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Global market overview (GMI) claims that the IoT device management market exceeded US$1 billion in 2021 and forecasts it to grow at over 25% CAGR between 2022 and 2028, attributing this growth to the proliferation of connected devices.

The company claims that COVID-19 has increased the adoption of connected devices across various end-user industries through their ease-of-use feature. Connected devices help improve customer experience and provide enhanced services. The increased use of computing devices will likely drive the demand for IoT device management.

China

GMI noted that in China, smart manufacturing applications will see gains of nearly 30% by 2028, fueled by digital transformation efforts across manufacturing. These include the adoption of advanced technologies such as augmented reality and remote control, among others.

The Ericsson IndustryLab Report 2021 predicts that manufacturing companies will become 80% automated over the next 10 years. Among the tools expected to be used more are AI software, video recognition, augmented and virtual reality, co-bots, video recognition, digital twins, automated guided vehicles (AGVs) and exoskeletons.

Use of ICT-based production tools, including pilots
Source: Ericsson IndustryLab 2021 report

As many as seven in 10 manufacturing companies say they plan to deploy five or more production tools enabled by advanced wireless networks, such as 5G, within five years.

The Ericsson report highlighted that most manufacturing companies emerged largely unscathed from the worst effects of the global Covid-19 pandemic, with 69% reporting unchanged or even improved financial performance since the start. closures.

Device management

According to GMI, industry participants are forming strategic partnerships to develop advanced and integrated IoT device management platforms. In February 2022, Device Authority and Avnet to end-to-end IoT security management. Avnet integrated Device Authority KeyScaler Platform in its cloud computing IoT device management platform to help customers manage their IoT devices.

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