The global internet of things analytics market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of IOT Analytics will grow moderately over the forecast period. The market is forecasted to witness slow but steady growth by 2022, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2022).
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 analyse 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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Major Key Players
- International Business Machines Corporation (U.S.),
- Intel Corporation (U.S.),
- SAP SE (Germany),
- Accenture PLC (Ireland),
- Capgemini (France),
- PTC (U.S.),
- Mnubo Inc. (Canada),
- Cisco Systems (U.S.),
- Nokia Networks (Finland),
- Pentaho (U.S),
- AGT International (Switzerland),
some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global IOT Analytics Market.
According to MRFR, The Globally IOT Analytics market is expected to grow at the rate of more than ~25% from 2016 to 2022.
EcoEnergy Insights, an IoT expert, developed a customized program for the American West Restaurant Group (AWRG) chain in California and Utah. The software had successfully reduced the energy consumption of the restaurant by 15% a month.
Verimatrix’s Verspective Intelligence is a program designed exclusively for video service providers who get a chance to know customer viewing experience and engagement and improve their video service delivery which can help them with increased revenue.
The market is getting primarily driven by a lot of researches, and new induction of technologies such as Artificial Intelligence (AI) is fast becoming a trend. Recently, Gradient Ventures collected USD 5 million using Canvass Analytics which they have planned to invest in AI-based IoT developments. New entrants such as FogHorn Systems and IoTium are creating ripples which can take the market ahead during the forecast period.
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.
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Region-based segmentation of the market envelops namely North America, Europe, Asia Pacific, and the Middle East & Africa.
North America has the market under its control as it generates the maximum and is expected to do so in the near future. The market can give credit to well-structured industries for such overwhelming control. The region also adopts latest technologies very quickly which has given the market advantage in foraying in further in this region. Presence of some key market players within the territory is also proving beneficial for the market.
The APAC market is expecting the fastest growth rate during the forecast period. The region has registered a spurring sale in IoT enabled devices which leaves room for little speculation regarding the growth that it can have in the same time. As emerging economies, China and India are proving their worth by assisting the market in expanding.
- System integrators
- Entertainment industry
- Education industry
- Research and consulting firms
- Small and large enterprises
- Government agencies
Table of Contents
- Report prologue
2.2 Scope of the study
2.2.1 Research objective
2.3 Market structure
- Research Methodology
3.1 Research process
3.2 Primary research
3.3 Secondary research
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List of Figures
Figure 1 Research Process
Figure 2 Drivers Of Global Iot Analytics Market
Figure 3 Global Iot Analytics Market: By Application Platform (%)
Figure 4 Global Iot Analytics Market: By Solution (%)
Figure 5 Global Iot Analytics Market: By Deployment (%)