The global analytics of things or internet of things (IoT) analytics market size is projected to value at USD 57.3 billion by 2025, as per a new report published by Million Insights, registering a CAGR of 29.7% from 2017 to 2025. The rising demand for cost-effectiveness and advanced technologies are surging the demand for analytics of things. These solutions enable users to access real-time information. Deployment of useful data has turned out to be easier owing to high-tech sensor integration. The use of extracted data helps enterprises to make timely decisions.
Cost reductions of components and ease of deployment are also stimulating the use of analytics of things. IoT analytics can be used for several applications like infrastructure management, security management, and building automation. It further caters to the analysis of large volumes of data extracted by IoT. Moreover, it enables connecting, transforming, processing, aggregating, and managing real-time insights. The analytics of things solutions provide benefits like scalability, real-time reviewing, and cost optimization to businesses. These factors are expected to stimulate the internet of things analytics market over the projected period.
Market Share Insights
The major industry participants include Google; Amazon Web Services, Inc. (AWS); Greenwave Systems; Cisco Systems, Inc.; Hitachi, Ltd.; International Business Machines (IBM); and Hewlett Packard Enterprise Development LP.
Companies are emphasizing offering innovative and cost-effective solutions. These are extensively investing in R&D activities to deploy innovative solutions and have a competitive edge in the market. Leading market players have opted for strategies like mergers & acquisitions and expansions, apart from building partnerships and product development to gain momentum in the market.
Request free sample to get a complete analysis of the market players @ https://www.millioninsights.com/industry-reports/internet-of-things-iot-analytics-market/request-sample
Vertical Insights
The healthcare & life sciences segment is expected to witness the fastest growth from 2017 to 2025. Leading technology industry players are aggressively investing in resources for acquiring a greater share in the IoT healthcare market. IoT enables data storage, analysis, and recording. It further helps in reducing healthcare operational costs and errors. Moreover, rising competition is motivating businesses to cater to the analytics of things to gain a competitive edge in the market.
The manufacturing segment is expected to observe substantial growth in the upcoming years. Several enterprises in the heavy machinery & construction, industrial machinery, oil & gas, and transportation & logistics sectors are using analytics of things for optimum utilization of assets. Manufacturing companies largely prefer cloud-based solutions like predictive maintenance results. IoT analytics provide better manufacturing processes and link products, people, and machines to an integrated system. Manufacturers provide ease in monitoring data insights deployed by analytics of things.
Regional Insights
North America held the dominant position in the market in 2016 due to the presence of established players like Amazon Web Services, Inc. (AWS); Hewlett Packard Enterprise Development LP; Google; Cisco Systems, Inc.; Hitachi, Ltd.; and others. Advance adoption of innovative technologies in different sectors like transportation & logistics, manufacturing, and healthcare & life sciences is positively impacting the regional market.
The demand for analytics of things in the North American regions is expected to increase due to the penetration of mobile computing, social media, and IoT devices. Countries like China, Japan, and India are emerging as developing countries in the Asia Pacific. The adoption of social media & the internet in these countries is rising thereby, boosting the market in the near future.
Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
No comments:
Post a Comment