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    Connected Device Analytic Market

    ID: MRFR/ICT/27019-HCR
    128 Pages
    Ankit Gupta
    October 2025

    Connected Device Analytic Market Research Report: By Solution (Analytics Software, Analytics Services), By Deployment Model (Cloud-based, On-premises), By Application (Predictive Maintenance, Performance Optimization, Risk Assessment, Fraud Detection), By End User Industry (Manufacturing, Energy & Utilities, Transportation & Logistics, Healthcare) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

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    Connected Device Analytic Market Infographic

    Connected Device Analytic Market Summary

    As per MRFR analysis, the Connected Device Analytic Market was estimated at 7.718 USD Billion in 2024. The Connected Device Analytic industry is projected to grow from 8.987 USD Billion in 2025 to 41.15 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 16.43 during the forecast period 2025 - 2035.

    Key Market Trends & Highlights

    The Connected Device Analytic Market is experiencing robust growth driven by technological advancements and increasing demand for real-time insights.

    • The rise of edge computing is transforming data processing capabilities across various industries.
    • North America remains the largest market, while Asia-Pacific is emerging as the fastest-growing region in connected device analytics.
    • Analytics software continues to dominate the market, whereas analytics services are witnessing the fastest growth due to evolving customer needs.
    • The surge in IoT adoption and the growing demand for real-time analytics are key drivers propelling market expansion.

    Market Size & Forecast

    2024 Market Size 7.718 (USD Billion)
    2035 Market Size 41.15 (USD Billion)
    CAGR (2025 - 2035) 16.43%

    Major Players

    IBM (US), Microsoft (US), Cisco (US), SAP (DE), Oracle (US), Siemens (DE), GE (US), Honeywell (US), PTC (US)

    Connected Device Analytic Market Trends

    The Connected Device Analytic Market is currently experiencing a transformative phase, driven by the increasing integration of smart devices across various sectors. Organizations are increasingly leveraging data analytics to derive insights from the vast amounts of information generated by connected devices. This trend appears to be fostering enhanced decision-making processes, operational efficiencies, and improved customer experiences. As businesses recognize the potential of data-driven strategies, the demand for sophisticated analytic tools is likely to rise, indicating a shift towards more proactive and informed management practices. Moreover, the proliferation of Internet of Things (IoT) technologies is reshaping the landscape of the Connected Device Analytic Market. Companies are investing in advanced analytics solutions to harness real-time data, which may lead to innovative applications in areas such as predictive maintenance, supply chain optimization, and personalized marketing. This evolution suggests that organizations are not only focusing on data collection but are also prioritizing the analysis and interpretation of that data to gain a competitive edge. As the market continues to mature, it is expected that new players will emerge, further diversifying the ecosystem and enhancing the overall value proposition of connected device analytics.

    Rise of Edge Computing

    The Connected Device Analytic Market is witnessing a notable shift towards edge computing. This trend suggests that data processing is increasingly occurring closer to the source of data generation, rather than relying solely on centralized cloud systems. By enabling real-time analytics at the edge, organizations can enhance responsiveness and reduce latency, which may lead to more efficient operations.

    Increased Focus on Data Security

    As the Connected Device Analytic Market expands, there is a growing emphasis on data security and privacy. Organizations are becoming more aware of the potential risks associated with data breaches and are investing in robust security measures. This trend indicates a proactive approach to safeguarding sensitive information, which is crucial for maintaining consumer trust.

    Integration of Artificial Intelligence

    The integration of artificial intelligence (AI) into the Connected Device Analytic Market is becoming increasingly prevalent. AI technologies are being utilized to automate data analysis, uncover patterns, and generate actionable insights. This trend suggests that organizations are seeking to enhance their analytic capabilities, potentially leading to more informed decision-making and strategic planning.

    The increasing interconnectivity of devices is driving a paradigm shift in data analytics, enabling organizations to harness real-time insights for enhanced operational efficiency and decision-making.

    U.S. Department of Commerce

    Connected Device Analytic Market Drivers

    Surge in IoT Adoption

    The Connected Device Analytic Market is experiencing a notable surge in the adoption of Internet of Things (IoT) devices across various sectors. As organizations increasingly integrate IoT technologies into their operations, the demand for analytics solutions that can process and interpret the vast amounts of data generated by these devices is rising. According to recent estimates, the number of connected devices is projected to reach over 30 billion by 2030, creating a substantial need for effective data analytics. This trend is likely to drive innovation in the Connected Device Analytic Market, as companies seek to harness real-time insights to enhance operational efficiency and customer experiences.

