Increasing Competitive Rivalry and Use of IoT Devices to Trigger the IoT Analytics Market

Wed, 24 June 2020 8:33

The rising need for cost-effectiveness and advanced technologies is amplifying the adoption of IoT analytics, which helps users to attain real-time information. Nowadays, data has significant value, and it can drive the revenue of business organizations. IoT devices are used by all sectors, and they generate enormous volumes of unstructured data, which can be converted into actionable insights by leveraging IoT analytics.

The rising significance of cost and time management, increasing implementation of automation among businesses, surging requirement for real-time information, and escalating need for competitive advantage are some of the prominent factors driving the growth of the global IoT analytics market. The rising adoption of this technology in various business sectors such as manufacturing, healthcare, retail, BFSI, telecom, and various others is providing lucrative opportunities for the market in the coming years.

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Market Highlights

  • By organization size, large enterprises dominate the global IoT analytics market. These organizations have ample resources and several functional units, which eventually drives the demand for IoT analytics. In addition, the R&D units of large enterprises are strong, which also impels market growth.
  • By deployment model, the on-premise segment dominated the market in 2019 with concerns regarding data security and increasing internet penetration driving on-premise deployment to overcloud deployment. However, the cloud segment is expected to soon surpass the on-premise segment owing to its many benefits, especially cost-effectiveness.
  • By the end-use industry, the manufacturing segment dominates the global IoT analytics market. Manufacturing companies are exploiting the technology for optimizing the use of their assets. IoT analytics helps manufacturers with economic benefits by providing valuable information and insights.
  • By region, Asia-Pacific is expected to emerge as a lucrative market for IoT analytics owing to the presence of a large number of manufacturing units in India and China. Moreover, the widespread usage of social media, mobile computing, and IoT technologies also create growth avenues for the regional market.
  • A few of the key players in the global IoT analytics market are Amazon Web Services, Inc. (The U.S.), Cisco Systems, Inc. (The U.S.), Dell Technologies, Inc. (The U.S.), Google, Inc. (The U.S.), Greenwave Systems, Inc. (The U.S.), Hitachi, Ltd. (Japan), HP Enterprise Company (The U.S.), IBM Corporation (The U.S.), Microsoft Corporation (The U.S.), Oracle Corporation (The U.S.), PTC, Inc. (The U.S.), Salesforce.com, Inc. (The U.S.), SAP SE (Germany), and Teradata Corporation (The U.S).

IoT Analytics Market Segmentation

By Deployment Mode

  • Cloud
  • On-Premise

By Organization Size

  • Small and Medium Enterprises
  • Large Enterprises

By End-Use Industry

  • Banking, Financial Services, and Insurance (BFSI)
  • Agriculture
  • Healthcare
  • Manufacturing
  • Retail
  • Energy and Utility
  • Telecom and IT
  • Government and Defense

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Russia
  • BENELUX
  • The Czech Republic
  • Poland
  • Slovakia
  • Slovenia
  • The Rest of Europe

Asia-Pacific (APAC)

  • China
  • Japan
  • India
  • Korea
  • Australia
  • Southeast Asia
  • The Rest of Asia-Pacific

South America

  • Brazil
  • Argentina
  • Chile
  • The Rest of South America

The Middle East and Africa (MEA)

  • South Africa
  • Egypt
  • The UAE
  • Saudi Arabia
  • The Rest of MEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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