FMI uncovers massive growth of IoT network management market
According to the IoT network management industry analysis by Future Market Insights (FMI), the demand registered in the IoT network management market will grow at a noteworthy CAGR of around 23.3% from 2022-2032.
The report states that the market is expected to reach a valuation of US$ 5.1 billion by the end of 2022.
According to the researchers, IoT networks are rapidly expanding across the globe, allowing businesses, and industries to control and/or monitor a broad range of smart gadgets. With any network technology, speed and responsiveness are crucial for accurate and dependable IoT device performance.
IoT networks, on the other hand, have a variety of network performance issues due to the presence of heterogeneous and resource-constrained devices communicating through error-prone radio channels and frequently deployed in hostile environments.
The Internet of Things (IoT) tangibly solves significant business problems in a variety of industries. Healthcare, smart cities, building management, utilities, transportation, and manufacturing are among the early users of this technology, attesting to its numerous advantages.
However, the number of threats and cyber attacks directed at IoT devices and networks is on the rise in both number and complexity. Attacks like IoT botnets, DNS threats, IoT ransomware, IoT physical security, and shadow IoT are on the rise in IoT devices, connected software, and network connections.
Combining IoT solutions with edge processing technology supports minimising the vulnerabilities as edge security helps in protecting users and sensitive data. Therefore, there is an increased need to secure the devices and network, and use them to strengthen network security. As a result, enterprises are deploying IoT network management solutions to protect devices against new security threats, the researchers state.
“Different functionalities of IoT network management help to maintain network performance. Increasing adoption of IoT network management platforms across large enterprises will augment the growth in the market over the forecast period,” says an FMI analyst.
Key takeaways include the following:
- By solution, demand in the network…
