IoT Device Management Industry - Regional Synopsis
North America Market Forecast
The North America IoT device management market is expected to account for a leading revenue share of 38.4% by the end of 2037. The regional market is reinforced by the proliferation of Industry 4.0 principles across sectors such as logistics and manufacturing. Within the region, major players have been increasingly reliant on IoT devices to bolster supply chain management. The reliance, along with a well-established technological infrastructure in the region, has ushered a greater deployment of IoT devices, which in turn converges with the rising demand for IoT device management solutions.
The U.S. IoT device management market is projected to hold a dominant revenue share in North America due to the extensive adoption of digital transformation across several industries. Additionally, the recent trends of policy changes in the U.S. administration have highlighted a greater focus on nearshoring trends, which is poised to drive the deployment of IoT devices. Additionally, a lion’s share of opportunities is set to emerge from the healthcare sector for IoT vendors.
APAC Market Forecast
The APAC IoT device management market is projected to register the fastest expansion, rising at a CAGR of 38.1% during the forecast period. A major factor supporting the sector’s growth is the large-scale urbanization trends across the region. Leading markets in APAC include China, India, South Korea, Japan, and others. These economies have led the charge in greater IoT deployment in smart cities. Another supportive factor of the sector’s expansion in APAC is the large-scale rollout of 5G, which creates a favorable ecosystem for IoT deployment.
The Japan IoT device management market is poised to expand its revenue share by the end of 2037. Japan is at the forefront of embracing nationwide digitalization initiatives, which has created a favorable environment for increasing deployment of IoT. The Society 5.0 initiative of Japan is a premier initiative that has shaped policies driving the deployment of IoT across multiple sectors in Japan. Additionally, the rising investments in smart cities converging with the growing urbanization, IoT vendors are set to find lucrative opportunities for the deployment of IoT device management solutions in the Japan market.
