Internet of Things (IoT) Analytics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2024
Sarasota, FL -- (SBWIRE) -- 05/15/2018 -- Internet of Things (IoT) Analytics Market: Overview
Internet of Things (IoT) is where devices other than computers are connected to the internet and can send and receive data. IoT Analytics is one of the applications of IoT which is associated with data analysis tools and procedures to recognize value from the huge volumes of data generated by the connected Internet of Things devices. Sensors, network end devices and other data storing and transmitting devices are the crucial components of the collection. IoT analytics has the competence to bring together operative information with data from IT systems and deliver intelligent analytics to those who need it. IoT analytics applications include Smart home, connected cars, wearables, smart retail, energy engagement, IoT in healthcare.
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Internet of Things (IoT) Analytics market: Growth factors
Primary factors driving the global IoT analytics market are increasing adoption of smart applications and real-time solutions, rising adoption of Internet of Things devices and big data services, business intelligence and advanced analytics along with cloud deployment as companies are availing these solutions for their business, end-to-end automation and customer friendly IoT analytics platform. Prediction of potential machine failures or malfunctions and detection of anomalies in minimum time with maximum accuracy is possible with the help of machine learning libraries and open-source technologies are encouraging the market growth for IoT analytics market. With IoT analytics platform organizations are able to ingest, parse and analyze complex machine data logs of usage, performance, configuration, and settings information growth in IoT analytics market is bound to happen.
Lack of real-time analytics platform and data security and inefficiency of real-time analytics are some of the major restraining factors along with unprocessed heavy data generated from IoT enabled devices.
Internet of Things (IoT) Analytics market: Segmentation
Based on Application platform – building automation, energy management, inventory management; by Solutions – Gateway analytics and sensors; by Deployment – on premises and on the cloud; by Vertical – Government, healthcare, financial services, retail, manufacturing, energy and utilities, transportation and logistics.
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Internet of Things (IoT) Analytics market: Regional Analysis
In terms of revenue, North America is the dominant market and is anticipated to continue its preeminence throughout the forecast period due to well-developed medical infrastructure, developed automotive industry and the presence of major IT industries in the region. Within North America, the gap between the U.S. and Canada is significant, where the U.S. is the leader. Asia-Pacific region is expected to experience the highest CAGR and is driven by adoption of IoT enabled devices along with growing economies and infrastructure of China, India, and Japan in the region. China's evolution as the manufacturing hub is increasing the scope of IoT Analytics solutions in the region.
Internet of Things (IoT) Analytics market: Competitive players
Some of the major market players in the global Internet of Things Analytics market are IBM Corporation, Microsoft Corp., Cisco Systems Inc., Oracle Corp., Dell Technologies Inc., Google Inc., Amazon Web Services Inc., Hewlett Packard Enterprise Company, Intel Corp., Accenture PLC, Aeris Communication.
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Internet of Things (IoT) Analytics market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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