The Internet of Things (IoT) data management market is gaining traction, due to widespread adoption of end-to-end data management platforms for capitalizing IoT data more efficiently and flexibly across organizations. Modernization of existing data warehouse systems and increased adoption of data encryption for IoT device security are some of the other factors contributing to the growth of the IoT data management market. MarketsandMarkets forecasts the global IoT data management market size to grow from USD 27.54 Billion in 2017 to USD 66.44 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.3%.
There are several established players in the IoT data management market, such as International Business Machines (IBM) Corporation, PTC Inc., Teradata Corporation, Dell Technologies, Inc., Cisco Systems, Inc., SAS Institute Inc., Hewlett Packard Enterprise (HPE) Company, Fujitsu Limited, Oracle Corporation, Google Inc., and SAP SE. These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers, acquisitions, and new product developments, to achieve growth in the global IoT data management market.
IBM Corporation is one of the leading players in the IoT data management market. The company has adopted both organic and inorganic growth strategies to enhance its market presence. It has entered into various partnerships and strategic alliances with local and global market players. For instance, in 2015, IBM Corporation collaborated with ARM Ltd., a provider of architecture, processors, and graphics, to expand its IoT platform for providing better products and services to electronics manufacturers. Similarly, IBM collaborated with Bosch, an engineering and electronics company, for Industrial Internet of Things (IIoT). As per the collaboration, Bosch’s IoT Suite services would be made available on IBM’s Bluemix and Watson IoT platforms.
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Oracle Corporation is another established vendor in the IoT data management market. The company has a strong geographic presence worldwide, including the regions of North America, Asia Pacific (APAC), Middle East and Africa (MEA), Europe, and Latin America. The company focuses more on inorganic growth strategies to tap the benefits of the IoT data management market. In 2017, Oracle collaborated with Huawei Technologies Co. Ltd. for a joint sales and marketing agreement. As per the agreement, both the companies would collaborate to work in the smart grid industry in the IoT space, thereby boosting the IoT data management market opportunities. Oracle Corporation partnered with Huawei Technologies in R&D, and implementation and testing services to improve operational efficiency and customer experience of IoT data management clients.
Internet of Things (IoT) Data Management Market by Solution (Data Integration, Data Analytics and Visualization, Metadata Management, Data Security), Service, Deployment Type, Organization Size, Application Area, and Region - Global Forecast to 2022
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