The Analytics of Things (AoT) market is rapidly growing owing to the tremendous growth of Internet of Things (IoT) data and the need for advanced analytics and automation for businesses. The global AoT market size is estimated to be USD 7.19 Billion in 2017 and is projected to reach USD 27.78 Billion by 2022, growing at a Compound Annual Growth Rate (CAGR) of 31.0%.
The AoT ecosystem comprises vendors including 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), Hewlett Packard Enterprise Company (US), PTC, Inc. (US), Hitachi, Ltd. (Japan), Teradata Corporation (US), Salesforce.com, Inc. (US),and Greenwave Systems, Inc. (US). The players in the AoT market have adopted various strategies to expand their global presence and enhance their market shares. Partnerships, collaborations, new product launches, and acquisitions are some of the significant strategies adopted by the players in the recent years. Players such as SAP SE, IBM Corporation, and Microsoft Corporation have adopted these strategies to expand their product portfolios.
IBM Corporation has undertaken collaborations and partnerships as its major development strategy to create a leading market edge. As a part of its inorganic growth strategy, in June 2016, IBM collaborated with Cisco to provide instant IoT insights at the edge of the network. The collaboration helped combine IBM’s Watson IoT and Business Analytics (BA) technologies with Cisco’s edge analytics capabilities to offer a new way to produce immediate, actionable insights after the data is collected. The combination of expertise and technology from the 2 companies also serves as the foundation of the Watson IoT cloud platform. In March 2017, IBM partnered with Salesforce, Inc. to deliver joint solutions designed to leverage Artificial Intelligence (AI). IBM Watson and Salesforce Einstein can be integrated to connect a new level of intelligent customer engagement across sales, service, marketing, and commerce.
Microsoft Corporation is another major provider of AoT software and services. The company has adopted organic and inorganic growth strategies to establish a strong foothold in the market. For instance, in February 2017, the company collaborated with Tata Motors, an Indian automotive manufacturing company, to leverage the connected vehicle technology of Microsoft and to combine AI, advanced machine learning, and IoT capabilities on the Azure cloud. In June 2016, Microsoft added a new feature in the Azure IoT Hub, which allows users to upload files to the cloud from their devices with the assistance of the IoT Hub.
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
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