Maximum data and sufficient skill to decode them efficiently can take a business to a previously unclimbed height. This deciphering becomes all the easier when different sources are inter-connected and results in opening up of wider prospects for companies. Internet-of-things (IoT) analytics forms a nexus of data obtained from various gadgets and streamlines it accordingly to provide real-time data and on the basis of data availability, analyzes situations to predict changes in state and offers necessary solutions. It has started playing a pivotal role in several large-scale industries, and relatively smaller ones are adopting it as these are cost-effective and simplifies production procedures.
The global IoT analytics market is eyeing a valuation of USD 18 billion during the forecast period (2015-2022) with a whopping CAGR of 25%, states Market Research Future (MRFR) in a report covering every aspect of the field in detail. The market is also soaring high due to shifting trends towards cloud deployment, predictive analytics, and end-to-end automation. Its consumer-friendly approach has made it an excellent preference for many.
However, the complex IoT procedure requires expertise in the operation, and there is a dearth of such skill. Even if it is available, then the acquiring cost is too high which can gridlock the market for a considerable time span.
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Major Key Players
International Business Machines Corporation (U.S.),
Intel Corporation (U.S.),
SAP SE (Germany),
Accenture PLC (Ireland),
Mnubo Inc. (Canada),
Cisco Systems (U.S.),
Nokia Networks (Finland), Pentaho (U.S), AGT International (Switzerland), are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global IOT Analytics Market.
According to MRFR, The Globally IOT Analytics market is expected to grow at the rate of more than ~25% from 2016 to 2022.
EcoEnergy Insights, an IoT expert, developed a customized program for the American West Restaurant Group (AWRG) chain in California and Utah. The software had successfully reduced the energy consumption of the restaurant by 15% a month.
Verimatrix’s Verspective Intelligence is a program designed exclusively for video service providers who get a chance to know customer viewing experience and engagement and improve their video service delivery which can help them with increased revenue.
The Global IOT Analytics Market is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Application Platform: Comprises Building Automation, Energy Management, Inventory Management, Infrastructure Management and Remote Monitoring among others.
Segmentation By Solutions : Comprises Gateway Analytics and Sensors among others.
Segmentation By Deployment: Comprises on Premises, On Cloud among others.
Segmentation By Vertical : Comprises Government, Healthcare, Financial Services, Retail, Manufacturing, Energy and utilities, Transportation and Logistics, among others.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Region-based segmentation of the market envelops namely North America, Europe, Asia Pacific, and the Middle East & Africa.
North America has the market under its control as it generates the maximum and is expected to do so in the near future. The market can give credit to well-structured industries for such overwhelming control. The region also adopts latest technologies very quickly which has given the market advantage in foraying in further in this region. Presence of some key market players within the territory is also proving beneficial for the market.
The APAC market is expecting the fastest growth rate during the forecast period. The region has registered a spurring sale in IoT enabled devices which leaves room for little speculation regarding the growth that it can have in the same time. As emerging economies, China and India are proving their worth by assisting the market in expanding.
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- System integrators
- Entertainment industry
- Education industry
- Research and consulting firms
- Small and large enterprises
- Government agencies
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