IoT Analytics Market Size, Revenue Share, Current Market Trends, By Component (Software And Services), By Analytics Type (Predictive Analytics, Prescriptive Analytics, And Descriptive Analytics), By Organization Size, By Deployment Mode, By End Use, And By Region, Forecast To 2028

Description

The global IoT analytics market size was USD 16.29 Billion in 2020 and is expected to reach a value of USD 109.81 Billion by 2028, and register a CAGR of 26.70% during the forecast period. IoT data analytics is the analysis of vast data volumes generated by connected devices, and organizations can derive various benefits such as optimize operations, automatically control processes, engage more customers, and empower employees.

IoT analytics is an ideal option to run on IoT data to gain insights to enable more accurate decision making for IoT applications and machine learning. IoT data is quite unstructured, which makes it challenging to analyze with traditional analytics and business intelligence tools designed to process structured data. Large amount of IoT data is generated from devices, which are often recordings of noisy processes such as motion, temperature, or loud sounds. The data gathered from such devices have significant gaps, false readings, and corrupted messages that need to be cleaned up before analysis.

Drivers:

IoT analytics is time-efficient and offers real-time solutions to enterprises to enable a clearer understanding of products and solutions and have access to more detailed information to analyze consumer choices. Increasing adoption of connected devices is also driving demand for IoT analytics to a significant extent. Growth of the ecosystem is encouraging enterprises to develop platforms and services to predict, manage, and optimize their respective business solutions.

Rapidly increasing sales of smart products such as smart televisions, smart watches, smart speakers, and others is expected to generate large volumes of data, which is further expected to increase the need for IoT analytics in future. An increasing number of electronics manufacturing companies are deploying smart sensors in products they offer in order to collect data related or associated with various activities conducted by consumers, which is then analyzed using IoT analytics to extract valuable insights. The vast volumes of data collected are used to improve work efficiency owing to increasing focus on time and cost management, rapid proliferation of automation technologies, need for real-time data access, and emergence of more advanced technologies.

Rapid traction of the Internet of Things and emergence of new and more advanced technologies has been resulting in increasing deployment of data analytics in the agriculture sector to enhance operational efficiency and productivity in farms. IoT analytics is also used in soil monitoring applications and to enrich moisture sensor data to optimize water efficiency of automated irrigation equipment and systems.

Restraints:

Concerns regarding processing and ownership of large volume of data collected is a key factor expected to hamper market growth to some extent.

Market Insights:

Component Outlook:

Among the component segments, the services segment is expected to register a significantly high CAGR during the forecast period. IoT analytics is a fully-managed services that make it easier to deploy and run analytics on large data volumes.

Analytics Type Outlook:

Among the analytics type segments, the prescriptive analytics segment is projected to register a relatively steady CAGR during the forecast period. Adoption of prescriptive analytics is lower than predictive analytics, and increasing adoption of IoT is supporting demand for prescriptive analytics to a significant extent. Predictions generated using analytics are transformed into a set of recommended actions that generate business value.

Organization Size Outlook:

Among the organization size segments, the small and medium enterprises (SMEs) accounted for significantly large revenue share in 2020. SMEs do not offer the same options as large corporations when it comes to implementation of IoT technology, as these type of organizations lack human and financial resources to create new digital and IoT-based solutions.

Deployment Mode Outlook:

Growing adoption of cloud-based technology is resulting in reduced dependence on on-premise deployment. The on-premise segment is expected to register a robust CAGR during the forecast period.

End Use Outlook:

Telecommunications and IT sectors are projected to register a robust double-digit CAGR during the forecast period. High demand for these solutions, especially from countries in Asia Pacific, is another factor expected to continue to support global market growth. Robust presence of IT companies in countries such as China, Japan, India, and Singapore is a factor propelling demand for IoT analytics.

Region Outlook:

The North America IoT analytics market is expected to account for considerably high revenue share over the forecast period, which can be attributed to increasing activities in various sectors such as construction and infrastructure, mining, and others.