    Advancements in Machine Learning

    Advancements in machine learning technologies are playing a crucial role in shaping the Connected Device Analytic Market. As machine learning algorithms become more sophisticated, they enable organizations to derive deeper insights from the data generated by connected devices. This capability not only enhances predictive analytics but also improves the accuracy of data interpretation. The integration of machine learning into analytics solutions is expected to drive market growth, as businesses increasingly seek to leverage these technologies to optimize operations and enhance customer experiences. The Connected Device Analytic Market is likely to witness a surge in demand for machine learning-driven analytics tools.

    Expansion of Smart Cities Initiatives

    The Connected Device Analytic Market is significantly influenced by the expansion of smart cities initiatives worldwide. As urban areas increasingly adopt smart technologies to improve infrastructure, transportation, and public services, the need for sophisticated analytics solutions becomes paramount. These initiatives often involve the deployment of numerous connected devices, generating vast amounts of data that require effective analysis. Reports indicate that investments in smart city projects are expected to exceed 1 trillion dollars by 2025, highlighting the potential for growth in the Connected Device Analytic Market as cities seek to leverage data for improved governance and citizen engagement.

    Growing Demand for Real-Time Analytics

    In the Connected Device Analytic Market, there is a growing demand for real-time analytics capabilities. Organizations are increasingly recognizing the value of immediate insights derived from connected devices, which can facilitate timely decision-making and operational adjustments. The ability to analyze data as it is generated allows businesses to respond swiftly to market changes and customer needs. This trend is underscored by the fact that nearly 70% of enterprises are prioritizing real-time data analytics in their strategic initiatives. As a result, the Connected Device Analytic Market is likely to see a proliferation of solutions that offer enhanced real-time processing capabilities.

    Increased Regulatory Compliance Requirements

    The Connected Device Analytic Market is also being shaped by increased regulatory compliance requirements across various sectors. Organizations are facing mounting pressure to ensure data privacy and security, particularly in industries such as healthcare and finance. Compliance with regulations such as GDPR and CCPA necessitates robust analytics solutions that can monitor and manage data usage effectively. This trend is prompting businesses to invest in advanced analytics capabilities that not only meet compliance standards but also enhance data governance. As a result, the Connected Device Analytic Market is likely to see a rise in demand for solutions that address these regulatory challenges.

    Market Segment Insights

    By Solution: Analytics Software (Largest) vs. Analytics Services (Fastest-Growing)

    In the Connected Device Analytic Market, the distribution of market share is significantly tilted towards Analytics Software, which continues to dominate the landscape due to its robust capabilities in delivering insightful data analytics and performance metrics. This segment holds a substantial portion of the market as organizations increasingly rely on software solutions to harness the data generated by connected devices and derive actionable insights.

    Analytics Software (Dominant) vs. Analytics Services (Emerging)

    The Analytics Software segment stands out as the dominant force in the Connected Device Analytic Market, offering solutions that enhance data collection, processing, and analysis, which are essential for optimizing operational efficiency. These software tools are highly sought after for their ability to integrate seamlessly with existing systems and leverage machine learning algorithms for predictive analytics. Conversely, the Analytics Services segment, while still emerging, is growing rapidly as businesses seek consultancy and expert support to effectively deploy and utilize analytics solutions. This segment thrives on the increasing complexity of data environments, prompting organizations to turn to service providers for tailored strategies and implementation guidance.

    By Deployment Model: Cloud-based (Largest) vs. On-premises (Fastest-Growing)

    In the Connected Device Analytic Market, the deployment model segment is primarily divided into cloud-based and on-premises solutions. Currently, cloud-based deployment holds the majority of market share due to its scalability, flexibility, and ease of integration with various devices. Organizations are increasingly opting for cloud-based solutions to leverage advanced analytics and real-time data processing, ensuring a seamless connection with connected devices.

    Deployment Model: Cloud-based (Dominant) vs. On-premises (Emerging)

    Cloud-based deployment is characterized by its accessibility, allowing users to access advanced analytics tools and data insights from anywhere, enhancing operational efficiency. This model supports vast amounts of data and offers high scalability, making it suitable for businesses aiming for rapid growth. Conversely, on-premises solutions are experiencing significant growth as organizations seek increased data control and security. Companies handling sensitive information often prefer on-premises settings. This emerging preference reflects a shift towards customized analytics solutions that align with specific security protocols, driving innovation in the deployment model landscape.

