The Internet of Things (IoT) Device monitoring Market is projected to reach USD 11.22 Billion by 2028, growing at a CAGR of 25.8% during the forecast period. The increasing concerns over network security are driving the market growth, which necessitates device interaction, both for traditional signature-based software as well as AI-based protection of devices, data, and systems. IoT device monitoring is the process of controlling and maintaining the performance, security, and functionality of connected devices through a centralized platform.

The market is expected to witness significant growth due to the rising demand for secure and efficient IoT device monitoring solutions. The need for real-time data analysis, remote device monitoring, and control is increasing, leading to the adoption of IoT device monitoring solutions in various industries such as retail, healthcare, transportation & logistics, utilities, manufacturing, and others.

The retail industry is expected to hold a significant share in the IoT device monitoring market due to the rising trend of digitalization and automation in the retail sector. IoT device monitoring solutions help retailers to manage inventory, improve supply chain management, and enhance the overall customer experience.

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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.

Competitive Landscape:

Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.

some leading companies operating in the global Keyword market:

Oracle Corporation, IBM Corporation, Microsoft Corporation, PTC Inc., Cumulocity GmBH, Xively, Particle, Einfochips, Wind River Systems, and Enhanced Telecommunications Inc., among others.

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The global market is further segmented into type and application:

Deployment Type Outlook (Revenue, USD Billion; 2020-2028)

  • Public cloud
  • Private cloud
  • Hybrid cloud

Industry Vertical Outlook (Revenue, USD Billion; 2020-2028)

  • Retail
  • Healthcare
  • Transportation & Logistics
  • Utilities
  • Manufacturing
  • Others

Organization Size Outlook (Revenue, USD Billion; 2020-2028)

  • SMEs
  • Large Enterprise

Component Type Outlook (Revenue, USD Billion; 2020-2028)

  • Solution
  • Services

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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