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IoT Analytics Market Research Report: Information By Component (Software, Service), By Deployment (On-Premise, On-Cloud), By Type (Predictive Analytics, Prescriptive Analytics ,Descriptive Analytics), By Application (Energy Management, Predictive Maintenance, Asset Management, Inventory Management, Security) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.


ID: MRFR/ICT/1225-HCR | 110 Pages | Author: Shubham Munde| August 2025

IOT Analytics Market Summary

As per Market Research Future Analysis, the IoT Analytics Market is set to experience significant growth, expanding from USD 23.60 billion in 2024 to USD 110.26 billion by 2032, with a CAGR of 21.25% during the forecast period. The market was valued at USD 18.94 billion in 2023, driven by increased health concerns and the rising demand for predictive analytics. The software segment leads the market, while cloud deployment is favored for its scalability and cost-effectiveness. Energy management applications are crucial for enhancing efficiency amidst rising energy costs.

Key Market Trends & Highlights

Key trends driving the IoT Analytics Market include the demand for predictive analytics and the evolution of edge analytics.

  • Market growth from USD 23.60 billion in 2024 to USD 110.26 billion by 2032.
  • Predictive analytics is becoming essential for businesses, leveraging IoT data for forecasts.
  • Energy management applications are increasingly vital due to rising energy costs.
  • North America leads the market, driven by cloud platform adoption and IoT device proliferation.

Market Size & Forecast

2023 Market Size: USD 18.94 Billion
2024 Market Size: USD 23.60 Billion
2032 Market Size: USD 110.26 Billion
CAGR: 21.25%
Largest Regional Market Share in 2022: North America.

Major Players

Key players include 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.

Figure 1:  IoT Analytics Market Size, 2023-2032 (USD Billion)

 IoT Analytics Market Overview 2024

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

IoT Analytics Market Trends

Growing demand for predictive analytics by businesses is driving the market growth

Forecasting has become more important due to the increasing number of devices in the supply chain. It is an important part of determining the intelligence of human users. For example, self-driving cars use the Positioning System (GPS) to deliver packages on time and by the shortest route. GPS uses a predictive algorithm to control the vehicle and choose the shortest route. It determines future results using predictive metrics, historical data, statistical methods, and M2M learning.

Predictive analytics uses the same IoT data that IoT devices use and tunes it to generate forecasts and forecasts. IoT Analytics can handle large amounts of data and create real-time dashboards that render many unusable. Therefore, the need for predictive analytics in business will be a major driver for the loT Analytics Market CAGR.

Additionally, with the evolution of edge analytics, the overall market for IoT Analytics is gaining momentum. Edge analytics differs from video or image analytics, where analytics are applied to smaller devices rather than all data integrated into the enterprise data center. It's not just about performance and scalability. Many business processes do not require extensive analysis; therefore, data collected, processed, and analyzed at the edge or edge can enable automated decision-making. For example, local valves can be closed when a leak is detected. Thus, driving the IoT Analytics market revenue.

IoT Analytics Market Segment Insights

IoT Analytics Component Insights

The IoT Analytics market segmentation, based on components, includes software and services. The software segment dominated the market because software is essential for collecting, storing, and processing IoT data, and software is essential for collecting, storing, and processing IoT data.

Figure 2: IoT Analytics Market, by Component, 2022&2032(USD billion)

 IoT Analytics Market, by Component, 2022&2032

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

IoT Analytics Deployment Insights

Based on deployment, the IoT Analytics market segmentation includes on-premise and on-cloud. The on-cloud segment led the market in 2022. Cloud-based business management software solutions have many advantages over on-premises solutions, such as scalability, flexibility, and cost-effectiveness. The cloud-based solution can scale up or down as needed, making it ideal for businesses with ever-changing IoT data requirements.

IoT Analytics Type Insights

The IoT Analytics market segmentation, based on type, includes predictive analytics, prescriptive analytics, and descriptive analytics. The descriptive analytics segment dominated the market because descriptive analytics is the most basic type of IoT analytics and is used to understand what has happened in the past. And Descriptive analytics is widely used in various industries, including manufacturing, healthcare, and transportation. This makes it a mature market with a large pool of vendors and solutions.

