SAN FRANCISCO, December 4, 2018
SAN FRANCISCO, December 4, 2018 /PRNewswire/ --
Global IoT Analytics Market is estimated to grow at a substantial CAGR of 33.39 % during the period 2018-2022 as the scope, product types, and its applications are increasing across the globe. IoT analytics, as the name suggests, offers analytical solutions to the several business objects from the data that has been collected. The factors that propel the growth of the IoT Analytics Market include growing competitive rivalry, increasing emphasis on cost and time management, rising penetration of automation in businesses, soaring need for real-time data, and emergence of innovative technologies. On the other hand, there are factors that may hamper the growth of the market including slow connectivity for IoT devices. IoT Analytics Market may be explored by component, deployment model, application, organization size, analytic type, and geography. IoT Analytics Market may be explored by component as software and services. The "IoT software component" segment led the IoT Analytics Market in 2017 and is anticipated to maintain its dominance by 2022. The factors that could be attributed to the growth include rising necessities for specific and security audience data from several industries such as manufacturing, retail, telecommunication and healthcare. IoT Analytics Market could be explored by deployment model as Cloud and On-premises. Based on organization size, the IoT Analytics Market could span Large enterprises and Small and Medium Enterprises (SMEs).
Based on analytic type, the IoT Analytics Market could span Prescriptive analytics, Predictive analytics and Descriptive analytics. The key applications that could be explored in the IoT Analytics Market include Security and emergency management, Predictive maintenance and asset management, Energy management, Inventory management, IT infrastructure management, Remote monitoring, Building automation, Sales and customer management and Others may further include cost optimization and process and product management. Based on industry vertical, the IoT Analytics Market may be classified as Energy and utilities, Retail and eCommerce, Manufacturing, Government and defense, Healthcare and life sciences, Transportation and logistics, Telecommunications and IT and Others (travel and hospitality, outsourcing services, and education). The "Manufacturing" segment led the IoT Analytics Market in 2017 and is anticipated to maintain its dominance by 2022. IoT Analytics Market is categorized based on geography into North America, Latin America, Japan, Middle East and Africa, Western Europe, Asia Pacific, and Eastern Europe. The North American segment led the IoT Analytics Market in 2017 and is anticipated to maintain its dominance by 2022. The factors that could be attributed to the growth include initial acceptance of new and emerging technologies and a huge number of IoT Analytics vendors in the region. North America is followed by Asia-Pacific owing to rising technology expenses in countries such as India and China and demand for profitable analytical software and services among SMEs. The key players contributing to the robust growth of the IoT Analytics Market comprise Cisco Systems, Inc.; GreenWave Systems; Google; Hitachi, Ltd.; and International Business Machines (IBM) and Hewlett Packard Enterprise Development LP. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Internet of Things (IoT) presents an opportunity to collect a considerable amount of data through various data collection devices from every physical operation of the business. IoT analytics provides analysis to the various business entities from the data that has been collected.
The report covers the present scenario and the growth prospects of the global IoT analytics market for 2018-2022. To calculate the market size, the report considers the IoT analytical software and services revenue generated by major players in the IoT analytics market.
Global IoT Analytics Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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