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The global IoT device management market size is anticipated to reach USD 5.1 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 28.3% CAGR during the forecast period. Growing demand for IoT services, need for digitalization, and increasing penetration of communication and networking technologies are expected to drive the market over the coming years.
In the past few years, the industry has witnessed increasing investments in R&D activities for development of technologically advanced IoT systems. This has increased the popularity of IoT devices management products.