Internet of Things Analytics Market Report

Reading time ( words)

The Internet of Things (IoT) analytics market is rapidly gaining traction primarily due to the sudden outburst of data from IoT-enabled devices and increasing global penetration of connected devices. The IoT analytics tools have an unprecedented role in various industry verticals such as manufacturing, healthcare, energy and utilities, retail, and transportation and logistics. The basic reason for the growth is the increasing number of IoT-enabled smart connected devices and sensors which release a large amount of heterogeneous data simultaneously. This data can be harnessed and analyzed using IoT analytics tools and platforms to improve real-time decision making and customer experience. Furthermore, end-to-end automation in various industries such as manufacturing, healthcare, transportation and logistics, and deployment of predictive analytics in businesses are driving the overall growth of this market.

The IoT analytics market is still at a nascent stage, but it is gradually expected to grow towards maturity in the developed regions of North America and Europe. However, emerging regions such as APAC and MEA have great potential and are expected to achieve a bolstered growth in coming five years. The demand for cloud-based deployments is accelerating in this market due to its cost-effectiveness and benefits of hassle-free maintenance. Since the market is emerging, it is less competitive with fewer entry and exit barriers. However, the control lies with niche players who provide dedicated IoT analytics platforms, thereby increasing their bargaining capabilities among the small vendors and startups. Though there is notable traction of IoT analytics in large enterprises, the emergence of PaaS delivery models has increased its usage in SMBs too. There are still certain concerns restraining growth in this market, including the lack of highly efficient real-time analytics algorithms which leads to underutilization of analytics tools and data security issues.

Furthermore, the report provides an in-depth analysis of the IoT analytics market across the solutions and services types, deployment modes, application platforms, and industry verticals. The market is also segmented by region into North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America. Among all the regions, North America holds the largest market size whereas APAC is the major growing region.

The global IoT analytics market is expected to grow from $4,857.2 million in 2015 to $16,353.5 million by 2020, at a Compound Annual Growth Rate (CAGR) of 27.4%. The key players in this market include IBM, Intel, SAP, AGT International, Thingworx, Accenture, Capgemini, Mnubo, and Nokia Networks.

There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, economic, social, technological, and economic factors. The dollar fluctuations are expected to not seriously affect the forecasts in the emerging regions.



Suggested Items

Worldwide Semiconductor Equipment Billings at $13.3 Billion in 2Q19; Down 20%

09/12/2019 | SEMI
Worldwide semiconductor manufacturing equipment billings reached $13.3 billion in the second quarter of 2019, down 20% from the same quarter of 2018 and 3% from than the previous quarter.

Uncertainties in the Market Rise while a Bounce in NAND Flash Prices Remains Unlikely in 3Q

06/20/2019 | TrendForce
According to the latest investigations by DRAMeXchange, a division of TrendForce, demand for smartphones and servers go below expected levels in 2019 as the US-China trade dispute heats up.

Telecom (Compute and Storage) Infrastructure Market to Reach $16.35B in 2022

09/03/2018 | IDC
A new forecast from IDC sizes the market for compute and storage infrastructure for Telecoms at nearly $10.81 billion in 2017. However, as Telecoms aggressively build out their infrastructure, IDC projects this market to see a healthy five-year compound annual growth rate (CAGR) of 6.2% with purchases totaling $16.35 billion in 2022.

Copyright © 2020 I-Connect007. All rights reserved.