IoT data
analytics is the analysis of large data volumes produced by connected devices,
and organizations can obtain several benefits such as optimize operations,
engage more customers, automatically control processes and empower employees.
IoT analytics is a perfect option to run on IoT data to obtain insights to allow
more precise decision making for IoT applications and machine learning. Expeditiously
rising sales of smart products such as smart watches, smart televisions, smart
speakers and others is projected to produce large amounts of data, which is
further anticipated to increase the requirement for IoT analytics in future. Rising
number of electronics manufacturing companies are adopting smart sensors in
products they provide in order to gather data to several activities carried out
by consumers, which is further analyzed using IoT analytics to derive valuable
insights. The huge amount of data collected are used to enhance work efficiency
due to the growing focus on time and cost management, rapid growth of
automation technologies, requirement for real-time data access and rising number
of advanced technologies. Furthermore, the rapid traction of the Internet of
Things and advent of new and more advanced technologies has been resulting in rising
deployment of data analytics in the agriculture sector to improve operational
efficiency and productivity in farming field. IoT analytics is also utilized in
soil monitoring applications and to augment moisture sensor data to improve
water efficiency of automated irrigation equipment and systems. On the other
hand, the dearth of real-time algorithms is a factor which is likely to hinder
the market growth.
Additionally, with the evolution of growth analytics, IoT
Analytics has seen a significant boost in its overall market. Edge
analytics is a primarily the same as video or image analytics whereas the
analysis capabilities are equipped in small devices as opposed to collaborating
all the data in a centralized enterprise data warehouse There are various
business processes which do not need substantial analytics and therefore the
data gathered, processed and analyzed on or near the edge can propel automated
decisions. For example, a local valve can be turned off on the detection of a
leak. This has created massive opportunity for IoT Analytics as it includes IoT
devices and has minimized demands on the bandwidth of the network and storage
requirements.
The
global IoT Analytics Market is segregated on the basis of Vertical as Manufacturing,
Energy & Utilities, Retail & E-commerce, Healthcare & Life
Sciences, Transportation & Logistics and Others. Based on Organization Size
the global IoT Analytics Market is segmented in Small & Medium Enterprises
(SMEs) and Large Enterprises. Based on Deployment the global IoT Analytics
Market is segmented in On-premise and Cloud.
The
global IoT Analytics Market report provides geographic analysis covering
regions, such as Europe, North America, Asia Pacific, and Rest of The World.
The IoT Analytics Market for each region is further segmented for major
countries including the U.S., Canada, Germany, the U.K., France, Italy, China,
India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Accenture
Plc, AGT International, Amazon Web Services Inc.,Capgemini SE, Cisco Systems
Inc. and others are among the major players in the global IoT Analytics Market.
The companies studied in terms of product strategy and various n several growth
and expansion strategies to gain a competitive edge in the market. The major
players not only follow value chain integration with business operations in
multiple stages of the value chain.
- In
November 2019 for instance, IBM Company introduced Maximo Asset Monitor, which
is an AI-based monitoring solution designed for asset maintenance at enterprise
scale, and to perceive and optimize operating performance. This improved solution
is anticipated to provide vital insights using AI for detection of causes for
operational failure and provide clear visibility into vital equipment
performance.
- In
November 2019, Amazon Web Services (AWS) declared that it will be including
updates for Alexa Voice Service as well to edge services, IoT Greengrass. Moreover,
AWS supported IoT device management as well as added new capabilities for IoT
analytics, which will enable easier management of new devices.
- In March
2018, IBM Corporation introduced IoT cloud platform, which includes features of
public cloud for the data center. This is projected to analyze consumer requirements
and increase number of loyal consumers and create high revenue opportunities
for the company.
The global IoT Analytics Market has been segmented
as below:
IoT
Analytics Market, By Vertical
- Manufacturing
- Energy & Utilities
- Retail & E-commerce
- Healthcare & Life Sciences
- Transportation & Logistics
- Others
IoT
Analytics Market, By Organization Size
- Small & Medium Enterprises
(SMEs)
- Large Enterprises
IoT
Analytics Market, By Deployment
IoT
Analytics Market, By Region
- Europe
- North America
- Asia Pacific
- Rest of The World
IoT
Analytics Market, By Company
- Accenture Plc
- AGT International
- Amazon Web Services Inc.
- Capgemini SE
- Cisco Systems Inc.
- Dell Technologies Inc.
- GE Digital
- Google LLC
- Greenwave Systems Inc.
- IBM Corporation
- Microsoft Corporation
- Nokia
- Oracle Corporation
- PTC Inc.
- Salesforce.com Inc.
- SAP SE
- Siemens AG
- Teradata Corporation
The
report covers the below scope:
- Global IoT Analytics Market sizes
from 2020 to 2026, along with CAGR for 2020-2026
- Market size comparison for 2019 vs
2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to
2026
- Global IoT Analytics Market trends,
covering comprehensive range of consumer trends & manufacturer trends
- Value chain analysis covering
participants from raw material suppliers to the downstream buyer in the global IoT
Analytics Market
- Major market opportunities and
challenges in forecast timeframe to be focused
- Competitive landscape with analysis
on competition pattern, portfolio comparisons, development trends and strategic
management
- Comprehensive company profiles of
the key industry players
The
years considered for the study are as follows:
- Base year - 2019
- Estimated year - 2019
- Projected year - 2020
- Forecast period - 2021 to 2026
Report
Scope:
The global IoT Analytics Market report scope
includes detailed study covering underlying factors influencing the industry
trends. The report covers analysis on regional and country level market
dynamics. The scope also covers competitive overview providing company market
shares along with company profiles for major revenue contributing companies.
The report scope includes detailed competitive outlook covering market shares
and profiles key participants in the global IoT Analytics Market share. Major
industry players with significant revenue share include Accenture
Plc, AGT International, Amazon Web Services Inc.,Capgemini SE, Cisco Systems
Inc. and others.
Why to
Buy this Report:
- Gain detailed insights on the IoT Analytics
industry trends
- Find complete analysis on the
market status
- Identify the IoT Analytics Market
opportunities and growth segments
- Analyse competitive dynamics by
evaluating business segments & product portfolios
- Facilitate strategy planning and
industry dynamics to enhance decision making
Target
Audience:
- The report targeted towards the existing players in
the industry is as follows:
- Market Manufacturers/Service
Providers
- Market Wholesale/Traders
- Investment and Financial
Institutions
Free
and Paid Customization based on the requirement