Market Research Future (MRFR) has published a cooked research report on the “IoT Analytics Market” that contains information from 2022 to 2030. The Global IoT Analytics Market is estimated to register a CAGR of 24.63% during the forecast period of 2022 to 2030.
MRFR recognizes the following companies as the key players in the Global IoT Analytics Market— Amazon Web Services Inc., Google Inc., IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Dell Technologies Inc., Cisco Systems Inc., HP Enterprise Company and PTC Inc.
The Global IoT Analytics Market is accounted to register a CAGR of 24.63% during the forecast period and is estimated to reach USD 92.46 Billion by 2030.
The IoT Analytics market refers to the industry that focuses on collecting, analyzing, and deriving insights from the massive amount of data generated by Internet of Things (IoT) devices. IoT devices are connected to the internet and can gather and transmit data from various sources, such as sensors, machines, vehicles, and consumer devices.
The market for IoT Analytics is driven by the increasing adoption of IoT devices across various industries, including manufacturing, healthcare, transportation, agriculture, energy, and smart cities. The growing volume and complexity of IoT data require sophisticated analytics solutions to unlock its full potential.
The global IoT Analytics Market has been segmented based on component and end use.
On the basis of component, the market is segmented into platform and solution and services. The solution is categorized into real time streaming analytics and security. The platform is expected to grow to raise the demand for effective platform for downstream data servers and enterprise application connectivity.
Based on end use, the IoT analytics Market has been segmented into agriculture, BFSI, healthcare, government, retail and manufacturing. The agriculture segment is predicted to raise demand for field based sensor and equipment.
The IoT Analytics Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe IoT Analytics Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The IoT Analytics Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World IoT Analytics Market comprises of Middle East, Africa, and Latin America.
North America is one of the leading regions in the IoT Analytics market. The presence of a well-established IoT ecosystem, technological advancements, and the adoption of IoT across industries drive the demand for analytics solutions. The United States, in particular, is a major contributor to the market with a strong presence of IoT solution providers and advanced analytics capabilities.
Europe is another significant region in the IoT Analytics market. The European Union's focus on digital transformation and Industry 4.0 initiatives also fuels the growth of the IoT Analytics market in the region.
The Asia Pacific region has witnessed rapid growth in the IoT Analytics market due to the increasing adoption of IoT technologies and digital transformation initiatives across industries.
Furthermore, the rest of the world's IoT Analytics Market is divided into the Middle East, Africa, and Latin America. Latin America is experiencing steady growth in the IoT Analytics market. The demand for analytics solutions to leverage IoT data for operational efficiency and business insights is driving market growth in the region.
Key Findings of the Study