IoT (Internet of Things) Analytics Market forecasts a growing focus on driving results using sensor-based data and creating analytically rich data sets. What emerges is a glimpse into where IoT can deliver the most value, and that’s in solving complex logistics, manufacturing, services, and supply chain problems.
For instance – Lufthansa is using an IoT-based strategy to create an entirely new business mining data from their maintenance, repair and overhaul (MRO) operations and providing it to their customers. They are also using real-time aircraft, airport, and weather sensor data to improve on-time performance and optimize operations. Lufthansa aggregates all available data together to consistently deliver excellent customer experiences as a result. It’s these sensor-driven strategies that drive the most reliable IoT Analytics forecasts and predict the future of this industry.
The IOT Analytics Market is driven by the factors such as business intelligence and advanced analytics. The high market penetration of connected devices and sudden outburst of data from IoT- enabled devices among others. The internet of things analytics are widely used in various sectors including manufacturing, healthcare, energy and utilities, retails and others. Some predominant trends such as the increasing number of IoT- enabled sensor, which releases a large amount of heterogeneous data simultaneously. The IOT Analytics can easily manage and handle all kind of machine log data, streaming data, to analyses and filter the fast-moving data. This helps in improving the system processes and helps in decision-making in a more convenient ways.
The cloud deployment is considered as a major driving factors of internet of things analytics market as the companies are availing these solutions for their business, end-to-end automation, and consumer-friendly IoT analytics platform. With these platform, the organizations are enabled for ingest, parse and analyse complex machine data logs of usage, performance, configuration, and settings information. The machine learning libraries and open-source technology are boosting the market growth of internet of things analytics market growth. These helps in predicting the potential failures or machine malfunctions and detect anomalies in less time and with high accuracy
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International Business Machines Corporation (U.S.), Intel Corporation (U.S.), SAP SE (Germany), AGT International (Switzerland), Accenture PLC (Ireland), Capgemini (France), PTC (U.S.), Mnubo Inc. (Canada), Cisco Systems (U.S.), Nokia Networks (Finland), Pentaho (U.S) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global IOT Analytics Market.
Globally the market for IOT Analytics market is expected to grow at the rate of more than ~25% from 2016 to 2022.
Industry/ Innovation/ Related News:
March 21, 2017 – AT&T Inc. (US) and IBM Watson (U.S) has offered customers insights into their industrial IoT data via connected services. These solutions provides better prediction in maintaining and optimizing the machines. These analytics helps in detecting different kind of anomalies in very few seconds.
Apr 03, 2017 – Cisco and SAS has release Edge-to-Enterprise IoT Analytics Platform. This platform helps the organizations to apply analytics to the network based on their requirements. The Edge-to-Enterprise IoT Analytics is converting edge data collected via internet of things analytics.
Jan. 18, 2016 – Intel Corporation has revealed technological innovations which is driving internet of things analytics. It enables future retail systems with analytics and helps in understanding and connecting with customers. The company has invested in technology that uses data analytics and software to make smarter decisions.
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IOT Analytics Global Market is expected to be dominated by North America with the largest market share due to developed automotive industry and also due to presence of major IT industries in the region, and therefore accounting for a huge economy by 2022. IOT Analytics Market in Asia-Pacific market is expected to grow at a considerable rate of CAGR. And this growth is driven by high adoption of IoT-enabled devices, economic development in China, Japan, and India, growing infrastructure developments, and increasing foreign investment in the region. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of IOT Analytics solutions in the region.
Global IOT Analytics Market – Segmentation
The Global IOT Analytics Market is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Application Platform : Comprises Building Automation, Energy Management, Inventory Management, Infrastructure Management and Remote Monitoring among others.
Segmentation By Solutions : Comprises Gateway Analytics and Sensors among others.
Segmentation By Deployment : Comprises on Premises, On Cloud among others.
Segmentation By Vertical : Comprises Government, Healthcare, Financial Services, Retail, Manufacturing, Energy and utilities, Transportation and Logistics, among others.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.