IoT Data Management Market Overview:
The development of IT sectors and companies has propelled the demand for IoT data management as these sectors consist of a huge amount of data and information stored. The IoT data management services are widely used preferred by top companies. The others sectors, such as telecommunication, retail, healthcare, BFSI, etc., are accelerating the IoT Data Management Market. The growing demand for data management is increasing day to day as a huge number of data is produced every day, acting as a key driving factor of the market. The rise in the adoption of smart devices like smart vehicles, smart equipment, smart buildings, security system, etc., are connected to the global network based on IoT.
These growth factors highly propelled the demand for IoT data management services. Metadata management is another factor driving the global IoT Data Management Market. The market is all set to receive huge opportunities due to the increase in connected devices. The IoT Data Management Market is expected to reach a CAGR of 18.45% with USD 131.27 Billion by 2032 during the forecast period.
During the pandemic, the market faced financial loss when the development of new technologies declined due to less investment. The investors almost stopped the investment in smart devices due to low market value; this has shown a negative impact on the end-users of the market. But the market is recovering at a rapid speed after the lockdown due to high internet usage. Therefore, the market will recover its loss as the demand increases for effective data management solutions.
Key Companies in the IoT Data Management market include,
- Aruba Networks
- Cisco Systems Inc.
- Ericsson
- Actian
- Cisco Systems Inc
- Google Inc
- IBM Corporation
- Hewlett Packard Enterprise
- Dell Technologies
- Fujitsu Limited
- Oracle Corporation
- SAP SE
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Market Segmentation
The IoT Data Management Market is fragmented based on solutions, services, deployment, etc. The solution segment of the market is consists of data integration, data analytics, metadata management, data security, data migration, and others. These are solutions regarding various activities of data. The market involves managed services, consulting services, and support and maintenance services in the services segment. These services are essential for data management. The deployment segment has a public, private, and hybrid cloud.
The other IoT Data Management Market segments are organization size and application. The organization size is comprised of large enterprises and small and medium enterprises. The market's application segment is considered the vast segment as it is divided into various types, smart manufacturing, smart energy and utilities, building and home automation, smart healthcare, smart transportation, smart retail, connected logistics, and others.
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Regional Analysis
According to the geographical report, the IoT Data Management Market covers various regions globally, such as North America, the European region, Asia Pacific, and other regions. Among the above geographical regions, North America is the largest share-holding region due to the higher requirement of IoT data management services. The presence of key market players in the major region US is driving the regional market of the region.
The Asia Pacific is noticed as the fastest-growing region, and it is expected to continue its growth consistency in the future years. All the regions to drive the globe IoT Data Management Market to reach its estimated CAGR.
Industry News
Claroty, the security company for cyber-physical systems across industrial, healthcare, and enterprise environments, has announced its acquisition with Medigate, a leading healthcare IoT security company. The acquisition positions Claroty to secure the Extended Internet of Things (IoT) by delivering unmatched visibility, protection, and threat detection for all connected organizations via one comprehensive solution.
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