Standardization of IoT device management is gaining traction

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Deployments of Internet of Things (IoT) solutions are growing day by day and making the management of connected devices more challenging due to issues related to security, complexity and scalability. To keep pace with this growth, IoT device management services are also evolving and are expected to make up a market that will reach $36.8 billion in revenue by 2026, according to technology intelligence firm ABI Research.

This category of management solutions helps you keep IoT devices online, connected, up-to-date, and secure by properly configuring them, routinely performing diagnostics, and maintaining them when necessary. They can also be monitored continuously and authenticated to ensure only the right people have access.

What is gaining momentum in this device management services market is standardisation. A good example of this trend is the growing adoption of the LwM2M (Lightweight M2M) protocol for machine-to-machine or IoT device management, initially adopted by telecom companies but now also supported by module, chipset and gateway vendors. With this standardization, the commoditisation of device management services is expected to strengthen. According to Abdullah Haider, research analyst for IoT network and services at ABI Research, standards help prevent customers from getting locked into proprietary platforms.

Partnerships and collaborations with device management solution providers are also intensifying, according to ABI Research. They can partner with systems integrators to offer a complete solution, and likewise with other members of the value chain. “Strategic partnerships can make sales and support channels more agile. Cooperation with another device management service provider can also be beneficial, for example for a cloud hyperscaler that sells advanced analytics systems or for a mobile network operator that sells applications or connectivity services such as IoT device management platforms that integrate with other systems,” Haider explains.

It is important to note, however, that even with commoditisation, companies are still keen to differentiate their device management services. Often, this involves providing security services such as attestation for devices and mutual authentication, while other players offer remote hardware configuration for asset tracking, telematics and condition-based monitoring. “Overall, it can be said that more and more vendors are offering device management services to differentiate their IoT solution set and thus generate more revenue,” Haider concludes.

Another study, this one from Global Market Insights, estimates that the healthcare IoT device management solutions industry is expected to register growth of up to 25% by 2028 due to the increasing digitalization of the segment. IoT device management solutions can offer a number of benefits to the healthcare industry, such as remote patient monitoring, automated alerts, healthcare assistance, and other resources that need to be managed efficiently.

The European IoT device management market is also expected to show exponential growth due to the increasing adoption of advanced technologies and the demand for 5G networks. Vendors in the region are focusing on developing advanced, integrated solutions. One example comes from Vodafone, which launched in August 2021 a unique management platform for water service operators, connecting IoT devices and sensors and bringing together advanced capabilities to monitor operations, detect leaks and reduce waste.

Global Market Insights’ research also highlights the importance of strategic partnerships to develop advanced and innovative IoT device management solutions, citing the case of Friendly Technologies, which has partnered with Kenton in the UK. With this cooperation, Friendly Technologies now manages Kenton’s CPE (Customer Premises Equipment) property using its flagship device management platform.

Other points of the IoT device management market highlighted by Global Market’s research are:

  • Advances in technologies such as IoT, cloud computing, data analytics and 5G are expected to drive the growth of this market.
  • The BYOD wave around the world also presents significant growth opportunities.
  • The key players in this market are Advantech, Aeris Communications, Amazon Web Services, Amplia Soluciones, AVSystem, Bosch.io GmbH, Cumulocity GmbH, Huawei Technologies, GE Digital and Google.
  • Companies operating in this market are establishing partnerships to develop integrated and innovative solutions.
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