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HomeDigit NewsIoT device management services revenue to reach $36.8 billion by 2026

IoT device management services revenue to reach $36.8 billion by 2026

Device management services are evolving due to the expansion of device technologies, such as edge analytics and connectivity technologies, as well as customer concerns related to the scalability and security of IoT deployments. But forward-thinking vendors are also bracing for 41.3% of connected devices using some form of technology by 2026. LPWA technologies, and revenue from IoT device management services will exceed $36.8 billion. This forecast is given by specialists of the analytical company ABI Research.

Standardization is starting to play an increasing role in device management services as more and more connected devices use LPWA technologies. The standardization is best exemplified by the growth in the adoption of LwM2M. This standard has been adopted by telcos but is now also used by module, chipset and gateway vendors. On the other hand, standardization will increase the commercialization of device management services.

Analysts say partnerships and collaboration between device management vendors will continue to expand. Device management vendors can partner with system integrators (SIs) who create end-to-end solutions and with others in the value chain.


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