IoT Analytics Market Overviews
IoT Analytics Market size was valued at US$ 48.64 Billion in 2023 and the total Market revenue is expected to grow at 29.8% through 2024 to 2030, reaching nearly US$ 301.99 Billion.
Advancements in technology have driven significant growth in the adoption of IoT Analytics across various sectors, including private, commercial, and industrial applications. Key factors contributing to this integration include the decreasing costs of sensors used for data collection, advancements in communication technologies, and improvements in IoT network security. These developments have enabled the application of IoT Analytics in emerging fields such as smart cities, smart agriculture, and cold storage monitoring systems. Additionally, the rise of cloud-based technologies, such as Amazon Redshift, for data processing, analytics, and insight generation has reduced implementation costs, facilitating widespread adoption across a diverse range of applications.
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IoT Analytics Market Scope and Methodology:
The IoT Analytics market is projected to expand significantly post-pandemic, with an expected compound annual growth rate (CAGR) of 29.8%, increasing from USD 22.25 billion in 2021 to USD 106.40 billion by 2027. The growing adoption of IoT analytics across various sectors, including agriculture, healthcare, robotics and automation, transportation, and logistics, is driving this growth. Additionally, there is a rising demand for reliability and reduced operational errors, particularly in specialized fields such as healthcare and aerospace
IoT Analytics Market Regional Insights
North America leads the overall market share owing to IoT Analytics market leaders such as Amazon Web Services, Google, Hitachi, HP, etc. Early adapters’ demographic buying behavior helps fuel the implementation of new solutions and acts as an incentive for early deployment. As a result, there is a prediction of increased Analytics demand in the region because of the increase in IoT devices, mobile computing, and social media.
IoT AnalyticsMarket Segmentation
By Industry Vertical, the IoT Analytics market is categorized into Healthcare, Government & Defense, Manufacturing, Energy & Utilities, IT & Telecom, Logistics & Transportation, Retail, and Others. In 2021, the manufacturing segment captured the largest market share at xx%, driven by the extensive use of IoT devices within the industry. The high number of sensors deployed for monitoring various manufacturing environment parameters—such as temperature, humidity, atmospheric pressure, and luminescence—contributes to the growing demand for analytics in this sector.
Following manufacturing, the Energy and Utilities sector also shows significant demand for IoT analytics due to the diverse range of sensors utilized. Retail and E-Commerce sectors follow closely behind. In Healthcare and Life Sciences, specialized IoT devices, including implants and critical life-saving equipment like defibrillators, require advanced data analysis techniques to ensure effective monitoring and management of patient health.
IoT Analytics Market Key Players
Amazon Web Services
Accenture PLC
Cisco Systems, Inc
Oracle Corporation
IBM Corporation
Salesforce.com Inc
Siemens AG
General Electric Company
Vitria Technology, Inc.
Larsen & Toubro Infotech Limited
C3, Inc.
Dell Technologies Inc.
Google LLC
The Hewlett Packard Enterprise Company
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Key questions answered in the IoT Analytics Market are:
- What is IoT Analytics ?
- What was the IoT Analytics market size in 2023?
- What is the growth rate of the IoT Analytics Market?
- Which are the factors expected to drive the IoT Analytics market growth?
- What are the different segments of the IoT Analytics Market?
- What growth strategies are the players considering to increase their presence in IoT Analytics ?
- What are the upcoming industry applications and trends for the IoT Analytics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the IoT Analytics Market?
- Who are the leading companies and what are their portfolios in IoT Analytics Market?
- What segments are covered in the IoT Analytics Market?
- Who are the key players in the IoT Analytics market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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