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Internet of Things Analytics Market, 2025 | Analytics of Things Report

Internet of Things (IoT) Analytics Market Analysis Report By Vertical, By Organization Size, By Deployment And Segment Forecasts From 2017 To 2025

Report ID: MN17617937  |  Published: July 2020  |  No of Pages: 85
Format: Electronic (PDF)  |  Industry: Computing & Technology  |  Publisher: Grand View Research

Industry Outlook

The global internet of things (IoT) analytics or analytics of things market size was worth USD 5.7 billion in the year 2016 and is anticipated to register a CAGR of 29.7% from 2017 to 2025. The size of IoT data is continuously increasing owing to the launch of smartwatches, smart infrastructure, smart cities, and smart glasses. Such data is analyzed with the help of analytics of things. Rapidly changing technologies and social media, internet, and mobile utility are driving the adoption of analytics of things. Moreover, cost cuts in sensors and lower processing power are some of the major trends boosting the market growth.

The rising importance of time management and cost, increasing demand for real-time data, growing competitive rivalry, the emergence of superior technologies, and rising penetration of automation in businesses is stimulating the market. Analyzing things helps organizations acquire real-time information and effective decision-making process to gain maximum profits.

U.S IoT analytics market

IoT analytics provide various benefits like advanced processing and real-time insights. This solution enables users to gain a precise understanding of a product, make better marketing and operational decisions, and cut down the time. The key hindrance to the market includes managing the volume of IoT data. Additionally, concerns about processing and ownership of data are expected to be the challenges for market growth.

Developed regions like North America and Europe are projected to be the major revenue generators of the market due to higher use of analytics of things solutions over all verticals. These regions are early adopters of such innovative technologies owing to the existence of technology giants. Additionally, the availability of reliable network connectivity and technology infrastructure across the region is motivating the regional market growth.

Vertical Insights

The healthcare & life sciences segment is expected to witness the fastest growth from 2017 to 2025. Leading technology industry players are aggressively investing in resources for acquiring a greater share in the IoT healthcare market. IoT enables data storage, analysis, and recording. It further helps in reducing healthcare operational costs and errors. Moreover, rising competition is motivating businesses to cater to the analytics of things to gain a competitive edge in the market.

The manufacturing segment is expected to observe a substantial growth in the upcoming years. Several enterprises in the heavy machinery & construction, industrial machinery, oil & gas, and transportation & logistics sectors are using analytics of things for optimum utilization of assets. Manufacturing companies largely prefer cloud-based solutions like predictive maintenance results. IoT analytics provide better manufacturing processes and link products, people, and machines to an integrated system. Manufacturers provide ease in monitoring data insights deployed by analytics of things.

Organization Size Insights

The small and medium enterprises segment is expected to register the highest CAGR by 2025 due to the increasing demand for automation in numerous businesses. Furthermore, digital transformation has led to the increasing use of the internet in SMEs. Entrepreneurs prefer using the latest technologies to provide better customer experience, thus, boosting the IoT analytics market. Moreover, reduced costs and easy availability of cloud-based developments are some of the major contributors to segment growth.

The large enterprise was the leading segment market in 2016. It is expected to maintain its leave over the projected period. Large enterprises have various operating units and abundant resources, which stimulate the demand for analytics of things. Moreover, these enterprises mostly have strong innovation and R&D department which impels market growth.

Deployment Insights

The on-premise segment accounted for the largest share in the market in 2016 due to rising internet usage and data security concerns. However, the cloud segment is projected to forego the shares of on-premise segment. Innovative technologies have resulted in the shifting inclination towards cloud deployment.

The cloud segment is expected to register the highest CAGR from 2017 to 2025 due to its feature of providing customized options. These solutions are expected to lead the market through the forecast period due to the developments in IoT devices.

Global IoT analytics market

The scalability, cost-effectiveness, and agility of cloud solutions allow the enterprises to introduce analytics of things solutions. Moreover, SMEs largely prefer cloud-based solutions for delivering numerous services to its customers.

Regional Insights

North America held the dominant position in the market in 2016 due to the presence of established players like Amazon Web Services, Inc. (AWS); Hewlett Packard Enterprise Development LP; Google; Cisco Systems, Inc.; Hitachi, Ltd.; and others. Advance adoption of the innovative technologies in different sectors like transportation & logistics, manufacturing, and healthcare & life sciences is positively impacting the regional market.

The demand for analytics of things in the North American regions is expected to increase due to the penetration of mobile computing, social media, and IoT devices. Countries like China, Japan, and India are emerging as developing countries in Asia Pacific. The adoption of social media & internet in these countries is rising thereby, boosting the market in the near future.

Internet of Things Analytics Market Share Insights

The major industry participants include Google; Amazon Web Services, Inc. (AWS); Greenwave Systems; Cisco Systems, Inc.; Hitachi, Ltd.; International Business Machines (IBM); and Hewlett Packard Enterprise Development LP.

Companies are emphasizing on offering innovative and cost-effective solutions. These are extensively investing in R&D activities to deploy innovative solutions and have a competitive edge in the market. Leading market players have opted for strategies like mergers & acquisitions and expansions, apart from building partnerships and product development to gain momentum in the market.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country Scope           

U.S., Canada, UK, Germany, China, India, and Japan

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global internet of things (IoT) analytics market report based on vertical, organization size, deployment, and regions:

• Vertical Outlook (Revenue, USD Million, 2014 - 2025)
    • Manufacturing
    • Energy & Utilities
    • Retail & E-commerce
    • Healthcare & Life Sciences
    • Transportation & Logistics
    • Others

• Organization Size Outlook (Revenue, USD Million, 2014 - 2025)
    • Small & Medium Enterprises (SMEs)
    • Large Enterprises

• Deployment Outlook (Revenue, USD Million, 2014 - 2025)
    • On-premise
    • Cloud

• Regional Outlook (Revenue, USD Million; 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
    • Middle East & Africa

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