Industry Background:
Analytics of Things (AoT) is the next step for Organizations implementing IoT. It conducts analytics on the data generated by IoT. IoT alone does not make sense as without conducting analytics, mere data collection will be of little use. Increase in rapidly changing technology and social media, Internet, and mobile utility, owing to the tremendous demand for analytics by various organizations is driving the Global AoT market. Further, There is a growth in massive data is mainly due to rise in the number of channels such as mobile computing, IoT, and social media which is leading to increased adoption of IoT enabled devices.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Cisco Systems (United States), Microsoft Corporation ((United States), SAP SE (Germany), Intel Corporation (United States), IBM Corporation (United States), Capgemini (France), TIBCO Software (United States), AGT International (Germany) and Google, Inc. (United States) |
According to AMA, the market for Analytics of Things is expected to register a CAGR of 29.3% during the forecast period to 2028. This growth is primarily driven by Increasing Frequency of End-to-End Automation Process, Rising Number of Connected Device and Soaring Need for Advanced Technology.
Globally, a noticeable market trend is evident Ease of Deployment and Reduced Cost of Components
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Cisco Systems (United States), Microsoft Corporation ((United States), SAP SE (Germany), Intel Corporation (United States), IBM Corporation (United States), Capgemini (France), TIBCO Software (United States), AGT International (Germany) and Google, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The Global Analytics of Things market is fragmented with several regional and international players. The healthcare and life sciences segment are projected to grow in the forecast period as AoT provides real-time alerts to doctors and help them in data monitoring and gaining actionable insights. Moreover, Companies are making strategic collaborations to improve the efficiency of AoT for instance, in 2017, SAS and Cisco unveiled the Cisco SAS Edge-to-Enterprise IoT Analytics Platform. It brings together all the hardware and software needed to analyze IoT data so customers do not need to build an IoT platform from scratch
Key Developments in the Market:
In April 2023, Intel launched new Connectivity Analytics program that helps wireless solution providers generate unique networking and system insights – from network health and security to quality of service and customer experience – to deliver enhanced applications and services. This launch helped Intel to strengthened its presence in analytics of things market
May 2018, AGT International has created a world-class Artificial Intelligence (AI) and Internet of Things (IoT) platform that redesigns the way we understand people, things, and entire physical environments. The IoTA platform, which now runs on top of Amazon Web Services, establishes a new category of AI applications based on IoT: It can process and fuse data from a large variety of sensors in real-time.
Influencing Trend:
Ease of Deployment and Reduced Cost of Components and Facilitates Analysis of Large Amount of Data Generated by IoT
Market Growth Drivers:
Increasing Frequency of End-to-End Automation Process, Rising Number of Connected Device and Soaring Need for Advanced Technology
Challenges:
Concerns Regarding Data Security & Privacy
Restraints:
Lack of Skilled Professional and Real-time algorithms
Opportunities:
Increasing Demand for IoT and Demand for Instant Information and Big Organizations Investing in Advanced Technology and Skilled Human Resources
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Analytics of Things Market
- Analysis about New Entrants in Analytics of Things Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Analytics of Things Study Sheds Light on
The Analytics of Things Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Analytics of Things industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Analytics of Things industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.