Dublin, Nov. 26, 2021 (GLOBE NEWSWIRE) -- The "Global Connected Devices Analytics Market (2021-2027) by Component, Device Connectivity, Application, Deployment, Organization Size, Industry Vertical, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Connected Device Analytics Market is estimated to be USD 14.9 Bn in 2021 and is expected to reach USD 49.86 Bn by 2027, growing at a CAGR of 22.3%.
Key factors such as a rapid rise in remote monitoring of employees working from home during the Covid-19 crisis have necessitated a need for connected devices in different industry verticals. This has been a prominent driver for the overall connected devices analytics market growth. Also, the increased penetration of the internet and IoT devices has led to a demand for these solutions. The growing adoption of smart payment methods is additionally supporting the growth of the market.
Conversely, the lack of skilled force required to handle the latest software systems based on IoT & AI, lack of security is likely to hinder the market growth. The growing need to generate real-time insights that can be acted upon in real-time through IoT sensors data will create a tremendous opportunity for the connected devices market players.
Market Dynamics
Drivers
- Increasing Focus on Remote Monitoring in Support of Work from Home Initiative
- Growing Adoption of Smart Payment Technologies
- Business Need to Build Digital Infrastructure for Large-Scale Deployments
- Rising Adoption of Technologies like Smart Payment
- The Increased Penetration of The Internet
- The Adoption of IoT Devices
Restraints
- Legacy Database Technologies Limiting IoT Product Integration
- Lack of Skilled Professional Workforce
Opportunities
- Real-Time Analytics Emerging as a Key Vital IoT Initiative
- Rising Internet Penetration and Adoption of IoT Devices
- Increasing Need for Remote Patient Care and Tracking Infected People in COVID-19 Pandemic Scenario
Challenges
- Cybersecurity Concerns
- The decline in Industrial Operation and Manufacturing Operations
Segments Covered
By Component, the Solutions segment is estimated to hold the highest market share. These solutions can help in understanding and improving the digital customer experience, attract and retain users, and analyze operations & actions taken across connected devices. Besides, they reduce the overall operational time, cost, and required expertise. Therefore, the solutions segment for connected devices analytics is likely to grow during the forecast period.
By Application, the Security and Emergency Management segment is estimated to hold the highest market share. The growth in the segment is high due to the increasing focus of the organization to reduce cyber attacks and hacking to achieve data confidentiality and integrity. This has led to segmental growth.
By Deployment, the market is classified as cloud-based and on-premise. Amongst the two, the Cloud-based deployment is estimated to hold the highest market share. Cloud-based deployments offer the benefits of cost-effectiveness along with scalability, which has led to higher adoption rates amongst the enterprises, thereby indicating market segment growth.
By Organization Size, Large Enterprises are increasingly using connected devices because of work from home initiative during a lockdown situation. Large Enterprises can afford to invest in IoT devices that are required for daily operations such as video conferencing, downloading or uploading large files, etc. Hence, the market share of large enterprises in connected devices analytics is more.
By Industry Vertical, the Retail and Ecommerce Segment is estimated to hold the highest market share. In order to identify product demand and maintain the inventory efficiently, the retail and eCommerce segment is adopting connected devices analytics. The growing need of retailers to deliver a better shopping experience with personalized interactions with customers has further compelled a need for an efficient, connected devices solution.
By Geography, North America is projected to lead the market. The factors attributed to the growth of the market are the rising investments in advanced technologies such as IoT, analytics, AI, and ML, the large presence of connected device analytics market players, and supportive government policies. Asia Pacific region is also expected to witness a high CAGR during the forecast period. The increasing investments by the technolgy companies in countries such as China and Japan, increasing government regulations is expected to drive the growth of the market in APAC.
Company Profiles
Some of the companies covered in this report are IBM Corporation, SAS Institute Inc, Oracle Corporation, PTC, AWS, Hitachi, SAP SE, TIBCO Software, GE, Cloudera, Adobe, Google, Amazon.com, Software AG, etc.
Report Highlights:
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.3 Trends
5 Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Connected Device Analytics Market, By Component
6.1 Introduction
6.2 Solutions
6.3 Services
6.3.1 Managed services
6.3.2 Professional services
6.3.2.1 Consulting services
6.3.2.2 Support and maintenance services
6.3.2.3 Deployment and Integration Services
7 Global Connected Device Analytics Market, By Device Connectivity
7.1 Introduction
7.2 Wireless Personal Area Networks
7.3 Wireless Local Area Networks
7.4 Low-Power Wide Area Networks
7.5 Cellular/Machine to Machine
7.6 Wired
8 Global Connected Device Analytics Market, By Application
8.1 Introduction
8.2 Energy Management
8.3 Predictive Maintenance and Asset Management
8.4 Inventory Management
8.5 Security and Emergency Management
8.6 Sales and Customer Management
8.7 Building Automation
8.8 Remote Monitoring
8.9 Others
9 Global Connected Device Analytics Market, By Deployment Mode
9.1 Introduction
9.2 Cloud
9.2.1 Public
9.2.2 Private
9.2.3 Hybrid
9.3 On-premises
10 Global Connected Device Analytics Market, By Organization Size
10.1 Introduction
10.2 Small and Medium-sized Enterprises
10.3 Large enterprises
11 Global Connected Device Analytics Market, By Industry vertical
11.1 Introduction
11.2 Manufacturing
11.3 Transportation and Logistics
11.4 Energy and utilities
11.5 Banking, Financial Services, and Insurance (BFSI)
11.6 Retail and Ecommerce
11.7 Government and defence
11.8 Healthcare and life sciences
11.9 Others
12 Global Connected Device Analytics Market, By Geography
13 Competitive Landscape
13.1 Competitive Quadrant
13.2 Market Share Analysis
13.3 Competitive Scenario
13.3.1 Mergers & Acquisitions
13.3.2 Agreements, Collaborations, & Partnerships
13.3.3 New Product Launches & Enhancements
13.3.4 Investments & funding
14 Company Profiles
14.1 Oracle Corporation
14.2 Microsoft
14.3 SAP SE
14.4 IBM Corporation
14.5 PTC
14.6 AWS
14.7 Cisco
14.8 Google
14.9 Adobe
14.10 Teradata
14.11 Hitachi
14.12 HPE
14.13 SAS Institute Inc.
14.14 Software AG
14.15 GE
14.16 Cloudera
14.17 Guavus
14.18 SPLUNK
14.19 Tibco Software
14.20 Infor
14.21 Salesforce.com
14.22 Amazon.com
For more information about this report visit https://www.researchandmarkets.com/r/dg7qni
