Analytics Of Things Market
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.
Market Valuation (2022)
US$ 300 billion
Market Valuation (2032)
US$ 1323.43 billion
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.
Critical factors promoting the growth of the Analytics of Things market are
- The adoption of enhanced and cost-effective technologies is increasing the adoption of the analytics of things market
- Implementation of advanced sensors for increased product efficiency
- Rise in big data analytics and the need to process insights from large chunks of data
- Unlike related technologies such as data monetization platforms, the deployment of analytics of things market is much easier and affordable
- Diverse application for facilitating automation, security applications and IT data infrastructure management.
- Need to manage large volumes of data generated through the application of technologies such as the Internet of Things
- Advantages offered by the technologies such as real-time review, optimization of costs and scalability.
Healthcare and Life Sciences Segment to Dominate the Global Market
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.
Small and Medium Enterprises to Dominate the Market Due to Market Competition
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.
Cloud Segment Projected to Dominate the Market, as the Preferred Deployment Mode
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.
North- America Dominates the Market Due to Early Adoption
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.
The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis include
- North America (U.S., Canada)
- Latin America (Brazil, Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Rest of Western Europe)
- Eastern Europe (Poland, Russia, Rest of Eastern Europe)
- Asia Pacific excluding Japan (China, India, ASEAN, Australia & New Zealand)
- The Middle East and Africa (GCC countries, S. Africa, Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
Analytics of Things Market: Market Segmentation
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.
Based on the deployment type the analytics of things market is segmented into:
Based on the service type the analytics of things market is segmented into:
- Deployment and Integration
- Support and Maintenance
- Consulting Services
- Managed Services
Based on the industry verticals type analytics of things market is segmented into:
- Telecommunications & IT
- Government & Defense
- Energy & Utilities
- Transportation & Logistics
Based on the type of application analytics of things market is segmented into:
- Energy Management
- Predictive Maintenance and assets management
- Inventory Management
- Security and Emergency Management
- Sales and Customer Management
- Building Automation
- Infrastructure Management
- Remote Monitoring
Analytics of Things Market: Key Players
Some of the few players identified in the analytics of things market are:-
- Accenture Plc
- Agt International
- Google, Inc.
- Cisco Systems, Inc.
- Intel Corporation
- Hitachi Data System
- International Business Machines Corporation
- Microsoft Corporation
- SAP SE
- Tibco Software, Inc.
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.
Frequently Asked Questions
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.