About IoT Analytics Software
IoT analytics software is used to analyze and visualize sensor data from internet-connected devices by various organizations. They are used to understand the continuous stream of structured, unstructured, and time-series data produced by connected devices so that businesses can understand historical data and predict future outcomes. Companies and organizations may utilize IoT analytics solutions to track the performance of machinery, provide predictive maintenance recommendations, and better understand unique data related to their devices such as motion, sound, and temperature. The industrial sector has started adopting IoT analytics software to streamline their factories, which are increasingly automated by robots. These robots that are often networked together enable manufacturers to use the data to make better decisions. This has led to significant growth of the global IoT analytics software market in the forecast period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 28.45% |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global IoT Analytics Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amazon Web Services (United States), IBM Corporation (United States), Microsoft Corporation (United States), Google LLC (United States), AT&T (United States), HP (United States), Oracle Corporation (United States), SAP SE (Germany), Cisco Systems Inc. (United States) and Dell Technologies Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are PTC Inc. (United States), Hitachi Ltd. (Japan), Teradata Corporation (United States), Nokia Networks (Finland) and Software AG (Germany).
Segmentation Overview
AMA Research has segmented the market of Global IoT Analytics Software market by Type (Sensor Data Analytics, IoT Gateway Analytics and Network Management), Application (Energy Management, Predictive and Asset Management, Inventory Management, Security and Emergency Management, Sales and Customer Management, Building Automation, Infrastructure Management, Remote Monitoring and Others) and Region.
On the basis of geography, the market of IoT Analytics Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Mode, the sub-segment i.e. Cloud-Based will boost the IoT Analytics Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. Small & Medium Enterprises (SMEs) will boost the IoT Analytics Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Healthcare will boost the IoT Analytics Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Analytics Type, the sub-segment i.e. Predictive Analytics will boost the IoT Analytics Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Type, the sub-segment i.e. Monthly Subscription will boost the IoT Analytics Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Increasing Need for Real-Time Data Across Various Verticals including Connected Logistics, Autonomous Vehicles, and Others
Market Growth Drivers:
Increasing Deployment of Automation in Various Industry and Surging Emphasis on Time and Cost Management
Challenges:
The Increasing Issues Associated with Processing and Ownership of Data Across Various Industry Verticals
Restraints:
High Installation Cost of IoT Analytics Software and Increased Complexity due to Big Data Analytics
Opportunities:
Rising Trend of Automation in Industry 4.0 in both Developed and Developing Countries
Market Leaders and their expansionary development strategies
In February 2021, Software AG has entered into a collaboration agreement with Automation Anywhere, which will make scalable automation achievable for more businesses. Software AG’s ARIS platform will bookend Automation Anywhere RPA with process mining and process management. This will improve the discovery of automation opportunities and then the management of automated processes.
In November 2022 IBM has announced new software designed to help enterprises break down data and analytics silos so they can make data-driven decisions quickly and navigate unpredictable disruptions. IBM Business Analytics Enterprise is a suite of business intelligence planning, budgeting, reporting, forecasting, and dashboard capabilities that provides users with a robust view of data sources across their entire business.
Key Target Audience
IoT Analytics Software Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.