Asia Pacific market is projected to register the highest CAGR in terms of revenue over the forecast period. Increasing infrastructure development projects, rising demand for cloud solutions, and growing adoption of IoT devices and other technologies that generate large data volumes are resulting in need for analyzing data, which is a key factor driving growth of the Asia Pacific IoT analytics market.

Companies considered and profiled in this market study

Microsoft Corporation, IBM Corporation, Cisco Systems, Inc., Amazon Web Services, Oracle Corporation, Dell Technologies Inc., Hitachi Ltd., Salesforce.Com, Inc., PTC Inc., Mnubo (Aspen Technology Inc.), and Google LLC. Companies are adopting various strategies, including mergers, acquisitions, and partnerships to stay ahead of competitions, and are focusing on development and introduction of new solutions in the market. 

In November 2019 for instance, IBM Company launched Maximo Asset Monitor, which is an AI-based monitoring solution designed for asset maintenance at enterprise scale, and to understand and optimize operating performance. This enhanced solution is expected to offer essential insights using AI for detection of causes for operational failure and offer clear visibility into vital equipment performance.

In November 2019, Amazon Web Services (AWS) announced that it will be adding updates for Alexa Voice Service as well to edge services, IoT Greengrass. In addition, AWS secured IoT device management as well as added new capabilities for IoT analytics, which will allow easier management of novel devices.

In March 2018, IBM Corporation launched IoT cloud platform, which contains features of public cloud for the data center. This is expected to analyze consumer needs and increase number of loyal consumers and open up high revenue opportunities for the company.

Segments covered in the report:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each segment from 2018 to 2028. The global IoT analytics market report includes market size, market share, ongoing industry trends, market revenue or revenue share contributed by each regional market, and each of the segments. In addition, the report offers industry analysis in terms of revenue growth opportunities for existing as well as entry level players.

The report includes a detailed overview of the global IoT analytics market, along with changing dynamics and trends, scenarios, recalls, detailed market and regional segmentation, regional landscape, analysis and evaluation or revenues and investments, and details of historical, current, and projected revenue. Also, recent trends, DROT, and related developments in the global IoT analytics market are included. Competitive landscape includes revenue share, financials, and various strategies adopted by key players in the market along with product offerings.

For the purpose of this report, Reports and Data has segmented the global IoT analytics market on the basis of component, analytics type, organization size, deployment mode, end-use, and region.

Component Outlook (Revenue, USD Billion; 2018 – 2028)  

  • Software

  • Services

Analytics Outlook (Revenue, USD Billion; 2018 – 2028)

  • Predictive Analytics

  • Prescriptive Analytics

  • Descriptive Analytics

Organization Size Outlook (Revenue, USD Billion; 2018 – 2028)

  • Small and Medium enterprises

  • Large Enterprises

Deployment Mode Outlook (Revenue, USD Billion; 2018 – 2028)

  • Cloud

  • On-Premise

End Use Outlook (Revenue, USD Billion; 2018 – 2028)

  • Retail

  • Manufacturing

  • Healthcare

  • Government and Defense

  • Energy and Utilities

  • Transportation & Logistics

  • Telecommunications & IT

  • Others

Region Outlook (Revenue, USD Billion; 2018 – 2028)  

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Benelux

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Rest of Latin America

  • Middle East and Africa

    • Saudi Arabia

    • UAE

    • South Africa

    • Rest of Middle East & Africa

Covered Key Topics

Growth Opportunities Market Growth Drivers
Leading Market Players Company Market Share
Market Size and Growth Rate Market Trend and Technological

TOC

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020 – 2028

Chapter 3. Indicative Metrics

Chapter 4. IoT Analytics Market Segmentation & Impact Analysis

    4.1. IoT Analytics Market Material Segmentation Analysis

    4.2. Industrial Outlook

         4.2.1. Market indicators analysis

         4.2.2. Market drivers analysis

                 4.2.2.1. Growth in IoT data

                 4.2.2.2. Increase in demand for Advanced Analytics and Automation for Businesses

         4.2.3. Market restraints analysis

                  4.2.3.1. Lack of Real-Time Algorithms

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. ETOP Analysis

    4.6. Porter’s Five Forces Analysis

    4.7. Competitive Metric Space Analysis

    4.8. Price trend Analysis

Chapter 5. IoT Analytics By Component Insights & Trends

    5.1. Component Dynamics & Market Share, 2021 & 2028

    5.2. Software

          5.2.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          5.2.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    5.3. Services

