Global IoT Analytics Market was valued US$ 6.2 Bn in 2017, and is expected to reach US$ 45.8 Bn by 2026, at a CAGR of 28.4 % during forecast period.
Capacity of IoT data is continuously increasing because of introduction of smart glasses, smart watches, smart infrastructure, and smart cities. Analytics of things is helping in analyzing such data. Adoption of social media & rapid changing technologies, mobile utility, and internet are boosting the use of analytics of things. Also, falling costs of sensors and minimized processing power are among key trends activating market growth.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Increase in importance on cost and time management, rising need for real-time data, increasing penetration of automation in businesses, growing competitive challenges, and appearance of advanced technologies are providing a boost to the market. IoT analytics is helping enterprises in gaining real-time visions and increasing efficiency of their decision-making process for maximizing profit.
IoT analytics is projected to provide different benefits like advanced processing and real-time visions. Solutions are also expected to support users to get well and improved understanding & knowledge of a product, get detailed visions, cut down the time, and makes better marketing and operational decisions. Controlling the huge quantity of IoT data is limiting the growth of market. Also, issues related with processing and ownership of data is expected to hold back the expansion of IoT Analytics market.
Technologically advanced regions like Europe and North America will be significant contributors to the market growth, because of a higher adoption of analytics of things solutions across all verticals. Regions are an initial adopter of novel innovative technologies owing to presence of large technology players. Additionally, availability of better technology infrastructure and consistent network connectivity across the region is boosting the growth of regional markets.
Healthcare & life sciences vertical segment is expected to be the fastest-growing segment over the forecast period. Some of the prominent technology enterprises are progressively investing resources for getting into the IoT healthcare market. IoT analytics helps in data recording, storage, and analysis. It also helps in minimizing healthcare operational errors and costs. Also, increasing competition is boosting enterprises to adopt IoT analytics to gain a competitive advantage.
Due to data security concerns and rising internet usage, on-premise segment led the market in 2016. On the other hand, cloud segment is poised to make inroads in the shares of on-premise deployment. Technological innovations are moving from on-premise to cloud deployment.
Cloud segment is expected to hold the highest CAGR during the forecast period as this type of deployment supports more customized options. Cloud-based solutions are expected to be dominating during forecast period, due to increment in IoT devices.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding IoT Analytics market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in IoT Analytics market.
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Scope of Global IoT Analytics Market:
Global IoT Analytics Market by Deployment:
Global IoT Analytics Market by Organization Size:
• Small & Medium Enterprises (SMEs)
• Large Enterprises
Global IoT Analytics Market by Vertical:
• Energy & Utilities
• Retail & E-commerce
• Healthcare & Life Sciences
• Transportation & Logistics
Global IoT Analytics Market by Geogra
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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