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IoT Analytics Market by Application (Energy Management, Predictive Maintenance & Asset Management, Inventory Management, Remote Monitoring), Component, Analytics Type, Deployment, Organization Size, & Vertical - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: July 2017
Report Code: TC 3531

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The IoT Analytics market size is expected to grow from USD 7.19 Billion in 2017 to USD 27.78 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 31.0%. The report segments the market by application, component, analytics type, deployment model, organization size, industry vertical, and region. The major growth drivers of the IoT Analytics market include tremendous growth of Internet of Things (IoT) data and the need for advanced analytics and automation of businesses. The base year considered for this report is 2016, and the market forecast period is 2017–2022.

Objectives of the Study

The main objective of the report is to define, describe, and forecast the global IoT Analytics market on the basis of applications, components, analytics types, deployment models, organization sizes, industry verticals, and regions. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report aims to strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the total market. The report attempts to forecast the market size with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. It also tracks and analyzes competitive developments, such as partnerships, collaborations, and agreements; mergers and acquisitions; new product launches and new product developments; and Research and Development (R&D) activities in the IoT Analytics market.

Research Methodology

The research methodology used to estimate and forecast the IoT Analytics market begins with capturing data on key vendor revenues through secondary research, which includes directories and databases (D&B Hoovers, Bloomberg Businessweek, and Factiva). The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global IoT Analytics market that was derived from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary participants is depicted in the figure below:

IoT Analytics Market

To know about the assumptions considered for the study, download the pdf brochure

The IoT Analytics ecosystem comprises vendors such as IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), SAP SE (Germany), Cisco Systems, Inc. (US), Dell Technologies, Inc. (US), Google, Inc., (US), Amazon Web Services (US), Hewlett Packard Enterprise Company (US), PTC, Inc. (US), Hitachi, Ltd. (Japan), Teradata Corporation (US), Salesforce.com, Inc. (US), and Greenwave Systems, Inc. (US). Other stakeholders of the IoT Analytics market include vendors, research organizations, network and system integrators, IoT Analytics managed service providers, Business Intelligence (BI) solution providers, marketing analytics executives, predictive analytics providers, third-party providers, and technology providers.

IoT Analytics Key Target Audience:

  • Service providers and distributors
  • IoT Analytics application builders
  • Independent Software Vendors (ISVs)
  • Analytics consulting companies
  • Enterprises
  • End-users

“The study answers several questions for the stakeholders, primarily which market segments to focus on in the next 2–5 years for prioritizing efforts and investments.”

Scope of the Report

The research report categorizes the IoT Analytics market to forecast the revenues and analyze trends in each of the following subsegments:

By Application

  • Energy management
  • Predictive maintenance and asset management
  • Inventory management
  • Security and emergency management
  • Sales and customer management
  • Building automation
  • IT infrastructure management
  • Remote monitoring
  • Others (product and process management, and cost optimization)

By Component

  • Software
    • Sensor data analytics
    • IoT gateway analytics
    • Network management
  • Services
    • Managed services
    • Professional services
      • Consulting services
      • Support and maintenance

By Analytics Type

  • Predictive analytics
  • Prescriptive analytics
  • Descriptive analytics

By Deployment Model

  • On-premises
  • Cloud

By Organization Size

  • Small and Medium Enterprises (SMEs)
  • Large enterprises

By Industry Vertical

  • Manufacturing
  • Retail and eCommerce
  • Government and defense
  • Healthcare and life sciences
  • Energy and utilities
  • Telecommunications and IT
  • Transportation and logistics
  • Others (outsourcing services, travel and hospitality, and education)

By Region

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American IoT Analytics market
  • Further breakdown of the European IoT Analytics market
  • Further breakdown of the APAC IoT Analytics market
  • Further breakdown of the Latin American IoT Analytics market
  • Further breakdown of the MEA IoT Analytics market

Company Information

  • Detailed analysis and profiling of additional market players upto 5.