          5.3.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          5.3.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

Chapter 6. IoT Analytics By Analytics Time Insights & Trends

    6.1. Analytics Time Dynamics & Market Share, 2021 & 2028

    6.2. Predictive Analytics

          6.2.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          6.2.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    6.3. Prescriptive Analytics

          6.3.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          6.3.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    6.4. Descriptive Analytics

          6.4.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          6.4.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

Chapter 7. IoT Analytics By Organization Size Insights & Trends

    7.1. Organization Size Dynamics & Market Share, 2021 & 2028

    7.2. Small and Medium enterprises

          7.2.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          7.2.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    7.3. Large Enterprises

          7.3.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          7.3.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

Chapter 8. IoT Analytics By Deployment Mode Insights & Trends

    8.1. Deployment Mode Dynamics & Market Share, 2021 & 2028

    8.2. On-Premises

         8.2.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

         8.2.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    8.3. Cloud

          8.3.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          8.3.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

Chapter 9. IoT Analytics By End Users Insights & Trends

    9.1. End Users Dynamics & Market Share, 2021 & 2028

    9.2. Retail

          9.2.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          9.2.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    9.3. Manufacturing

          9.3.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          9.3.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    9.4. Healthcare

          9.4.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          9.4.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    9.5. Government and Defense

          9.5.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          9.5.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    9.6. Energy and Utilities

          9.6.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          9.6.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    9.7. Transportation & Logistics

          9.7.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          9.7.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    9.8. Telecommunications & IT

          9.8.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          9.8.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

