IoT Device Management Statistics


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IoT Device Management Statistics 2023: Facts about IoT Device Management outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on IoT Device Management, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will IoT Device Management Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top IoT Device Management Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 22 Iot Device Management Statistics on this page 🙂

Iot Device Management “Latest” Statistics

  • The service monitoring page displays the percentage of time that devices have been available during the last 24 hours, 7 days, and 30 days.[1]
  • According to a recent analysis released by FMI, the IoT device management market share is anticipated to reach USD39.6 billion by 2032, with an estimated CAGR of 18.6% throughout the forecast period.[2]
  • The market for managing IoT devices in Europe is anticipated to see exponential growth due to the increased use of sophisticated technologies and the rising need for 5G networks.[3]
  • The fast digital transformation occurring across several end-user sectors is expected to cause the IoT device management market from the public cloud segment to grow at around 25% annual gains through 2028.[3]
  • A CAGR of over 25% is anticipated for the public cloud through 2028 as a result of the fast digital transformation occurring across a variety of ends.[3]
  • A 25% increase in the smart health market is anticipated through 2028 as a result of the healthcare industry’s increasing digitization.[3]
  • According to a collaborative investigation by BitSight and Advisen, 10 or more susceptible open ports were present in 60% of the compromised firms.[4]
  • Including mobile devices, IoT devices account for approximately 30% of all network-connected endpoints, making many businesses the main targets of hackers.[4]
  • The IoT device management market is anticipated to be dominated by North America from 2017 to 2022, according to estimates.[5]
  • Out of the estimated 29 billion connected devices, 18 billion are expected to be associated with the internet of things, according to Ericsson’s mobility study.[6]
  • In comparison to other industries, the consumer and retail sectors are attacked more often, according to Wipro’s state of cybersecurity report 2019.[6]
  • 96% of merchants are prepared to make the necessary changes to deploy the internet of things in their storehouses, according to eInfochips, an arrow firm.[6]
  • According to the report, at least one internet of things device is owned by 66% of homes in North America.[6]
  • According to a 2018 survey by the american consumer institute, there were over 8 and 10 susceptible home and workplace routers in the United States, respectively.[6]
  • According to BBVA group, IoT and smart devices are already improving the performance indicators of large us based companies by addressing regular management difficulties and increasing their productivity by 40%-60%.[6]
  • Over the forecast period of 2021–2026, the IoT device management market is anticipated to post a cagr of 28.7%.[6]
  • The survey also states that at least 73% of firms anticipate losing money in the event of an attack since services won’t be available at crucial moments.[6]
  • According to eInfochips, using various energy sources effectively may result in annual cost reductions of up to 20%.[6]
  • According to Verizon’s survey, 77% of merchants have a strong belief that IoT solutions may greatly enhance the consumer experience.[6]
  • By 2023, there will be 29.3 billion networked devices or 36 gadgets for every person on earth, predicts the cisco annual internet report 2018–2023.[7]
  • For these reasons, according to a 2020 research analysis by Valuates Reports, demand for IoT device management will increase between 2021 and 2026 at a compound annual growth rate of 22.6%.[7]
  • Despite making up 30% of all endpoints, as much as 98% of IoT device traffic in the U.S. was permitted to travel across unencrypted channels in 2020.[7]

Also Read

How Useful is Iot Device Management

IoT device management refers to the process of monitoring, configuring, securing, and updating IoT devices to ensure optimal performance and security. Given the sheer volume and variety of IoT devices in use today, managing them efficiently is no simple task. Yet, the benefits of effective device management are clear.

One of the primary advantages of IoT device management is improved efficiency. By centralizing the management of IoT devices, organizations can streamline the process of monitoring and controlling their devices, reducing the likelihood of downtime and maximizing productivity. This is especially crucial in fields where downtime can have serious consequences, such as healthcare, manufacturing, and transportation.

Additionally, IoT device management plays a crucial role in ensuring security. As IoT devices become increasingly interconnected, they present a growing attack surface for cybercriminals. Without proper management, IoT devices can become vulnerable to cyberattacks, putting sensitive data and critical infrastructure at risk. Effective device management helps organizations identify and address security vulnerabilities, reducing the likelihood of breaches and minimizing the impact of potential security incidents.

Furthermore, IoT device management can help organizations optimize their resources and reduce maintenance costs. By proactively monitoring the performance of IoT devices and identifying potential issues before they escalate, organizations can avoid costly repairs and downtime. Additionally, automated management tools can help organizations allocate resources more efficiently, ensuring that devices are utilized to their full potential.

Moreover, IoT device management is essential for ensuring regulatory compliance. With the introduction of stricter data protection regulations, such as the GDPR and the California Consumer Privacy Act, organizations are under increasing pressure to demonstrate compliance with data protection requirements. Proper device management can help organizations track and manage the data collected by IoT devices, ensuring that they comply with relevant regulations and avoid potential fines or sanctions.

Ultimately, effective IoT device management is crucial for unlocking the full potential of IoT technology. By ensuring that IoT devices are properly monitored, configured, and secured, organizations can maximize the benefits of IoT technology while mitigating potential risks. Whether it’s improving efficiency, enhancing security, optimizing resources, or ensuring regulatory compliance, the value of IoT device management cannot be overstated.

As the adoption of IoT devices continues to grow, it is essential for organizations to invest in robust device management solutions to reap the full benefits of IoT technology. By prioritizing effective device management, organizations can harness the power of IoT technology to drive innovation, improve operational efficiency, and enhance security. Failure to do so could result in missed opportunities, increased risks, and unnecessary costs. In an increasingly connected world, effective device management is not just useful – it is essential.

Reference

  1. cumulocity – https://cumulocity.com/guides/users-guide/device-management/
  2. globaltrademag – https://www.globaltrademag.com/iot-device-management-to-record-us-39-6-bn-by-2032-north-america-to-be-the-lucrative-region/
  3. globenewswire – https://www.globenewswire.com/en/news-release/2022/03/30/2412625/0/en/IoT-Device-Management-Market-to-hit-US-11-billion-by-2028-Says-Global-Market-Insights-Inc.html
  4. keyfactor – https://www.keyfactor.com/blog/top-10-iot-vulnerabilities-in-your-devices/
  5. marketsandmarkets – https://www.marketsandmarkets.com/Market-Reports/iot-device-management-market-210200083.html
  6. mordorintelligence – https://www.mordorintelligence.com/industry-reports/iot-device-management-market
  7. spiceworks – https://www.spiceworks.com/tech/iot/articles/what-is-iot-device-management/
  8. g2 – https://www.g2.com/categories/iot-device-management

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