Iot Device Management Market To Reach $29.5 Billion, Globally, By 2032 At 30.2% Cagr: Allied Market Research

The global IoT device management market is experiencing growth due to a rise in adoption of IoT devices and growth in need of data security and privacy. The market generated $2.2 billion in 2022, and is estimated to reach $29.5 billion by 2032, witnessing a CAGR of 30.2% from 2023 to 2032. Factors such as the rise in adoption of IoT devices, and growth in need of data security and privacy primarily drive the growth of the IoT device management market. However, inconsistency in the IoT standards for compatibility hamper market growth.