About IoT Analytics
IoT Analytics provides organizations to understand the Internet of things data which is generated by various connected IoT devices. This tools and procedure can help companies at their disposal, with a focus on reducing maintenance cost, improving business operations and avoiding equipment failures. Moreover, various sectors including restaurant chains, retailers, connected logistics, manufacturers of consumer goods and others can use data from wearable technologies, smartphones and in-home devices for their marketing and promotions. In addition to this, IoT is the futuristic world of connected consumer gear for the business side.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
CAGR | 30.4% |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global IoT Analytics 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.
IBM Corporation (United States), Microsoft Corporation (United States), HP (United States), Oracle Corporation (United States), SAP SE (Germany), Cisco SystemsInc. (United States), Dell TechnologiesInc. (United States), Google Inc.(United States), Amazon Web Services (United States), Hewlett Packard Enterprise Company (United States), PTC Inc. (United States), Hitachi Ltd. (Japan), Teradata Corporation (United States) and Nokia Networks (Finland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Salesforce.com Inc. (United States), Greenwave Systems Inc. (United States), Capgemini (France) and Mnubo Inc. (Canada).
Segmentation Overview
AMA Research has segmented the market of Global IoT Analytics market by , Application (Manufacturing, Retail and e-Commerce, Government and Defense, Healthcare and life sciences, Energy and utilities, Telecommunications and IT, Transportation and logistics and Other) and Region.
On the basis of geography, the market of IoT Analytics 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). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Component Type, the sub-segment i.e. Software (Sensor data analytics, IoT gateway analytics, Network management) will boost the IoT Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. On-Premises will boost the IoT Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solutions , the sub-segment i.e. Gateway Analytics will boost the IoT Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size, the sub-segment i.e. Small and Medium Enterprises (SMEs) will boost the IoT Analytics 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 and Growing Demands for Improved Service and Cost-Effectiveness
Market Growth Drivers:
Increasing Deployment of Automation in Businesses 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 and Increased Complexity due to Big Data Analytics
Opportunities:
Rising Trend of Automation in Industry 4.0 in both Developed and Developing Countries and Upsurging Demand for cloud-based Solutions
In March 2018, IBM launched a private IoT analytics cloud platform which encompasses the same features of the public cloud for the data centre. This is likely to foster the number of consumers for the company and bring a high influx of revenue.
Key Target Audience
IoT Analytics application builders, Service providers and distributors, Analytics consulting companies, Enterprises, End-users, Independent Software Vendors (ISVs), Government Regulatory Bodies 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.