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 analyses 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 factor 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 this platform, the organizations are enabled for ingest, parse and analyses 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 help 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
IBM corporation (U.S.)
Intel Corporation (U.S.)
Accenture PLC (Ireland)
Cisco Systems (U.S.)
Nokia Networks (Finland)
SAP SE (Germany)
AGT International (Switzerland)
Mnubo Inc. (Canada)
Industry/ Innovation/ Related News:
March 21, 2017 – AT&T Inc. (US) and IBM Watson (U.S) has offered customers insights into their industrial IoT data via connected services. These solutions provides better prediction in maintaining and optimizing the machines. These analytics helps in detecting different kind of anomalies in very few seconds.
Apr 03, 2017 – Cisco and SAS has release Edge-to-Enterprise IoT Analytics Platform. This platform helps the organizations to apply analytics to the network based on their requirements. The Edge-to-Enterprise IoT Analytics is converting edge data collected via internet of things analytics.
Jan. 18, 2016 – Intel Corporation has revealed technological innovations which is driving internet of things analytics. It enables future retail systems with analytics and helps in understanding and connecting with customers. The company has invested in technology that uses data analytics and software to make smarter decisions.
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IOT Analytics Global Market is expected to be dominated by North America with the largest market share due to developed automotive industry and also due to presence of major IT industries in the region, and therefore accounting for a huge economy by 2022. IOT Analytics Market in Asia-Pacific market is expected to grow at a considerable rate of CAGR. And this growth is driven by high adoption of IoT-enabled devices, economic development in China, Japan, and India, growing infrastructure developments, and increasing foreign investment in the region. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of IOT Analytics solutions in the region.
- System integrators
- Entertainment industry
- Education industry
- Research and consulting firms
- Small and large enterprises
- Government agencies
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