    By Application: Predictive Maintenance (Largest) vs. Fraud Detection (Fastest-Growing)

    In the Connected Device Analytic Market, the application segment showcases distinct market shares among Predictive Maintenance, Performance Optimization, Risk Assessment, and Fraud Detection. Predictive Maintenance leads the market, capitalizing on the growing need for proactive maintenance approaches across various industries. Following this, Performance Optimization and Risk Assessment hold significant positions but remain overshadowed by Predictive Maintenance's extensive adoption. Fraud Detection, while smaller in present market share, displays remarkable potential for rapid growth, driven by the increasing relevance of cybersecurity in connected environments.

    Performance Optimization (Dominant) vs. Risk Assessment (Emerging)

    Performance Optimization stands out as a dominant application in the Connected Device Analytic Market, enabling businesses to enhance operational efficiency and maximize resource utilization. This segment is characterized by real-time data analytics that informs strategic decisions and improvements. On the other hand, Risk Assessment serves as an emerging application, gaining traction as organizations increasingly recognize the importance of anticipating potential risks associated with connected devices. This growth is fueled by heightened awareness of vulnerabilities in digital ecosystems, prompting companies to invest more in robust risk management solutions.

    By End User Industry: Manufacturing (Largest) vs. Healthcare (Fastest-Growing)

    In the Connected Device Analytic Market, the End User Industry segment is notably dominated by the Manufacturing sector, which captures a significant share of the market. This is primarily due to the widespread implementation of IoT devices in factories and the increasing need for real-time analytics to optimize production processes. On the other hand, Healthcare has emerged as a crucial player in this segment, driven by the rising adoption of connected health technologies and the increasing emphasis on patient-centric care that leverages data-driven insights.

    Manufacturing: Dominant vs. Healthcare: Emerging

    The Manufacturing sector within the Connected Device Analytic Market stands out as a dominant force, characterized by a robust integration of advanced analytics and IoT technology. This industry utilizes connected devices to enhance operational efficiency, reduce downtime, and facilitate predictive maintenance, making it a primary adopter of connected analytics. In stark contrast, the Healthcare sector is classified as an emerging player, rapidly evolving due to the necessity for efficient patient monitoring and data management systems. As healthcare organizations increasingly harness connected devices for telehealth, remote monitoring, and health data analysis, this sector is experiencing rapid growth, fostering innovations that enhance patient outcomes and operational effectiveness.

    Get more detailed insights about Connected Device Analytic Market

    Regional Insights

    North America : Innovation and Leadership Hub

    North America leads the Connected Device Analytic Market, driven by rapid technological advancements and a strong focus on IoT integration. The region holds approximately 45% of the global market share, with the United States being the largest contributor, followed by Canada at around 15%. Regulatory support for data privacy and security further fuels market growth, encouraging businesses to adopt connected analytics solutions. The competitive landscape is robust, featuring key players like IBM, Microsoft, and Cisco, which are at the forefront of innovation. The presence of these tech giants fosters a dynamic ecosystem, promoting collaboration and investment in connected device analytics. As organizations increasingly leverage data for decision-making, the demand for advanced analytics solutions continues to rise, solidifying North America's position as a market leader.

    Europe : Emerging Market with Regulations

    Europe is witnessing significant growth in the Connected Device Analytic Market, driven by stringent regulations and a focus on data protection. The region accounts for approximately 30% of the global market share, with Germany and the UK being the largest markets, holding around 10% and 8% respectively. The EU's General Data Protection Regulation (GDPR) has catalyzed the adoption of analytics solutions, ensuring compliance and enhancing consumer trust. Leading countries in Europe are investing heavily in IoT and connected technologies, with companies like SAP and Siemens leading the charge. The competitive landscape is characterized by a mix of established players and innovative startups, fostering a vibrant ecosystem. As businesses seek to optimize operations and enhance customer experiences, the demand for connected device analytics is expected to grow, further solidifying Europe's market position.

    Asia-Pacific : Rapid Growth and Adoption

    Asia-Pacific is rapidly emerging as a powerhouse in the Connected Device Analytic Market, driven by increasing smartphone penetration and IoT adoption. The region holds approximately 20% of the global market share, with China and Japan leading the way, contributing around 10% and 5% respectively. Government initiatives promoting smart cities and digital transformation are significant growth catalysts, encouraging businesses to invest in connected analytics solutions. The competitive landscape is diverse, with a mix of local and international players. Companies like GE and Honeywell are expanding their presence in the region, capitalizing on the growing demand for advanced analytics. As organizations increasingly recognize the value of data-driven insights, the market is poised for substantial growth, making Asia-Pacific a key player in the global landscape.

