The Data Historian Market is estimated to reach USD 1,406.23 million by 2024, registering a CAGR of 6.9% during the forecast period of 2019–2024.
Data historian is a type of software program which is used to record the data of an enterprise, a manufacturing unit or any production unit on a regular basis. Data historian has the capability to store the recorded data sets in the time series database by occupying minimal disk space and allow the user to retrieve the data with minimum efforts and time. The times series database allows the operators to understand the previous functioning of the machines, systems, devices, and other parameters including their performance during the production process. One of the major factors driving the growth of data historian market is that there has been increasing production of different materials, products, and other devices from various industries such as automotive, oil & gas, metal, energy & power, and food & beverages among others, that generates large volume of data on a regular basis. Further, utilization of various IoT devices by these industries for sharing of information within the manufacturing unit and with other units located in different geography to analyze the functionality and production is accelerating the market growth. Therefore, the data historian software has become a necessity for the companies for analyzing the previous functioning and improving the efficiency of production for the upcoming years.
The data historian market has been segmented based on component, deployment, organization size, application, time series database type, end user, and region.
By component, the data historian market has been segmented into software and services. The service segment has been further segmented as managed services and professional services.
By deployment, the data historian market has been segmented into cloud-based and on-premise
By organization size, the data historian market has been segmented into large enterprises and SMEs.
By application, the data historian market has been segmented into production tracking, environmental auditing, asset performance management, predictive maintenance, and others.
By time series database type, the data historian market has been segmented into operational and open source.
By end-user, the market has been segmented into oil and gas, marine, chemicals and pharmaceuticals, paper and pulp, metals and mining, utilities, data centers, and others
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Data Historian Market, 2017–2024 (USD Billion)
Source: MRFR Website
The global data historian market is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of data historian has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America).
North America held the largest market share in 2018 due to the presence of various key vendors such as General Electric Company, Honeywell International Inc., IBM Corporation, Aspen Technology and others which provide various software solutions and services to enterprises and industries for analyzing their previous data efficiently. Additionally, North America has been the earliest adopter of data historian software program and advanced technologies in the region, which is one of the factors driving the market.
MRFR recognizes the key players in the global data historian market as ABB Limited (Sweden), AVEVA Group (UK), General Electric Company (US), Honeywell International Inc. (US), IBM Corporation (US), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Aspen Technology (US), Emerson Electric Co. (US), PTC Inc. (US), Rockwell Automation, Inc. (US), ICONICS (US), OSIsoft, LLC (US), Automsoft International Ltd (Ireland), Canary Labs, Inc. (US), and COPA-DATA GmbH (Austria) among others.
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
|Market Size||USD 1575.45 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Size|
|Geographies Covered||North America, Europe, Asia-Pacific|
|Key Vendors||ABB Limited (Sweden) AVEVA Group (UK) General Electric Company (US) Honeywell International Inc. (US) IBM Corporation (US) Siemens AG (Germany) Yokogawa Electric Corporation (Japan) Aspen Technology (US) Emerson Electric Co. (US) PTC Inc. (US) Rockwell Automation Inc. (US) ICONICS (US)|
|Key Market Opportunities|
|Key Market Drivers||Data historian has the capability to store the recorded data sets|
The growth rate of the market in the coming years can be 6.9%.
The market can achieve a valuation of USD 1,406.23 million by 2024.
The top-performing players in the market include OSIsoft, LLC (US), AVEVA Group (UK), Yokogawa Electric Corporation (Japan), Honeywell International Inc. (US), PTC Inc. (US), Rockwell Automation, Inc. (US), Aspen Technology (US), General Electric Company (US), ABB Limited (Sweden), Emerson Electric Co. (US), ICONICS (US), Canary Labs, Inc. (US), Automsoft International Ltd (Ireland), IBM Corporation (US), Siemens AG (Germany), COPA-DATA GmbH (Austria), and others.
Many of the players are constantly innovating their products and are investing massively in research and development. They are also adopting marketing hacks like mergers and acquisitions to induce business growth.
North America is the leading market on account of the high concentration of renowned vendors like Honeywell International Inc., General Electric Company, Aspen Technology and IBM Corporation, among others. The region is also known for being an early adopter the latest technologies, which also benefits the market.