IoT Analytics Application Insights

The IoT Analytics market segmentation, based on Application, includes energy management, predictive maintenance, asset management, inventory management, and security. The energy management segment controls the business because IoT analytics can monitor and improve energy efficiency, resulting in significant benefits. Rising energy costs have made it more interesting for businesses to find ways to reduce their energy use.

IoT Analytics Regional Insights

Segmented by Region, the study provides market insights for North America, Europe, Asia Pacific, and the rest of the world. The North American IoT analytics market will lead due to the growing customer base for cloud-based platforms. Also, cloud platforms are gaining popularity across the Region due to the proliferation of IoT-enabled devices; Increasing R&D investments in this technology will lead to economic growth.

Also, major countries reviewed in the market report include the United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, Australia, Korea, South Korea, and Brazil.

Figure 3: IOT ANALYTICS MARKET SHARE BY REGION 2022 (%)

IOT ANALYTICS MARKET SHARE BY REGION 2022

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe's IoT Analytics market accounts for the second-largest market share due to the industry becoming increasingly linked to big databases. The Internet of Things, in conjunction with big data analytics, can provide various insights, such as diagnostic, descriptive, predictive, and prescriptive analytics. Further, the German IoT Analytics market held the largest market share, and the UK IoT Analytics market was the highest-growing market in the European Region.

The Asia-Pacific IoT Analytics Market is expected to grow fastest from 2023 to 2032. This is due to the increasing number of smart city projects and rising initiatives, such as Smart Wellington (New Zealand).Moreover, China’s IoT Analytics market held the largest market share, and the IndianIoT Analytics market was the highest-growing market in the Asia-Pacific region.

IoT Analytics Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the IoT Analytics market, grow even more. Market participants are also undertaking different strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The IoT Analytics industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the IoT Analytics industry to benefit clients and increase the market sector. In recent years, the IoT Analytics industry has offered some of the most significant advantages to medicine. Major players in the IoT Analytics market, including Amazon Web Services Inc., Google Inc., IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Dell Technologies Inc., Cisco Systems Inc., HP Enterprise Company, PTC Inc., and others, are attempting to rising market demand by investing in research and development operations.

Deloitte Touche Tohmatsu Limited (commonly known as Deloitte) is a British multinational professional services network headquartered in London, England. Deloitte announced Olympus with AWS (Amazon Web Services). Olympus is the world's leading investment provider of cloud solutions and advanced technologies such as IoT, AI, machine learning, 5G, quantum computing, and AR/VR, all in the cloud. Plans to address issues related to food waste, clean energy, access to finance, and more.

Siemens AG is a German multinational technology group. Its activities include automation and digitization of processes and production, smart devices for buildings and distributed energy systems, railway solutions, consumer health technology, and digital health services. With intelligent design capabilities, Siemens has updated the NX software in its Xcelerator portfolio. The update allows the app to use advanced simulation and artificial intelligence to give users an immersive experience.