    Middle East and Africa : Untapped Potential and Growth

    The Middle East and Africa region is an emerging market for the Connected Device Analytic Market, characterized by untapped potential and increasing investments in technology. The region holds approximately 5% of the global market share, with countries like South Africa and the UAE leading the charge. Government initiatives aimed at digital transformation and smart city projects are driving demand for connected analytics solutions, creating new opportunities for growth. The competitive landscape is evolving, with both local and international players entering the market. Companies are focusing on developing tailored solutions to meet the unique needs of the region. As awareness of the benefits of connected device analytics grows, the market is expected to expand, positioning the Middle East and Africa as a significant player in the global arena.

    Key Players and Competitive Insights

    The Connected Device Analytic Market is currently characterized by a dynamic competitive landscape, driven by rapid technological advancements and increasing demand for data-driven insights. Major players such as IBM (US), Microsoft (US), and Cisco (US) are strategically positioning themselves through innovation and partnerships, thereby enhancing their operational focus. IBM (US) emphasizes its cloud-based analytics solutions, while Microsoft (US) leverages its Azure platform to integrate IoT capabilities. Cisco (US) is enhancing its security offerings, which is crucial in a market where data privacy is paramount. Collectively, these strategies not only bolster their market presence but also shape a competitive environment that is increasingly reliant on technological integration and customer-centric solutions.

    In terms of business tactics, companies are increasingly localizing manufacturing and optimizing supply chains to enhance efficiency and responsiveness. The market structure appears moderately fragmented, with a mix of established players and emerging startups. This fragmentation allows for diverse offerings, yet the collective influence of key players like Oracle (US) and SAP (DE) remains significant, as they continue to set industry standards through their comprehensive analytics platforms.

    In August 2025, IBM (US) announced a strategic partnership with a leading telecommunications provider to enhance its IoT analytics capabilities. This collaboration aims to integrate advanced AI algorithms into their analytics suite, thereby improving real-time data processing and decision-making for clients. The strategic importance of this move lies in IBM's commitment to staying at the forefront of IoT innovation, which is essential for maintaining competitive advantage in a rapidly evolving market.

    Similarly, in September 2025, Microsoft (US) launched a new suite of analytics tools designed specifically for smart cities. This initiative reflects Microsoft's focus on urban development and sustainability, aligning with global trends towards smarter infrastructure. The strategic significance of this launch is profound, as it positions Microsoft as a leader in providing solutions that address urban challenges, thereby expanding its market reach and reinforcing its commitment to sustainable development.

    In October 2025, Cisco (US) unveiled a new cybersecurity framework tailored for connected devices, emphasizing the importance of security in analytics. This framework is designed to protect data integrity and privacy, which are critical concerns for businesses leveraging connected devices. The strategic relevance of this initiative cannot be overstated, as it not only enhances Cisco's product offerings but also addresses a growing market demand for secure analytics solutions.

    As of October 2025, current competitive trends in the Connected Device Analytic Market are heavily influenced by digitalization, sustainability, and AI integration. Strategic alliances are increasingly shaping the landscape, allowing companies to pool resources and expertise to drive innovation. Looking ahead, competitive differentiation is likely to evolve from traditional price-based competition to a focus on technological innovation, reliability in supply chains, and the ability to deliver tailored solutions that meet specific customer needs.

    Key Companies in the Connected Device Analytic Market market include

    Industry Developments

    • Q2 2024: Cisco acquires cloud analytics startup Splunk for $28 billion Cisco completed its acquisition of Splunk, a leader in data analytics for connected devices and IoT, aiming to strengthen its security and analytics capabilities for enterprise networks.
    • Q2 2024: Siemens launches new MindSphere analytics suite for industrial IoT Siemens announced the launch of its upgraded MindSphere analytics platform, designed to provide advanced real-time analytics for connected industrial devices and support predictive maintenance.
    • Q1 2024: Microsoft and Schneider Electric announce strategic partnership for IoT analytics Microsoft and Schneider Electric entered a partnership to co-develop analytics solutions for connected devices in energy management, leveraging Azure IoT and Schneider’s EcoStruxure platform.
    • Q2 2024: IBM unveils Watson IoT Analytics Edge for manufacturing sector IBM launched Watson IoT Analytics Edge, a new product enabling manufacturers to process and analyze data from connected devices directly at the edge, improving operational efficiency.
    • Q3 2024: SAP acquires IoT analytics firm Seeq to expand industrial cloud offerings SAP announced the acquisition of Seeq, a provider of advanced analytics for connected industrial devices, to enhance its industrial cloud and IoT analytics portfolio.
    • Q2 2024: PTC launches ThingWorx Analytics 9.5 for real-time device monitoring PTC released ThingWorx Analytics 9.5, featuring improved real-time monitoring and predictive analytics for connected devices in manufacturing and logistics.
    • Q1 2025: Google Cloud wins major contract with Ford for connected vehicle analytics Google Cloud secured a multi-year contract with Ford to provide analytics services for connected vehicles, focusing on real-time data processing and predictive maintenance.
    • Q2 2025: AWS launches IoT Analytics Pro with enhanced AI capabilities Amazon Web Services introduced IoT Analytics Pro, a new platform offering advanced AI-driven analytics for connected devices, targeting enterprise IoT deployments.
    • Q1 2024: Armis raises $150M to expand connected device security analytics Armis, a cybersecurity firm specializing in analytics for connected devices, closed a $150 million funding round to accelerate product development and global expansion.
    • Q3 2024: Oracle launches IoT Analytics Cloud for smart city deployments Oracle announced the launch of IoT Analytics Cloud, a new solution designed to provide real-time analytics for connected devices in smart city infrastructure projects.
    • Q2 2025: Hitachi opens new IoT analytics R&D center in Singapore Hitachi inaugurated a new research and development center in Singapore focused on developing advanced analytics solutions for connected devices in urban and industrial environments.
    • Q1 2025: GE Digital secures contract with Shell for connected device analytics in energy operations GE Digital won a contract with Shell to deploy its connected device analytics platform across Shell’s global energy operations, aiming to optimize asset performance and predictive maintenance.

