Device Management Market Value Chain and Pricing Trends: An In-Depth Financial Analysis

The global IoT device management market size was estimated at USD 4.20 billion in 2024 and is projected to reach USD 25.93 billion by 2030, growing at a CAGR of 36.5% from 2025 to 2030. The strong emphasis on digitalization and the subsequent proliferation of connected devices are expected to drive the market growth over the forecast period.

The implementation of IoT technology enhances the performance of connected devices by assisting in various tasks such as deployment, monitoring, managing, updating, and controlling. This has driven the adoption of IoT device management solutions across multiple industries, including transportation & logistics, healthcare, retail, utilities, and manufacturing.

The growing focus of enterprises on controlling linked devices and improving operational efficiencies across industry verticals is expected to boost the demand for IoT device management solutions. Major players are launching new products and services to remain competitive in the market. Initiatives aimed at standardizing data flow protocols, such as the formation of the Open Mobile Alliance (OMA), have enhanced interoperability among IoT devices from different manufacturers, contributing to the growth of the IoT device management market.

Key Market Trends & Insights

• Regional Insights: The IoT device management market in North America held a share of over 31.0% in 2024.

• Country Insights: The IoT device management market in the U.S. is expected to grow significantly at a CAGR of 34.9% from 2024 to 2030.

• Component Insights: The solution segment accounted for the largest revenue share of over 63.0% in 2024.

• Solution Insights: The remote monitoring segment accounted for the largest revenue share of over 22.0% in 2024.

• Service Insights: The professional segment accounted for the largest revenue share of over 63.0% in 2024.

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Market Size & Forecast

• 2024 Market Size: USD 4.20 Billion

• 2030 Projected Market Size: USD 25.93 Billion

• CAGR (2025 - 2030): 36.5%

• North America: Largest market in 2024

Key Companies & Market Share Insights

Key companies in the IoT device management market include Bosch Software Technologies, Smith Micro Software, Inc., International Business Machines Corp., Microsoft, and Oracle, among others. Organizations are focusing on increasing their customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, including mergers and acquisitions, and partnerships with other major companies.

• In February 2024, Oracle Corp. introduced the new Oracle Enterprise Communications Platform, which transforms industry communication by integrating IoT, messaging, and video. Built on Oracle Cloud Infrastructure, the platform enables real-time communication and data sharing across devices and systems, enhancing operational efficiency and decision-making. It is also designed to streamline processes, improve customer experiences, and drive digital transformation by enabling secure, scalable, and flexible communication.

• In March 2023, Aeris Communication, Inc. completed the acquisition of Ericsson's IoT Accelerator (IoT-A) and Connected Vehicle Cloud (CVC) businesses. The acquisition aimed to enhance the company’s IoT and connected vehicle capabilities, expand its service offerings, and strengthen its position in the IoT market with advanced connectivity solutions and technologies.

Key Players

• Advantech Co., Ltd.

• Aeris Communication, Inc.

• Bosch Global Software Technologies

• Cumulocity GmbH

• International Business Machines Corporation (IBM)

• Microsoft Corp.

• Oracle Corp.

• PTC Inc.

• Smith Micro Software, Inc.

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Conclusion

The IoT device management market is poised for significant growth driven by the increasing adoption of IoT technologies across various sectors. The combined effects of digitalization, interoperability initiatives, and strategic advancements by key players underscore the market's potential to transform industries and enhance operational efficiencies. As enterprises continue to embrace connected devices, the demand for effective IoT device management solutions will likely intensify, shaping the future landscape of the market.