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Market Summary

The global IoT analytics market is forecast to reach USD 70.07 Billion by 2026, according to a new report by Reports and Data. IoT Analytics can be defined as a fully-managed service which makes it easy to run and operationalize sophisticated analytics on massive volumes of IoT data without making any significant change in the cost.

It is one of the simplest and easiest way to run analytics on IoT data and get insights to make more accurate decisions for IoT applications and machine learning use cases. The growing adoption of smart TVs, smart watches, smart speakers, and appliances, among others by the consumers, generate a large amount of data, which increases the requirement of IoT analytics.

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Moreover, several manufacturing companies are using smart sensors to collect the data from multiple work-related activities throughout the facilities, and later they are using IoT analytics to extract the information from the massive amount of data collected to improve work efficiency.

IoT data is quite unstructured, which makes it challenging to analyze with traditional analytics and business intelligence tools designed to process structured data. IoT data are generated from devices that often record fairly noisy processes such as motion, temperature, or sound. The data gathered from these devices have significant gaps, false readings, and corrupted messages that need to be cleaned up before analysis.

The European Commission is actively cooperating with industry, organization, and academic institution to deploy IoT technology across EU member states. Europe is forecasted to hold a market share of 21.9% in the year 2026. Growth in infrastructure, construction, and mining, among other industry verticals, are driving the market for IoT analytics in the region.

Key Coverage of the Report

Region and country wise statistics of the global IoT Analytics market from the period 2016-2026. While 2016 & 2017 has been utilized as historical data, 2018 is considered the base year. 2019-2026 have been derived as forecasts.

Estimation of the market size along with historical and forecasted trend analysis.

Various product types available for the market have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.

Share of end-users, such as Retail, Manufacturing, Healthcare, Government and Defense, Energy and Utilities, Transportation & Logistics, Telecommunications & IT, and others, have been estimated.

Regional up-coming research and application outlook.

Regional prevalence has been mapped.

Demand and Supply GAP Analysis

Regional Competitors Pricing Strategy

Market share analysis of the top industry players

Strategic recommendations for the new entrants

Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations).

Strategic recommendations in key business segments based on the market estimations

Competitive landscaping mapping the key common trends

Company profiling with detailed strategies, financials, and recent developments.

Salient Trends of the IoT Analytics Market

Increasing emphasis on time and cost management, the proliferation of automation, soaring need for real-time data and the emergence of advanced technologies are boosting the market for IoT analytics.

IoT analytics is anticipated to offer real-time solutions to enterprises. These solutions are expected to improve the understanding of the product and provide detailed knowledge in consumer choices. It is also time-efficient.

Increase in the number of connected devices are surging the demand for IoT analytics. The growth of the ecosystem is encouraging enterprises to develop platform and services to predict, manage and optimize their business solutions.

The massive amount of data generated by IoT and issued regarding the processing and ownership of data is expected to hinder the growth of the market.

IoT analytics finds an application in smart agriculture as well. Operators use IoT analytics to enrich moisture sensor data with anticipated rainfall to optimize the water-efficiency of their automated irrigation equipment.

IBM Corporation in March 2018 launched IoT cloud platform which contains features of public cloud for the data center. This is expected to increase the number of consumers and generate high revenue.

Companies considered and profiled in this market study

Microsoft Corporation, IBM, Cisco, Amazon Web Services, Oracle, Dell Technologies, Hitachi, Salesforce.Com, PTC, Mnubo, and Google, among others.

The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.

Market-O-Nomics

The valuation for the IoT Analytics Market was USD 9.60 Billion in 2018, and it is expected to reach USD 70.07 Billion by 2026.

The services segment is forecasted to grow with a CAGR of 26.6% during the forecast period. IoT analytics is a fully-managed service that makes it easier to run and operate high-end analytics on huge amounts of data.

Prescriptive analytics is forecasted to grow with a CAGR of 28.0% during the forecast period. Prescriptive is not as popular as predictive, but with the growth in the adoption of IoT, this type of analytics will also be understood and adopted. Predictions generated from this analytics are transformed into a set of recommended actions that generate business value.

Small and medium enterprises (SMEs) held a market share of 36.8% in the year 2018. SMEs don’t possess the same options as large corporations when it comes to implementation of IoT technology. They lack human and financial resources to create new digital and IoT based solutions.

With the growing adoption of cloud-based technology, on-premises development is comparatively slow, but it is still growing with a CAGR of 27.2% during the forecast period. Deployment of software and services in the offices with a physical presence is also high.

Telecommunications and IT is witnessing a significant CAGR of 28.5% during the forecast period. There is a high demand for the industry on a global platform, especially from the Asia Pacific region. Increase in the IT companies in the countries such as China, Japan, India, and Singapore are propelling the demand for IoT analytics.

Asia Pacific is the fastest-growing region with a CAGR of 28.4% due to the increasing development of infrastructure, cloud solutions, adoption of IoT devices and other technology which manufactures massive amounts of data. The growing need to analyze these data are encouraging the IoT analytics market in the region.

Segments Covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this report, Reports and Data have segmented into the global IoT Analytics market on the basis of component, analytics time, organization size, deployment mode, end-users, and region:

Component Outlook (Revenue: USD Billion; 2016-2026)

Software

Services

Analytics Time Outlook (Revenue: USD Billion; 2016-2026)

Predictive Analytics

Prescriptive Analytics

Descriptive Analytics

Organization Size Outlook (Revenue: USD Billion; 2016-2026)

Small and Medium enterprises

Large Enterprises

Deployment Mode Outlook (Revenue: USD Billion; 2016-2026)

On-Premises

Cloud

End Users Outlook (Revenue: USD Billion; 2016-2026)

Retail

Manufacturing

Healthcare

Government and Defense

Energy and Utilities

Transportation & Logistics

Telecommunications & IT

Others

Regional Outlook (Revenue: USD Billion; 2016-2026)

North America U.S.

Europe UK France

Asia Pacific China India Japan

MEA

Latin America Brazil