    Future Outlook

    Connected Device Analytic Market Future Outlook

    The Connected Device Analytic Market is projected to grow at a 16.43% CAGR from 2024 to 2035, driven by advancements in IoT technology, data analytics, and increased demand for real-time insights.

    New opportunities lie in:

    • Development of AI-driven predictive maintenance solutions
    • Integration of analytics in smart home devices
    • Expansion of analytics services for wearable health technology

    By 2035, the market is expected to be robust, driven by innovation and widespread adoption.

    Market Segmentation

    Connected Device Analytic Market Solution Outlook

    • Analytics Software
    • Analytics Services

    Connected Device Analytic Market Application Outlook

    • Predictive Maintenance
    • Performance Optimization
    • Risk Assessment
    • Fraud Detection

    Connected Device Analytic Market Deployment Model Outlook

    • Cloud-based
    • On-premises

    Connected Device Analytic Market End User Industry Outlook

    • Manufacturing
    • Energy Utilities
    • Transportation Logistics
    • Healthcare

    Report Scope

    MARKET SIZE 20247.718(USD Billion)
    MARKET SIZE 20258.987(USD Billion)
    MARKET SIZE 203541.15(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR)16.43% (2024 - 2035)
    REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR2024
    Market Forecast Period2025 - 2035
    Historical Data2019 - 2024
    Market Forecast UnitsUSD Billion
    Key Companies ProfiledMarket analysis in progress
    Segments CoveredMarket segmentation analysis in progress
    Key Market OpportunitiesIntegration of artificial intelligence enhances predictive analytics in the Connected Device Analytic Market.
    Key Market DynamicsRising demand for real-time data analytics drives innovation and competition in the Connected Device Analytic Market.
    Countries CoveredNorth America, Europe, APAC, South America, MEA

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    FAQs

    What is the current valuation of the Connected Device Analytic Market?

    The market valuation was 7.718 USD Billion in 2024.

    What is the projected market size for the Connected Device Analytic Market by 2035?

    The market is projected to reach 41.15 USD Billion by 2035.

    What is the expected CAGR for the Connected Device Analytic Market during the forecast period?

    The expected CAGR for the market from 2025 to 2035 is 16.43%.

    Which companies are considered key players in the Connected Device Analytic Market?

    Key players include IBM, Microsoft, Cisco, SAP, Oracle, Siemens, GE, Honeywell, and PTC.

    What are the main segments of the Connected Device Analytic Market?

    The main segments include Solutions, Deployment Models, Applications, and End User Industries.

    How much is the Analytics Software segment valued at in 2024?

    The Analytics Software segment was valued at 3.5 USD Billion in 2024.

    What is the projected value of the Analytics Services segment by 2035?

    The Analytics Services segment is projected to reach 22.66 USD Billion by 2035.

    What is the value of the Cloud-based deployment model in 2024?

    The Cloud-based deployment model was valued at 4.5 USD Billion in 2024.

    Which application segment is expected to grow the most by 2035?

    The Fraud Detection application segment is projected to reach 16.15 USD Billion by 2035.

    What is the projected value of the Healthcare end user industry segment by 2035?

    The Healthcare end user industry segment is projected to reach 17.7 USD Billion by 2035.

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