Zion Market Research, the market research group announced the analysis report titled "Analytics of Things Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Sarasota, FL -- (SBWIRE) -- 10/10/2017 -- Global Analytics of Things Market: Overview
Analytics of Things system is used to manage large customer data to analyze and keep the record. It has been increased due to rapidly changing technology and social media, Internet, and mobile utility. Analytics of Things is used in several applications such as infrastructure management, energy management, security & emergency management, inventory management, building automation, sales & customer management, remote monitoring, and predictive maintenance & assets management.
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Global Analytics of Things Market: Segmentation
The global analytics of things market is segmented on the basis of applications as infrastructure management, energy management, security & emergency management, inventory management, building automation, sales & customer management, remote monitoring, and predictive maintenance & assets management. Of which, predictive maintenance & assets management segment is the leading segment in the analytics of things market. Inventory management is the second largest application segment which accounted for the largest market share due to increasing need for resolving inventory and stocking issues on a real-time basis.
Based on industry vertical, the global analytics of things market is divided as healthcare, energy & utilities, telecommunications & IT, transportation & logistics, retail, government & defense, manufacturing, and others. The healthcare segment accounted for the highest market share globally.
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Global Analytics of Things Market: Growth Factors
Analytics of things solutions is adopted in several industries such as government & defense, retail, transportation & logistics, telecommunication & IT, energy & utilities, healthcare, and others. However, the retail industry is growing at the faster rate, owing to augmenting customer preference and growing need to analyze customer data; hence customer buying pattern is expected to foster in future. Analytics of things is growing due to rapidly changing technology which in turn results into generation of vast data and need to analyze such unstructured data. This is anticipated to enhance the global market growth.
Global Analytics of Things Market: Regional Analysis
North America is the dominating regional segment in the market. It is anticipated to witness high growth owing to increasing demand for analytics of things. The U.S. and Canada are spending large amount on R&D for new innovation in technology. This trend is followed by Europe, owing to high demand for advance technology which positively impacts the global market growth.
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Asia Pacific holds the largest market share in the global analytics of things market owing to tremendous demand for analytics of things in this region. This growth in massive data is mainly due to rise in the number of channels such as mobile computing, IoT, and social media. China, India and Japan are major upcoming and developing economies. People in these regions use social media and Internet; this is anticipated to fuel the market in future.
Global Analytics of Things Market: Competitive Players
Some of the key players dominating the global analytics of things market are AGT International, Capgemini, Microsoft Corporation, Intel Corporation, and IBM Corporation. Other key players in the global market are TIBCO Software, Cisco Systems, Google, Inc., and Accenture. Many companies have acquired the policy of merger and acquisition to enhance their market place. For instance, Cisco Company acquired IoT Analytics Company. Cisco developed ParStream database mainly for Internet of Things environment.
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