    9.9. Others

          9.9.1. Market estimates and forecast, 2018 – 2028 (USD Billion)

          9.9.2. Market estimates and forecast, By Region, 2018 – 2028 (USD Billion)

Chapter 10. IoT Analytics Market Regional Outlook

    10.1. IoT Analytics Market share By Region, 2021 & 2028

    10.2. North America

           10.2.1. North America IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

           10.2.2. North America IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

           10.2.3. North America IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

           10.2.4. North America IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

           10.2.5. North America IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

           10.2.6. North America IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

           10.2.7. U.S.

                     10.2.7.1. U.S. IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

                     10.2.7.2. U.S. IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

                     10.2.7.3. U.S. IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

                     10.2.7.4. U.S. IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

                     10.2.7.5. U.S. IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

                     10.2.7.6. U.S. IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

    10.3. Europe

            10.3.1. Europe IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

            10.3.2. Europe IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

            10.3.3. Europe IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

            10.3.4. Europe IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

            10.3.5. Europe IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

            10.3.6. Europe IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

            10.3.7. U.K.

                      10.3.7.1. U.K. IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

                      10.3.7.2. U.K. IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

                      10.3.7.3. U.K. IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

                      10.3.7.4. U.K. IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

                      10.3.7.5. U.K. IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

                      10.3.7.6. U.K. IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

            10.3.8. France

                      10.3.8.1. France IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

                      10.3.8.2. France IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

                      10.3.8.3. France IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

                      10.3.8.4. France IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

                      10.3.8.5. France IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

                      10.3.8.6. France IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

    10.4. Asia-Pacific

           10.4.1. Asia-Pacific IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

           10.4.2. Asia-Pacific IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

           10.4.3. Asia-Pacific IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

           10.4.4. Asia-Pacific IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

           10.4.5. Asia-Pacific IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

           10.4.6. Asia-Pacific IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

           10.4.7. China

                     10.4.7.1. China IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

                     10.4.7.2. China IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

                     10.4.7.3. China IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

                     10.4.7.4. China IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

                     10.4.7.5. China IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

                     10.4.7.6. China IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

           10.4.8. India

                     10.4.8.1. India IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

                     10.4.8.2. India IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

                     10.4.8.3. India IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

                     10.4.8.4. India IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

                     10.4.8.5. India IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

                     10.4.8.6. India IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

           10.4.9. Japan

                     10.4.9.1. Japan IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

                     10.4.9.2. Japan IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

                     10.4.9.3. Japan IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

                     10.4.9.4. Japan IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

                     10.4.9.5. Japan IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

                     10.4.9.6. Japan IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

    10.5. Middle East and Africa

           10.5.1. Middle East and Africa IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

           10.5.2. Middle East and Africa IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

           10.5.3. Middle East and Africa IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

           10.5.4. Middle East and Africa IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

           10.5.5. Middle East and Africa IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

           10.5.6. Middle East and Africa IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

    10.6. Latin America

           10.6.1. Latin America IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

           10.6.2. Latin America IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

           10.6.3. Latin America IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

           10.6.4. Latin America IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

           10.6.5. Latin America IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

           10.6.6. Latin America IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

           10.6.7. Brazil

                     10.6.7.1. Brazil IoT Analytics Market estimates and forecast, 2018 – 2028, (USD Billion)

                     10.6.7.2. Brazil IoT Analytics Market estimates and forecast by Component, 2018 – 2028, (USD Billion)

                     10.6.7.3. Brazil IoT Analytics Market estimates and forecast by Analytics Time, 2018 – 2028, (USD Billion)

                     10.6.7.4. Brazil IoT Analytics Market estimates and forecast by Organization Size, 2018 – 2028, (USD Billion)

                     10.6.7.5. Brazil IoT Analytics Market estimates and forecast by Deployment Mode, 2018 – 2028, (USD Billion)

                     10.6.7.6. Brazil IoT Analytics Market estimates and forecast by End-User, 2018 – 2028, (USD Billion)

Chapter 11. Competitive Landscape

    11.1. Market Revenue Share By Manufacturers

    11.2. Manufacturing Cost Breakdown Analysis

    11.3. Mergers & Acquisitions

    11.4. Market positioning

    11.5. Strategy Benchmarking

    11.6. Vendor Landscape

Chapter 12. Company Profiles

    12.1. Microsoft Corporation

            12.1.1. Company Overview

            12.1.2. Financial Performance

            12.1.3. Technology Insights

            12.1.4. Strategic Initiatives

    12.2. IBM

            12.2.1. Company Overview

            12.2.2. Financial Performance

            12.2.3. Technology Insights

            12.2.4. Strategic Initiatives

    12.3. Amazon Web Services

            12.3.1. Company Overview

            12.3.2. Financial Performance

            12.3.3. Technology Insights

            12.3.4. Strategic Initiatives

    12.4. Oracle

            12.4.1. Company Overview

            12.4.2. Financial Performance

            12.4.3. Technology Insights

            12.4.4. Strategic Initiatives

    12.5. Dell Technologies

            12.5.1. Company Overview

            12.5.2. Financial Performance

            12.5.3. Technology Insights

            12.5.4. Strategic Initiatives

    12.6. Hitachi

            12.6.1. Company Overview

            12.6.2. Financial Performance

            12.6.3. Technology Insights

            12.6.4. Strategic Initiatives

    12.7. Salesforce.Com

            12.7.1. Company Overview

            12.7.2. Financial Performance

            12.7.3. Technology Insights

            12.7.4. Strategic Initiatives

    12.8. PTC

            12.8.1. Company Overview

            12.8.2. Financial Performance

            12.8.3. Technology Insights

            12.8.4. Strategic Initiatives

    12.9. Mnubo

            12.9.1. Company Overview

            12.9.2. Financial Performance

            12.9.3. Technology Insights

            12.9.4. Strategic Initiatives

    12.10. Google

             12.10.1. Company Overview

             12.10.2. Financial Performance

             12.10.3. Technology Insights

             12.10.4. Strategic Initiatives

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