IoT Analytics Software Market Scope
IoT analytics software is used to analyze and visualize sensor data from internet-connected devices by various organizations. They are used to understand the continuous stream of structured, unstructured, and time-series data produced by connected devices so that businesses can understand historical data and predict future outcomes. Companies and organizations may utilize IoT analytics solutions to track the performance of machinery, provide predictive maintenance recommendations, and better understand unique data related to their devices such as motion, sound, and temperature. The industrial sector has started adopting IoT analytics software to streamline their factories, which are increasingly automated by robots. These robots that are often networked together enable manufacturers to use the data to make better decisions. This has led to significant growth of the global IoT analytics software market in the forecast period.
The IoT Analytics Software market study is segmented by Type (Sensor Data Analytics, IoT Gateway Analytics and Network Management), by Application (Energy Management, Predictive and Asset Management, Inventory Management, Security and Emergency Management, Sales and Customer Management, Building Automation, Infrastructure Management, Remote Monitoring and Others) and major geographies with country level break-up.
Amazon Web Services (United States), IBM Corporation (United States), Microsoft Corporation (United States), Google LLC (United States), AT&T (United States), HP (United States), Oracle Corporation (United States), SAP SE (Germany), Cisco Systems Inc. (United States) and Dell Technologies Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are PTC Inc. (United States), Hitachi Ltd. (Japan), Teradata Corporation (United States), Nokia Networks (Finland) and Software AG (Germany).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global IoT Analytics Software market by Type, Application and Region.
On the basis of geography, the market of IoT Analytics Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 9th February 2021, Software AG has entered into a collaboration agreement with Automation Anywhere, which will make scalable automation achievable for more businesses. Software AG’s ARIS platform will bookend Automation Anywhere RPA with process mining and process management. This will improve the discovery of automation opportunities and then the management of automated processes.
Recently, IBM has launched a private IoT analytics cloud platform which encompasses the same features of the public cloud for the data centre. This is likely to foster the number of consumers for the company and bring a high influx of revenue.
- The Increasing Need for Real-Time Data Across Various Verticals including Connected Logistics, Autonomous Vehicles, and Others
- Increasing Deployment of Automation in Various Industry
- Surging Emphasis on Time and Cost Management
- Rising Trend of Automation in Industry 4.0 in both Developed and Developing Countries
- High Installation Cost of IoT Analytics Software
- Increased Complexity due to Big Data Analytics
- The Increasing Issues Associated with Processing and Ownership of Data Across Various Industry Verticals
Key Target AudienceIoT Analytics Software Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the IoT Analytics Software Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.
3. What is expected growth rate?
According to AMA, the Global IoT Analytics Software market is expected to see growth rate of 28.45%.