USD 1.62 billion
IoT Analytics Market Size, Share, Growth Analysis, By Analytics Type(Descriptive Analytics, Diagnostic Analytics, Predictive Analytics, Prescriptive Analytics), By Organization Size(Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Application Area(Energy Management, Predictive Maintenance and Asset Management, Sales and Customer Management, Inventory Management), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2099 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
91
|Figures:
76
IoT Analytics Market Insights
Global IoT Analytics Market size was valued at USD 1.62 billion in 2022 and is poised to grow from USD 1.71 billion in 2023 to USD 2.63 billion by 2031, growing at a CAGR of 5.52% during the forecast period (2024-2031).
The global Internet of Things (IoT) Analytics market is witnessing strong boom driven through the growing adoption of IoT across industries. Key drivers include the exponential growth of IoT-generated records, fostering the want for advanced analytics to derive actionable insights. Businesses leverage IoT analytics to decorate operational efficiency, optimize useful resource utilization, and make data-driven selections. However, demanding situations along with information safety worries and the complexity of integrating various IoT datasets pose restraints.
The marketplace sees a various range of analytics solutions, inclusive of predictive analytics and real-time analytics. North America dominates due to technological improvements, whilst the Asia-Pacific vicinity showcases rapid growth with growing IoT deployments. Key developments consist of the integration of AI and device getting to know in IoT analytics, fostering greater state-of-the-art records processing and predictive abilties.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Descriptive Analytics
Fastest Growth
Descriptive Analytics
Growth Rate
5.52% CAGR
Global IoT Analytics Market ($ Bn)
Country Share for North America Region (%)
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IoT Analytics Market Segmental Analysis
The global IoT Analytics market is segmented into four major segments i.e. by Analytics Type, Organization Size, Application Area, and region. Based on Type, it is divided into Descriptive Analytics, Diagnostic Analytics, Predictive Analytics, Prescriptive Analytics. Based on Organization Size, it is bifurcated as Small and Medium-sized Enterprises (SMEs), Large Enterprises. Based on Application it is segregated into, Energy Management, Predictive Maintenance and Asset Management, Sales and Customer Management, Inventory Management. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Analysis by Type
Predictive analytics is poised to dominate the market due to its potential to forecast destiny developments and behaviors based on historic information and superior algorithms. Businesses throughout industries value the insights gained from predicting effects, allowing proactive decision-making. Predictive analytics facilitates corporations optimize operations through figuring out capability problems before they arise.
Prescriptive analytics, while currently emerging, is predicted to be the quickest-growing analytics type. Its specific capability to no longer only expect consequences but additionally offer actionable tips for selection-making units it aside. Businesses an increasing number of seek analytics solutions that no longer handiest highlight ability situations but also manual them on most excellent moves.
Analysis by Application
Predictive protection and asset management are poised to dominate the marketplace due to their widespread effect on operational efficiency. By leveraging predictive analytics, companies can assume equipment screw ups, time table renovation sports proactively, and decrease downtime, resulting in cost financial savings and improved productiveness.
The Smart Cities utility area is anticipated to be the quickest developing, driven through worldwide urbanization trends. As towns are looking for to decorate infrastructure, aid control, and citizen offerings, the mixing of IoT analytics for clever city planning turns into pivotal.
Global IoT Analytics Market By Type
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IoT Analytics Market Regional Insights
North America is poised to dominate the IoT Analytics marketplace due to its advanced technological landscape. The vicinity, specially the United States, is a hub for innovation and early adoption of emerging technology, supplying a conducive surroundings for the substantial deployment of IoT analytics answers.
The Asia-Pacific location is anticipated to be the fastest developing market for IoT analytics. The surge in urbanization and the associated want for smart answers in hastily growing cities power the adoption of IoT analytics for city planning, transportation, and resource control.
Global IoT Analytics Market By Region
- Largest
- Fastest
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IoT Analytics Market Dynamics
Drivers
Increasing Proliferation Of Internet Of Things (Iot) Devices
- The exponential proliferation of Internet of Things (IoT) gadgets generates big volumes of records, necessitating advanced analytics to extract meaningful insights. Organizations throughout industries leverage IoT analytics to derive actionable intelligence from this facts, enhancing selection-making approaches. The increasing demand for operational efficiency, predictive protection, and actual-time insights propels the adoption of IoT analytics, especially in sectors like manufacturing, healthcare, and logistics.
Restraints
High Complexity Of Integrating Diverse Iot Datasets
- One of the primary market restraints is the complexity of integrating numerous IoT datasets, stemming from the heterogeneous nature of devices and platforms within the IoT atmosphere. This interoperability assignment hampers seamless facts glide and analysis, hindering the performance of IoT analytics answers. Data security and privacy issues constitute some other restraint, because the huge volumes of touchy information generated by means of IoT devices boost apprehensions approximately unauthorized get admission to and capacity breaches.
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IoT Analytics Market Competitive Landscape
The competitive surroundings of the IoT Analytics marketplace is dynamic and is characterised via excessive opposition among key gamers striving for market share and innovation. Established organizations and emerging entrants make contributions to the range of the market, imparting a variety of IoT analytics answers. Key gamers often engage in strategic partnerships, collaborations, and acquisitions to enlarge their product portfolios and worldwide attain.
Top Player’s Company Profiles
- Google Cloud Platform (GCP)
- IBM Watson IoT Platform
- Cisco Kinetic for
- Siemens MindSphere
- Bosch IoT Suite
- PTC ThingWorx
- GE Predix
- Software AG Cumulocity
- SAS Viya
- Oracle IoT Cloud
- FogHorn Systems
- ThingSpeak
- StreamSets
- Actility ThingPark
- HiveMQ
- TheThingsNetwork
- Losant
Recent Developments
- September 2023: AnyTech365 has disclosed a SPAC cope with the objective of merging Artificial Intelligence (AI) with Internet of Things (IoT) generation. While dealmaking on this area experienced good sized growth in 2021 and 2022, there has been a transient pause in pastime. Notably, the emergence of generative artificial intelligence (AI) has impacted deal momentum inside the Internet of Things (IoT) area in Europe and Israel.
IoT Analytics Key Market Trends
- Rising emphasis on edge analytics: The growing emphasis on aspect analytics, where facts processing takes place towards the source of era, enhancing actual-time insights and decreasing latency. Another vast fashion is the integration of artificial intelligence (AI) and Machine learning (ML) into IoT analytics answers, making an allowance for greater advanced and predictive statistics evaluation.
IoT Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global IoT Analytics market analysis well-knownshows a dynamic market with a number of standout traits and difficulties. The marketplace is propelled by using the exponential increase of IoT-generated statistics, using the want for superior analytics. Businesses leverage IoT analytics for operational efficiency and statistics-driven decision-making. However, interoperability demanding situations and statistics safety concerns pose restraints.
The marketplace functions diverse analytics answers, inclusive of predictive and actual-time analytics. North America leads due to technological improvements, whilst Asia-Pacific showcases fast increase. Key trends encompass the mixing of AI and part analytics, catering to evolving business demands in this dynamic landscape.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.62 billion |
| Market size value in 2031 | USD 2.63 billion |
| Growth Rate | 5.52% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on IoT Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on IoT Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the IoT Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the IoT Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the IoT Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the IoT Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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