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Microquadrant Research Methodology
           2.3.1 Vendor Inclusion Criteria
    2.4 Research Assumptions and Limitations
    2.5 Limitations

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Opportunities in the IOT Analytics Market
    4.2 Analytics of Things Market: Market Share, By Region
    4.3 Analytics of Things Market, By Industry Vertical and Region
    4.4 Lifecycle Analysis, By Region, 2017

5 Market Overview and Industry Trends (Page No. - 37)
    5.1 Market Overview
           5.1.1 Introduction
           5.1.2 Market Dynamics
           5.1.3 Drivers
                    5.1.3.1 Tremendous Growth of IoT Data
                    5.1.3.2 Need for Advanced Analytics and Automation for Businesses
           5.1.4 Restraints
                    5.1.4.1 Ownership and Control of IoT Data
                    5.1.4.2 Lack of Real-Time Algorithms
           5.1.5 Opportunities
                    5.1.5.1 Emergence of Edge Analytics
                    5.1.5.2 Technological Development in Paas
           5.1.6 Challenges
                    5.1.6.1 Data Security and Privacy Concerns
                    5.1.6.2 Heterogeneous Data Processing
    5.2 Industry Trends
           5.2.1 AOT Ecosystem
    5.3 Regulatory Implications
           5.3.1 International Electrotechnical Commission (IEC)
           5.3.2 ISO/International Electrotechnical Commission Joint Technical Committee 1
                    5.3.2.1 IOS/IEC JTC 1/Special Working Group 5
                    5.3.2.2 IOS/IEC JTC 1/SC 31
                    5.3.2.3 IOS/IEC JTC 1/SC 27
                    5.3.2.4 IOS/IEC JTC 1/WG 7 Sensor Networks (WGSN)
           5.3.3 Institute of Electrical and Electronics Engineers Standards Association
           5.3.4 European Committee for Standardization (CEN)/ISO
           5.3.5 CEN/European Committee for Electrotechnical Standardization (Cenelec)
           5.3.6 European Technical Standards Institute
           5.3.7 International Telecommunication Union (ITU-T)
           5.3.8 IOT Analytics Market : Use Cases
                    5.3.8.1 Introduction
                    5.3.8.2 Use Case 1: Manufacturing
                    5.3.8.3 Use Case 2: Healthcare
                    5.3.8.4 Use Case 3: Transportation
                    5.3.8.5 Use Case 4: Telecom
                    5.3.8.6 Use Case 5: Government
                    5.3.8.7 Use Case 6: Utilities
                    5.3.8.8 Use Case 7: Retail

6 IOT Analytics Market Analysis, By Application (Page No. - 48)
    6.1 Introduction
    6.2 Energy Management
    6.3 Predictive Maintenance and Asset Management
    6.4 Inventory Management
    6.5 Security and Emergency Management
    6.6 Sales and Customer Management
    6.7 Building Automation
    6.8 IT Infrastructure Management
    6.9 Remote Monitoring
    6.10 Others

7 IOT Analytics Market Analysis, By Component (Page No. - 59)
    7.1 Introduction
    7.2 Software
           7.2.1 Sensor Data Analytics
           7.2.2 IoT Gateway Analytics
           7.2.3 Network Management
    7.3 Services
           7.3.1 Managed Services
                    7.3.1.1 Professional Services
           7.3.2 Support and Maintenance
           7.3.3 Consulting

8 IOT Analytics Market Analysis, By Analytics Type (Page No. - 71)
    8.1 Introduction
    8.2 Predictive Analytics
    8.3 Prescriptive Analytics
    8.4 Descriptive Analytics

9 IOT Analytics Market Analysis, By Deployment Model (Page No. - 76)
    9.1 Introduction
    9.2 On-Premises
    9.3 Cloud

10 IOT Analytics Market Analysis, By Organization Size (Page No. - 80)
     10.1 Introduction
     10.2 Small and Medium-Sized Enterprises
     10.3 Large Enterprises

11 IOT Analytics Market Analysis, By Industry Vertical (Page No. - 84)
     11.1 Introduction
     11.2 Manufacturing
     11.3 Retail and Ecommerce
     11.4 Government and Defense
     11.5 Healthcare and Life Sciences
     11.6 Energy and Utilities
     11.7 Telecommunications and IT
     11.8 Transportation and Logistics
     11.9 Others