Key Companies in the IoT Analytics market include

IOT Analytics Industry Developments

  • Q2 2024: Siemens launches new IoT analytics platform for industrial automation Siemens announced the release of its latest IoT analytics platform designed to enhance data-driven decision-making in manufacturing and process industries. The platform integrates AI-powered analytics for real-time monitoring and predictive maintenance.
  • Q2 2024: Uptake raises $30M to expand industrial IoT analytics capabilities Chicago-based Uptake secured $30 million in new funding to accelerate development of its industrial IoT analytics solutions, focusing on predictive maintenance and asset optimization for energy and transportation sectors.
  • Q3 2024: Microsoft and Schneider Electric announce partnership for IoT analytics in energy management Microsoft and Schneider Electric entered a strategic partnership to co-develop IoT analytics solutions targeting energy management and sustainability, leveraging Azure cloud and Schneider’s EcoStruxure platform.
  • Q3 2024: PTC acquires IoT analytics startup Onshape for $80M PTC completed the acquisition of Onshape, a cloud-native IoT analytics startup, to strengthen its industrial IoT portfolio and offer enhanced analytics capabilities for manufacturing clients.
  • Q4 2024: SAP launches new IoT analytics suite for supply chain optimization SAP introduced a new IoT analytics suite aimed at improving supply chain visibility and predictive logistics, integrating real-time tracking and advanced analytics for enterprise customers.
  • Q4 2024: Hitachi Vantara opens new IoT analytics R&D center in Singapore Hitachi Vantara inaugurated a new research and development center in Singapore focused on advancing IoT analytics technologies for smart cities and industrial automation.
  • Q1 2025: IBM wins $100M contract to deploy IoT analytics for European smart grid project IBM secured a $100 million contract to implement IoT analytics solutions for a major European smart grid initiative, aiming to optimize energy distribution and enable predictive maintenance.
  • Q1 2025: AWS announces general availability of IoT Analytics for edge devices Amazon Web Services launched its IoT Analytics service for edge devices, enabling real-time data processing and analytics at the network edge for industrial and commercial applications.
  • Q2 2025: Arundo Analytics appoints new CEO to drive IoT analytics expansion Arundo Analytics named a new chief executive officer to lead the company’s next phase of growth, focusing on expanding its IoT analytics offerings for energy and maritime sectors.
  • Q2 2025: Bosch partners with Google Cloud to enhance IoT analytics for automotive sector Bosch and Google Cloud announced a partnership to integrate advanced IoT analytics into connected vehicle platforms, aiming to improve predictive maintenance and fleet management.
  • Q3 2025: GE Digital launches new IoT analytics platform for utilities GE Digital unveiled a new IoT analytics platform tailored for utility companies, providing real-time monitoring and predictive analytics to improve grid reliability and operational efficiency.
  • Q3 2025: Siemens acquires IoT analytics firm Senseye to boost predictive maintenance solutions Siemens completed the acquisition of Senseye, a UK-based IoT analytics company, to enhance its predictive maintenance and industrial analytics capabilities for global manufacturing clients.

IoT Analytics Market Segmentation

IoT Analytics Component Outlook

    • Software

    • Service

IoT Analytics Deployment Outlook

    • On-Premise

    • On-Cloud

IoT Analytics Type Outlook

    • Predictive Analytics

    • Prescriptive Analytics

    • Descriptive Analytics

IoT Analytics Type Outlook

    • Predictive Analytics

    • Prescriptive Analytics

    • Descriptive Analytics

IoT Analytics Application Outlook

    • Energy Management

    • Predictive Maintenance

    • Asset Management

    • Inventory Management

IoT Analytics Regional Outlook

    • North America
      • US

      • Canada

    • Europe
      • Germany

      • France

      • UK

      • Italy

      • Spain

      • Rest of Europe

    • Asia-Pacific
      • China

      • Japan

      • India

      • Australia

      • South Korea

      • Australia

      • Rest of Asia-Pacific

    • Rest of the World
      • Middle East

      • Africa

      • Latin America

Attribute/Metric Details
Market Size 2023 USD 18.94 billion
Market Size 2024 USD 23.60 billion
Market Size 2032 USD 110.26 billion
Compound Annual Growth Rate (CAGR) 21.25% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Component, Deployment,Type, Application, and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered USA, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Amazon Web Services Inc. Google Inc. IBM Corporation Microsoft Corporation SAP SE Oracle Corporation Dell Technologies Inc. Cisco Systems Inc. HP Enterprise Company PTC Inc.
Key Market Opportunities The lot analytics market opportunities for this market are related to various industries.
Key Market Dynamics Significant developments in the IoT analytics industry include the rising popularity of Internet of Things (IoT) data and the need for analytics and automation in organizations.


Frequently Asked Questions (FAQ):

The IoT Analytics market size was valued at USD 18.94 Billion in 2023.

The market is growing at a CAGR of 21.25% during the forecast period, 2024-2032.

North America had the largest share of the market

The major players in the market are Amazon Web Services Inc., Google Inc., IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Dell Technologies Inc., Cisco Systems Inc., HP Enterprise Company PTC Inc.

The Descriptive Analytics category dominated the market in 2024.

Energy Management had the largest share of the market.

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