IoT Analytics provides the tools and procedure to the user to realize huge volumes of value from the data developed by the connected Internet of Things (IoT) devices. The internet of things analytics helps in providing valuable data, which is utilized by enterprises to enhance real-time decisions.
The IoT Analytics Market is expected to reach USD 111.6 Billion during the forecast period at a 27.3% CAGR.
The aim of the report is to estimate the size of the market for IoT Analytics and the future growth potential of the market for IoT Analytics across various segments, such as Application, Analytics Type, Organization Size, and End-Use.
The base year considered for the analysis is 2019 and from 2020 to 2025 the market size is estimated. Increasing business's focus toward enhancing value chain management, reducing production costs, gaining competitive skills, and delivering higher customer satisfaction, and improving internal functioning, has substantially escalated the industry growth.
In Analytics Type, Predictive Analytics is anticipated to hold a substantial share. It transforms data into valuable insights, allowing enterprises to increase customer satisfaction, enhance process efficiencies, and optimize business processes. The analytics type utilizes real-time data along with historic data provide futuristic outcomes, which in turn, is driving the IoT Analytics market services demand.
In addition, North America is expected to hold a significant share, owing to shifting the workload to an IoT and cloud environment along with a surge in the adoption of efficient computing framework to enhance capabilities is augmenting the market demand. The high adoption rate of IoT devices for various operations across multiple industries is stimulating the industry size.
IoT Analytics Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 111.6 Billion|
|Growth Rate||CAGR of 27.3% during 2021-2028|
|Segment Covered||By Type, By Component, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Google, Inc., Microsoft Corporation, Amazon Web Services, Inc., SAP SE, IBM Corporation, Oracle Corporation, Cisco Systems, Inc., Dell Technologies, Inc., HP Enterprise Company, And PTC, Inc.|
Key Segments of the Global IoT Analytics Market
Application Overview, 2018-2028 (USD Million)
- Energy Management
- Predictive Maintenance & Asset Management
- Inventory Management
- Remote Monitoring
Analytics Type Overview, 2018-2028 (USD Million)
- Predictive Analytics
- Prescriptive Analytics
- Descriptive Analytics
Deployment Overview, 2018-2028 (USD Million)
- Large Enterprises
Organization Size Overview, 2018-2028 (USD Million)
End-Use Overview 2018-2028 (USD Million)
- Media & Entertainment
- Telecom & IT
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global IoT Analytics market
- Google, Inc.
- Microsoft Corporation
- Amazon Web Services, Inc.
- SAP SE
- IBM Corporation
- Oracle Corporation
- Cisco Systems, Inc.,
- Dell Technologies, Inc.
- HP Enterprise Company
- PTC, Inc.
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of IoT Analytics Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on IoT Analytics Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry End-Use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global IoT Analytics Market. The report will benefit: Every stakeholder involved in the IoT Analytics Market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about IoT Analytics Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global IoT Analytics Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.