12 IOT Analytics Market Geographic Analysis (Page No. - 98)
     12.1 Introduction
     12.2 North America
     12.3 Europe
     12.4 Asia Pacific
     12.5 Middle East and Africa
     12.6 Latin America

13 Competitive Landscape (Page No. - 123)
     13.1 Microqudrant Overview
             13.1.1 Visionary Leaders
             13.1.2 Innovators
             13.1.3 Dynamic Differentiators
             13.1.4 Emerging Companies
     13.2 Competitive Benchmarking
             13.2.1 Business Strategy Excellence Adopted By Major Players in the Analytics of Things Market
             13.2.2 Strength of Product Portfolio Adopted By Major Players in the Analytics of Things Market

14 Company Profiles (Page No. - 127)
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
     14.1 IBM
     14.2 Microsoft
     14.3 Oracle
     14.4 SAP
     14.5 Cisco Systems
     14.6 Dell Technologies
     14.7 Google
     14.8 Amazon Web Services
     14.9 HPE
     14.10 PTC
     14.11 Hitachi
     14.12 Teradata
     14.13 Salesforce.Com
     14.14 Greenwave Systems
     14.15 Mnubo

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 178)
     15.1 Key Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Introducing RT: Real-Time Market Intelligence
     15.5 Available Customization
     15.6 Related Reports
     15.7 Author Details


List of Tables (99 Tables)

Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 Evaluation Criteria
Table 3 IOT Analytics Market Size, By Application, 2015–2022 (USD Million)
Table 4 Energy Management: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 5 Predictive Maintenance and Asset Management: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 6 Inventory Management: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 7 Security and Emergency Management: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 8 Sales and Customer Management: Market Size, By Region, 2015–2022 (USD Million)
Table 9 Building Automation: Market Size, By Region, 2015–2022 (USD Million)
Table 10 IT Infrastructure Management: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Remote Monitoring: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 12 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 13 Analytics of Things Market Size, By Component, 2015–2022 (USD Million)
Table 14 Software: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 15 Analytics of Things Market Size, By Software, 2015–2022 (USD Million)
Table 16 Sensor Data Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 17 IoT Gateway Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Network Management: Market Size, By Region, 2015–2022 (USD Million)
Table 19 Services: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 20 Services: Analytics of Things Market Size, By Type, 2015–2022 (USD Million)
Table 21 Managed Services: Market Size, By Region, 2015–2022 (USD Million)
Table 22 Professional Services: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Professional Services: Market Size, By Type, 2015–2022 (USD Million)
Table 24 Support and Maintenance: Market Size, By Region, 2015–2022 (USD Million)
Table 25 Consulting: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 26 IOT Analytics Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 27 Predictive Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 28 Prescriptive Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Descriptive Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 30 Analytics of Things Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 31 On-Premises: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 32 Cloud: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 33 Analytics of Things Market Size, By Organization Size, 2015–2022 (USD Million)
Table 34 Small and Medium-Sized Enterprises: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 35 Large Enterprises: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 36 IOT Analytics Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 37 Manufacturing: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 38 Manufacturing: Market Size, By Application, 2015–2022 (USD Million)
Table 39 Retail and Ecommerce: Market Size, By Region, 2015–2022 (USD Million)
Table 40 Retail and Ecommerce: Market Size, By Application, 2015–2022 (USD Million)
Table 41 Government and Defense: Market Size, By Region, 2015–2022 (USD Million)
Table 42 Government and Defense: Market Size, By Application, 2015–2022 (USD Million)
Table 43 Healthcare and Life Sciences: Market Size, By Region, 2015–2022 (USD Million)
Table 44 Healthcare and Life Sciences: Market Size, By Application, 2015–2022 (USD Million)
Table 45 Energy and Utilities: Market Size, By Region, 2015–2022 (USD Million)
Table 46 Energy and Utilities: Market Size, By Application, 2015–2022 (USD Million)
Table 47 Telecommunications and IT: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 48 Telecommunications and IT: Market Size, By Application, 2015–2022 (USD Million)
Table 49 Transportation and Logistics: Market Size, By Region, 2015–2022 (USD Million)
Table 50 Transportation and Logistics: Market Size, By Application, 2015–2022 (USD Million)
Table 51 Others: Analytics of Things Market Size, By Region, 2015–2022 (USD Million)
Table 52 Others: Analytics of Things Market Size, By Application, 2015–2022 (USD Million)
Table 53 IOT Analytics Market Size, By Region, 2015–2022 (USD Million)
Table 54 North America: IOT Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 55 North America: Market Size, By Software, 2015–2022 (USD Million)
Table 56 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 57 North America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 58 North America: Market Size, By Application, 2015–2022 (USD Million)
Table 59 North America: Analytics of Things Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 60 North America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 61 North America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 62 North America: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 63 Europe: IOT Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 64 Europe: Market Size, By Software, 2015–2022 (USD Million)
Table 65 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 66 Europe: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 67 Europe: Market Size, By Application, 2015–2022 (USD Million)
Table 68 Europe: Analytics of Things Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 69 Europe: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 70 Europe: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 71 Europe: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 72 Asia Pacific: IOT Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 73 Asia Pacific: Market Size, By Software, 2015–2022 (USD Million)
Table 74 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 75 Asia Pacific: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 76 Asia Pacific: Analytics of Things Market Size, By Application, 2015–2022 (USD Million)
Table 77 Asia Pacific: Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 78 Asia Pacific: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 79 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 80 Asia Pacific: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 81 Middle East and Africa: IOT Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 82 Middle East and Africa: Market Size, By Software, 2015–2022 (USD Million)
Table 83 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 84 Middle East and Africa: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 85 Middle East and Africa: Market Size, By Application, 2015–2022 (USD Million)
Table 86 Middle East and Africa: Analytics of Things Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 87 Middle East and Africa: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 88 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 89 Middle East and Africa: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 90 Latin America: IOT Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 91 Latin America: Market Size, By Software, 2015–2022 (USD Million)
Table 92 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 93 Latin America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 94 Latin America: Market Size, By Application, 2015–2022 (USD Million)
Table 95 Latin America: Analytics of Things Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 96 Latin America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 97 Latin America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 98 Latin America: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 99 Market Ranking for Analytics of Things Market, 2017


