After years of exaggeration, anticipation, and steady acceptance, the Internet of Things (IoT) looks set to move into mainstream commercial use. According to Fortune Business Insights, the global IoT market size is projected to reach $1463.19 billion by 2027, dividing it into two major segments: platforms and solutions. The platform segment is also subdivided, only into three areas: device management, cloud platform, and network management.The device management segment held a market share of around 35.5% in 2020. And it is likely to experience considerable growth in the coming years, thanks to the growing need of users to manage multiple devices due to the increasing number of connected devices present in IoT platforms.
