The current valuation of the Analytics of Things market in 2022 is US$ 300 billion and it is projected to grow at a modest CAGR of 16% during the forecast period to reach a market value of US$ 1323.43 billion by 2032.
| Attributes | Details |
|---|---|
| Market Valuation (2022) | US$ 300 billion |
| Market Valuation (2032) | US$ 1323.43 billion |
| CAGR | 16% |
Analytics of Things is the analysis of the data which is generated through internet of things devices. Moreover, analytics of things is vital to make the connected devices smart and to provide the devices the capability to make intelligent decisions. Also, analytics of things recommends that analytics are essential to derive connected devices smart and for them to make an intelligent exploit.
There are various groups of analytics of things, including analysis for variation and the understanding patterns, optimization by analysis of a procedure, predictive asset maintenance, and detection of anomalies, situational awareness and prescription. Analytics of things provide solutions to enterprises in confirming the devices connected to internet work more are smarter and efficiently.
The small and medium enterprises segment is expected to hold the largest market share during the forecast period. There is a global boom in the SME sector. This has propelled intense market competition and the need to adopt the latest technologies to stay relevant.
This has triggered a rise in demand for advanced technologies such as Analytics of Things, the Internet of Things, and big data analytics amongst SMEs for efficient data management.
The North American market propelled, by advantages such as its robust IT infrastructure and early adoption of the technology, is expected to dominate the market during the forecast period. The region is also projected to hold a major global revenue share due to the presence of key industry players such as Amazon Web Services, Google, Greenwave Systems, International Business Machines (IBM), etc.
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Some of the few players identified in the analytics of things market are:-
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
During the forecast period, the healthcare & life sciences segment is expected to dominate the end-user segment. The segment is projected to account for 12.5% of the global market revenue by 2025.
This is primarily due to the application of analytics of things for critical utilities in the healthcare industry. These include providing real-time alerts to healthcare professionals and facilitating accurate data monitoring to derive key insights.
By deployment mode, the cloud segment is expected to record a CAGR of around 30% during the forecast period. This is primarily driven by factors such as hassle-free maintenance, 24/7 access, and affordability.
The analytics of things market is segmented into five parts based on the deployment type, service type, by industry verticals type, application type, and geography.
The market is likely to register a CAGR of 16% through 2032.
The market is currently valued at US$ 300 Bn in 2022.
The market is likely to grow to a valuation of US$ 1323.43 Bn by 2032.
North America is likely to be a leading market during the forecast period.
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Analytics Of Things Market
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