List of Figures (49 Figures)

Figure 1 IOT Analytics Market: Market Segmentation
Figure 2 Regional Scope
Figure 3 IOT Analytics Market : Research Design
Figure 4 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 IOT Analytics Market : Assumptions
Figure 9 Analytics of Things Market is Poised to Witness Growth in the Global Market for the Period 2017–2022
Figure 10 Market Snapshot, By Component (2017 vs 2022)
Figure 11 Market Snapshot, By Service (2017–2022)
Figure 12 Market Snapshot, By Application (2017 vs 2022)
Figure 13 Market Snapshot, By Deployment Model (2017 vs 2022)
Figure 14 Market Snapshot, By Analytics Type (2017 vs 2022)
Figure 15 Market Snapshot, By Organization Size (2017 vs 2022)
Figure 16 Market Snapshot, By Industry Vertical (2017 vs 2022)
Figure 17 Need to Generate Valuable Insights From IoT Data and the Availability of Custom AOT Applications are Driving the Analytics of Things Market Growth
Figure 18 North America is Expected to Have the Largest Market Share in 2017 Because of Early Adoption of Analytics of Things Software and Services in the Region
Figure 19 Manufacturing Industry Vertical and North America are Expected to Have the Largest Market Sizes in 2017
Figure 20 Asia Pacific is Expected to Have an Exponential Growth During the Forecast Period
Figure 21 IOT Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 22 Analytics of Things Architecture
Figure 23 Inventory Management Application Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 25 IoT Gateway Analytics is Expected to Have the Highest CAGR During the Forecast Period
Figure 26 Managed Services Subsegment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 Consulting Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 28 Descriptive Analytics Type is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 29 Cloud Deployment Model is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 30 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 31 Healthcare and Life Sciences Industry Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 32 Geographic Snapshot: Asia Pacific is Expected to Have the Highest CAGR in the Analytics of Things Market During the Forecast Period
Figure 33 APAC is Projected to Have the Highest Growth Rate in the Analytics of Things Market
Figure 34 North America: Market Snapshot
Figure 35 Asia Pacific: Market Snapshot
Figure 36 IOT Analytics Market (Global), Competitive Leadership Mapping, 2017
Figure 37 IBM: Company Snapshot
Figure 38 Microsoft: Company Snapshot
Figure 39 Oracle: Company Snapshot
Figure 40 SAP: Company Snapshot
Figure 41 Cisco Systems: Company Snapshot
Figure 42 Dell Technologies: Company Snapshot
Figure 43 Google: Company Snapshot
Figure 44 Amazon Web Services: Company Snapshot
Figure 45 HPE: Company Snapshot
Figure 46 PTC: Company Snapshot
Figure 47 Hitachi: Company Snapshot
Figure 48 Teradata: Company Snapshot
Figure 49 Salesforce.Com: Company Snapshot

