New York, Aug. 03, 2022 (GLOBE NEWSWIRE) -- According to the data historian market analysis carried out by Persistence Market Research, demand registered in the market is expected to increase at a noteworthy CAGR of 5.8% from 2022-2032. The report states that the global data historian market is expected to reach a valuation of US$ 1.52 Bn in 2022.
A data historian solution assists in storing and retrieving the data that is acquired throughout a process. With minimal disc storage requirements and quick retrieval, the data historian program can store data effectively. Datacenters, chemical plants, automobiles, pharmaceutical production, water management, oil & gas, and other industries employ data historian software.
Increasing development of hyper historian software helps implement various features in data historian software - robust, high-performance, and scalable. It is intended for use with applications that are the most mission-critical and necessitate the highest level of availability, high compression, and minimal CPU & memory utilization. Thus, rising adoption of hyper historian software will fuel the demand for data historian solutions over the coming years.
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Key Takeaways of Data Historian Market Study
- By solution, the on-premise segment accounted for a leading share in the market in 2021. The segment is estimated to expand at a robust CAGR of 5.2% through 2032.
- By industry, the data centers segment is anticipated to increase at a CAGR of 7.2% between 2022 and 2032.
- Europe dominates the data historian market, followed by North America, in 2022. South Asia & Pacific is estimated to be the fastest-growing regional market over the decade.
“By updating current products to increase operational historian efficiency, decrease running costs, and adopting technologies such as IoT and cloud computing for next-generation data analytics solutions, data historian software and service providers can increase their revenues,” says a Persistence Market Research analyst.
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Technological Advancements to Create New Growth Opportunities
Data historians have evolved from merely storing data to acting as data infrastructure. This means that data collection, storage, or visualization by themselves, or even in combination, do not make an industrial data management system valuable
Industry 4.0 requires an infrastructure solution that is capable of integration, archiving, asset modelling, visualizing, analysis, and a variety of other analyzing features.
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Advantages and benefits such as business productivity, high speed data collection, remote data collectors, and intelligent asset management have fueled the growth of data historian solutions. The integration of technologies such as IoT, machine learning, artificial intelligence, and others is expected to lead to the development of the data historian market with significantly increased capabilities and performance.
More Valuable Insights on Offer
Persistence Market Research’s report on the data historian industry research is segmented into three major sections – solution (on-premise, cloud-based), industry (energy & utilities, pharmaceuticals, paper & pulp, chemicals, marine, data centers, metal & mining, others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate the lucrative opportunities in the data historian market.
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