ID: MRFR/ICT/5817-HCR | February 2021 | Region: Global | 100 pages
Global IoT data management market was valued at USD 22.85 billion in 2017 and is expected to reach USD 62.53 billion by the end of forecast period with a CAGR of 18.27%.
The growing number of connected devices, rising internet penetration, and explosive growth in smartphone ownership across the globe is leading to outpour of data. This has created an immense need for data management. The enormous amount of data generation has led the organizations to shift towards the IoT enabled Platform-as-a-Service model and cloud-based solutions. IoT data management helps in discovering usage patterns, which can further support in providing improved user experience. Not only does it help in providing better experience, but also enable resource efficiency. Furthermore, projects such as smart homes and smart cities which are expanding rapidly across the globe is also creating the need to manage this tremendous amount of data along with keeping the data secure. The players in this market are focusing on creating solutions that would deal with the management and security of large volume of data. For instance, in July 2017, IBM launched new security testing practice areas, focused on automotive security and IoT. This will focus on testing backend processes, physical hardware, and apps which control the access and management of smart systems.
By component, the market is segmented into solution and services. The solution segment is further bifurcated into data integration, data analytics and visualization, metadata management, data security, data migration, and others. The services segment is further segmented into managed services, consulting services, and support and maintenance services.
By deployment, IoT data management is segmented into public cloud, private cloud, and hybrid cloud. By organization size, the market is divided into SMEs and large enterprises. By application, the market is bifurcated into smart energy and utilities, smart manufacturing, building and home automation, smart healthcare, smart retail, smart mobility and transportation, connected logistics, and others.
The global market for IoT data management is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of IoT data management market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, North America is expected to dominate the IoT data management market. Rapid adoption of smart devices and presence of a large number of vendors for IoT data management market in this region contributes to its largest share. Moreover, rising number of small and medium sized companies in this region is boosting the growth of IoT data management market in this region.
Asia-Pacific region has immense potential for growth in this market. Adoption of advanced technologies, fast developing IT infrastructure and adoption of IoT in industrial segment are some of the important market driving factors. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Europe is also expected to contribute significantly to the growth of IoT data management market during the forecast period.
The global IoT data management market was valued at USD 22.85 billion in 2017 and is expected to reach USD 62.53 billion by the end of forecast period with a CAGR of 18.27%.
The key players in the IoT data management market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – IBM Corporation (US), Dell Technologies, Inc. (US), Cisco Systems, Inc. (US), Google Inc. (US), SAS Institute Inc. (US), Hewlett Packard Enterprise (US), Fujitsu Limited (Japan), Oracle Corporation (US), PTC Inc. (US), Teradata Corporation (US), and SAP SE (Germany). These players contribute a major share in the growth of IoT data management market.
Apart from the top key players, there are other players that contribute to the market growth. These include Trustwave Holdings, Inc. (US), Logmein, Inc. (Hungary), Mulesoft, Inc. (US), Striim, Inc. (US), LogFuze Inc. (US), InfluxData, Inc. (US) Zebra Technologies Corporation (US), and others.
Frequently Asked Questions (FAQ) :
The global IoT data management market is expected to record a substantial market valuation of USD 62.53 billion.
The global IoT data management market is projected to register a moderate 18.27% CAGR in the forecast period.
The services segment is slated to expand as the fastest-growing segment.
The hybrid cloud segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global IoT data management market are Google Inc. (U.S.), Apple Inc. (U.S.), Dell Technologies, Inc. (US), Cisco Systems, Inc. (US), among others.