New Software market report from Markets and Markets: "Internet of Things (IoT) Analytics Market - Global Forecast to 2020"
Boston, MA -- (SBWIRE) -- 08/17/2015 -- Internet of Things (IoT) Analytics Market by Application Platform (Telematics, Wearable, Building Automation, Manufacturing, Retail, Healthcare,), Solutions (Sensor and Gateway Analytics), Deployment, Process, Regions - Global Forecast to 2020
The Internet of Things (IoT) analytics market is rapidly gaining traction primarily due to the sudden outburst of data from IoT-enabled devices and increasing global penetration of connected devices. The IoT analytics tools have an unprecedented role in various industry verticals such as manufacturing, healthcare, energy and utilities, retail, and transportation and logistics. The basic reason for the growth is the increasing number of IoT-enabled smart connected devices and sensors which release a large amount of heterogeneous data simultaneously. This data can be harnessed and analyzed using IoT analytics tools and platforms to improve real-time decision making and customer experience. Furthermore, end-to-end automation in various industries such as manufacturing, healthcare, transportation and logistics, and deployment of predictive analytics in businesses are driving the overall growth of this market.
View Full Report Details and Table of Contents
The IoT analytics market is still at a nascent stage, but it is gradually expected to grow towards maturity in the developed regions of North America and Europe. However, emerging regions such as APAC and MEA have great potential and are expected to achieve a bolstered growth in coming five years. The demand for cloud-based deployments is accelerating in this market due to its cost-effectiveness and benefits of hassle-free maintenance. Since the market is emerging, it is less competitive with fewer entry and exit barriers. However, the control lies with niche players who provide dedicated IoT analytics platforms, thereby increasing their bargaining capabilities among the small vendors and startups. Though there is notable traction of IoT analytics in large enterprises, the emergence of PaaS delivery models has increased its usage in SMBs too. There are still certain concerns restraining growth in this market, including the lack of highly efficient real-time analytics algorithms which leads to underutilization of analytics tools and data security issues.
Furthermore, the report provides an in-depth analysis of the IoT analytics market across the solutions and services types, deployment modes, application platforms, and industry verticals. The market is also segmented by region into North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America. Among all the regions, North America holds the largest market size whereas APAC is the major growing region.
The global IoT analytics market is expected to grow from $4,857.2 million in 2015 to $16,353.5 million by 2020, at a Compound Annual Growth Rate (CAGR) of 27.4%. The key players in this market include IBM, Intel, SAP, AGT International, Thingworx, Accenture, Capgemini, Mnubo, and Nokia Networks.
There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, economic, social, technological, and economic factors. The dollar fluctuations are expected to not seriously affect the forecasts in the emerging regions.
The report will help the market leaders or new entrants in this market in the following ways:
1. This report segments the market into various sub-segments covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across the different end users and regions.
2. This report will help in the better understanding of the competitors and gain more insights to better one's position in business. There is a separate section on competitive landscape, which includes competitor ecosystem, and mergers and acquisitions, partnerships, and agreements. Besides, there are company profiles of ten players in this market. In this section, market internals are provided that can put one ahead of the competitors.
3. The report also helps in understanding the overall growth of the market. It provides information on the key market drivers, restraints, challenges, and opportunities.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Software research reports at Fast Market Research
You may also be interested in these related reports:
- Big Data in Internet of Things (IoT): Key Trends, Opportunities and Market Forecasts 2015 - 2020
- Embedded Infrastructure and Devices in the Internet of Things (IoT) Ecosystem: Next Generation Embedded System Hardware, Software, Tools, and OSs 2015 - 2020
- Web Content Management Market - Global Forecast to 2020
- Video Analytics Market - Global Forecast to 2020
- Industrial Convergence Revolution: Smart Cities, Industry 4.0, Big Data in Manufacturing, and Industrial IoT