Global Internet of Things (IoT) Analytics Market Report 2023: Asset Management and Maintenance to Deliver Huge Revenue Opportunities for Predictive and Prescriptive IoT Analytics

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Global market for Internet of Things (IoT) Analytics

Global market for Internet of Things (IoT) Analytics

Global market for Internet of Things (IoT) Analytics

Dublin, May 30, 2023 (GLOBE NEWSWIRE) — The report “Internet of Things (IoT) Analytics – Global Strategic Business Report” has been added to ResearchAndMarkets.com offer.

Global Internet of Things (IoT) analytics market to reach $166.5 billion by 2030

In the changed post COVID-19 business landscape, the global Internet of Things (IoT) Analytics market, estimated at US$24.8 billion in 2022, is projected to reach a revised US$166.5 billion by 2022. 2030, with growth at a CAGR of 26.9% in the analysis period 2022-2030.

Manufacturing, one of the segments analyzed in the report, is expected to grow at a CAGR of 30% and reach $55.9 billion by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, growth in the Energy & Utilities segment is readjusted to a revised CAGR of 25.7% for the next 8-year period.

US market is valued at $8.4 billion, while China is expected to grow at 31.1% CAGR

The Internet of Things (IoT) Analytics market in the United States is estimated at $8.4 billion in 2022. China, the second largest economy in the world, is projected to reach an expected market size of 13.9 billion dollars by 2030 at a CAGR of 31.1% over the analysis period 2022-2030.

Other notable geographic markets include Japan and Canada, each of which expect growth of 22% and 22.9% respectively over the period 2022-2030. In Europe, Germany is projected to grow at around 28.1% CAGR.

What’s new for 2023?

  • Special coverage on the Russia-Ukraine war; global inflation; easing of China’s “zero-Covid” policy and its “irregular” reopening; supply chain disruptions, global trade tensions; and recession risk.

  • Global competitiveness and percentage market shares of major competitors

  • Market presence in multiple geographic areas: strong/active/niche/banal

  • Online Peer-to-Peer Interactive Collaborative Tailored Updates

  • Access to our digital archives and MarketGlass research platform

  • Free updates for one year

Select Competitors (Total 65 Featured)-

  • cisco systems, inc.

  • AT&T, Inc.

  • Accenture SpA

  • Web Services Amazon, Inc.

  • Capgemini SE

  • Bosch group

  • Aeris Communications, Inc.

  • Cloudera, Inc.

  • Avanade, Inc.

  • Bosch Software Innovation GmbH

  • Agt International GmbH

  • Ayla Networks, Inc.

  • Altizon Systems Pvt., Ltd.

  • Arbela Technologies Corporation

  • Adaptense Technologies Inc.

Key Attributes:

Ratio attribute

Details

No. of pages

484

Forecast period

2022 – 2030

Estimated market value (USD) in 2022

$24.8 billion

Projected market value (USD) by 2030

$166.5 billion

Compound annual growth rate

26.9%

Regions covered

Global

Main topics covered:

I. METHODOLOGY

II. SYNTHESIS

1. MARKET OVERVIEW

  • Influencer Market Insights

  • Trajectories of the world market

  • Impact of Covid-19 and looming global recession

  • The era of analytics provides the cornerstone for the disruptive growth and proliferation of IoT analytics

  • US dominates global market, China leads market gains

  • Manufacturing, the largest end-use industry

  • Internet of Things (IoT) Analysis – Percentage Market Share of Top Global Competitors in 2022 (E)

  • Competitive Market Presence: Strong/Active/Niche/Common for Gamers Worldwide in 2022 (E)

2. FOCUS ON SELECTED PLAYERS

3. MARKET TRENDS AND DRIVERS

  • Growing IoT ecosystem, the cornerstone for growth in the market

  • Why is IoT investing attractive?

  • IoT data science and analytics take a leap forward against the backdrop of the rapidly expanding IoT ecosystem

  • As IoT connection becomes vital for digital survival and transformation, analytics emerges as the backbone for IoT value creation

  • The deluge of IoT Big Data, a spillover from the growing IoT ecosystem, amplifies the importance and value of analytics

  • The pressure to realize ROI on IoT investments intensifies

  • The explosion of IoT big data catalyzes the need for analytics to generate insights needed for informed decision making and value creation

  • The growth of IoT connected devices per capita opens up the data pipe for the free flow of big data

  • Extracting insights from data is the key to greater profitability and ROI on IoT investments and this is where analytics comes in

  • Analytics takes on new meaning as IoT ecosystems evolve and data growth spirals, making aggregation and analytics bywords for IoT success and value creation

  • Asset management and maintenance to provide huge revenue opportunities for predictive and prescriptive IoT analytics

  • Strong Global Opportunity in Enterprise Asset Management Strengthens Business Case for IoT Asset Management

  • Cloud-based solutions, the preferred deployment model for IoT analytics

  • Hybrid IoT Analytics: Combining the best of cloud-based IoT analytics and analytics at the edge

  • As the cloud becomes the future of all enterprise IT deployments, IoT analytics as a cloud service will become a mainstream service innovation in the coming years

  • The rise of smart cities and the focus on intelligent energy management opens up opportunities for IoT analytics

  • Smart meter proliferation expands role of IoT and analytics for visualizing smart meter data: Cumulative global smart meter installations (in millions of units) for the years 2018, 2020, 2022, and 2024

  • Global annual smart meter spend (in billions of US dollars) for the years 2017, 2019, and 2021

  • The growing popularity of IoT in the retail and e-commerce sector generates the need for IoT analytics

  • As the focus on a better shopping experience drives the use of IoT in the retail sector, the need for ROI conversions on investments expands the opportunities for analytics

  • With innovation and efficiency becoming vital to manufacturing success, IoT and analytics become critical to value creation

  • Growing investments in IoT by manufacturing companies shift focus to having IoT deliver business value through analytics

  • The growing trend of connected cars is driving applications of IoT and analytics in the automotive sector

  • With IoT playing a key role in enabling the connected car revolution, leveraging the data created by IoT systems becomes critical for automotive OEMs to generate serious ROI: data generated by connected cars per hour, year, and by sensor type

  • With an increasing number of transportation companies leveraging IoT for intelligent fleet management, IoT analytics takes center stage

  • Rising smart fleet management spending adds pressure to accelerate return on investment (ROI) from IoT initiatives

  • Predictive analytics for the IoT remains widely popular in machine and equipment maintenance

  • Prescriptive analytics to assist in increased long-term adoption supported by additional decision support benefits

  • Analyzing sensor data remains critical in monitoring IoT devices

  • Robust IoT Sensor Shipments Highlighted by Large IoT Sensor Market Highlights Need for On-the-Fly Analysis of Rapid Big Data Movement Across Sensor Networks

  • Migration to value-based care and subsequent adoption of IoT to open new growth avenues for IoT analytics in healthcare

  • The present and future prospects of the IoT in healthcare

  • IoT Penetration in Myriad Areas of Healthcare Expands Addressable Market Opportunities for IoT Analytics

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report, please visit https://www.researchandmarkets.com/r/69v1yj

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