The IoT Analytics market is expected to grow from USD 7.19 Billion in 2017 to USD 27.78 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 31.0%. Factors such as the tremendous growth of IoT data and the need for advanced analytics and automation of businesses are driving the global market.

The report provides detailed insights into the global IoT Analytics market, which is segmented by application, component, analytics type, deployment model, organization size, industry vertical, and region. In the component segment, the IoT Analytics software segment is expected to have the larger market share during the forecast period. The demand for IoT Analytics software is rising as organizations are looking for solutions to generate business-related insights and plan the next steps accordingly based on the insights gathered. Vendors provide software and solutions that assist companies with data collection and data analysis for generating meaningful insights. IoT Analytics software filters the aggregated and enriched data so that it can be analyzed to provide a high throughput from multiple live input data sources.

Among applications, the predictive maintenance and asset management application is expected to continue its dominance during the forecast period. Asset management integrated platforms assist users in managing physical assets and tracking equipment performance. The platforms also provide service assurance by enabling real-time alerts and providing automated corrective actions.

The cloud deployment model is expected to exhibit a higher adoption compared to the on-premises deployment model. Cloud-based solutions are gaining a firm hold on the market, due to growing demands for improved service and cost-effectiveness, and the increasing needs of organizations to keep track of operational processes for maintaining productivity.

The manufacturing industry vertical is expected to have the largest market share and lead the market during the forecast period. IoT Analytics can be exploited by manufacturers to create smarter products; connect and integrate with customers; streamline innovations, planning, and pre-manufacturing processes; and improve post-manufacturing support and services.

Large enterprises are expected to dominate the market in terms of market share because they have various operating units, and IoT Analytics helps integrate the real-time and historical data obtained from these units to generate insights from it. However, Small and Medium-sized Enterprises (SMEs) are expected to exhibit a higher CAGR, owing to easy availability and scalability of cloud-based deployments.

The descriptive analytics type is expected to grow at the highest CAGR, due to the increasing adoption of digital technologies and the use of descriptive analytics for analyzing past data and gaining insights to improve efficiencies in strategic sourcing.

IoT Analytics Market

The report covers all the major aspects of the IoT Analytics market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. North America, owing to the early adoption of new and emerging technologies and the presence of the major industry players, is expected to continue to dominate the IoT Analytics market throughout the forecast period. The APAC region is expected to grow at the highest CAGR during the forecast period, owing to the growing adoption of cost-effective IoT Analytics software and services among SMEs.

The challenges faced by the IoT Analytics market are issues with data security and privacy concerns, and heterogeneous data processing, which needs to be enhanced to improve the growth of the market.

The global IoT Analytics market is fragmented in nature, as no single vendor dominates the market. Major vendors that offer IoT Analytics software and services include IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), SAP SE (Germany), Cisco Systems, Inc., (US), Dell Technologies, Inc. (US), Google, Inc. (US), Amazon Web Services, Inc. (US), HP Enterprise Company (US), PTC, Inc. (US), Hitachi, Ltd. (Japan), Teradata Corporation (US), Salesforce.com, Inc. (US), and Greenwave Systems, Inc. (US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their offerings in the overall IoT Analytics market.

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