SAN FRANCISCO, 11 August 2021 / PRNewswire / – A new market study published by Global Industry Analysts Inc., (GIA) the leading market research company, published today its report entitled “Internet of Things Analytics (IoT) – Global Market Trajectory and Analytics”With the Report presents new perspectives on opportunities and challenges in a market significantly transformed after COVID-19.

Internet of Things Analytical Market (IoT)

THE FACTS IN A LOOK
Editions: 8; Issued: May 2021
Executive Pool: 127428
Companies: 65 – Players included include Accenture Plc; AGT International; Amazon Online Services; Capgemini SE; Cisco Systems Inc; Dell Technologies Inc .; GE Digital; Google LLC; Greenwave Systems Inc; IBM Corporation; Microsoft Corporation; Nokia; Oracle Corporation; PTC Inc; Salesforce.com Inc; SAP SE; Siemens AG; Teradata Corporation and others.
Coverage: All major geographies and major segments
Segments: Component (Solutions, Services); Deployment (On-Premise, Cloud); End use (Manufacturing, Retail and e-commerce, Transport and Logistics, Health & Life Sciences, Energy & Services, Other End Uses)
Geographies: World; United States; Canada; Japan; China; Europe (FRENCH; Germany; Ital; United Kingdom; and the rest of Europe); Asia-Pacific; The rest of the world.

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ABSTRACT-

Market to Achieve Internet of Things Analytics (IoT) $ 40.6 billion until 2024

Data has long been a critical asset of the corporation, but only now is it being monetized by analytics to stay ahead of the competition. With the cost of creating, collecting, assimilating, storing and accessing data constantly declining, analytical methods and tools are becoming ubiquitous and in the coming years are about to become indispensable. Therefore, Analytics is becoming a corporate strategy and a money-making strategy to develop scalable knowledge and skills that drive competitive advantage. Enterprises around the world, large and small, are undergoing an analytical transformation backed by indisputable evidence linking analytical capability to high business performance and competition.

In the developing world with more cars than people, the IoT is poised to take center stage. As the phenomenon of the fastest man-made growth, the rise of cars is expanding the market potential for an addressable IoT. The growth of cars especially mobile devices is continuing the spiral at rates 5 times faster than population growth. Mobile devices like smartphones, tablets and other handheld devices and IoT devices that communicate with other machines are witnessing the highest growth. Other machines include smart meters, machines, industrial equipment, etc. Today, a large part of IoT activity focuses on manufacturing, transportation / logistics, smart city / services and customer applications. Over the next two years, demand response, distributed energy generation and storage, smart meters, and fleet management will emerge as the largest spending categories for IoT. Medium-term potential applications include automated inventory management and predictive equipment maintenance.

Amid the COVID-19 crisis, the global market for Internet of Things Analysis (IoT) is projected to reach $ 40.6 billion by 2024, recording a compound annual growth rate (CAGR) of 28.6% during the analysis period. United States represents the largest regional market for Internet of Things Analysis (IoT), accounting for an estimated 35.0% of the global total. The market is projected to catch up $ 17 billion until the end of the analysis period. China is expected to lead the growth and emerge as the regional market with the fastest growth with a CAGR of 32.8% during the analysis period. Despite the IoT background that encompasses countless industries and continues to attract more and more investors, the focus is now shifting to providing ROI. Currently, the main objective and focus of companies that adopt IoT is to make money from technology and provide ROI in investments embedded in IoT projects. Theoretically IoT can deliver benefits and deliver ROI while saving costs, creating new revenue models, enabling disruptive innovations, reducing inefficiencies, increasing operational efficiencies, and reducing market time. However, the realization of these benefits depends largely on the proper implementation and use of data generated by IoT-related devices. Steady real-time data flow generated by networked machines and processes generates large IoT data which companies need to collect, store, filter and analyze to generate useful knowledge. These massive volumes of big data created by the IoT accelerate the criticality of data management technologies to create real-world IoT benefits.

Given that the main reason behind the implementation of IoT is the integration and automation of business processes, a goal which can not be achieved without translating IoT digital data into meaningful knowledge, businesses are finding ways to make money in the cache of IoT data. It’s actually the only way to realize ROI from investing in IoT. Given the size of digital data generated by IoT-connected devices, the success of IoT deployments depends on the ability to analyze and process this raw data into meaningful information and knowledge. With data analytics becoming more common, IoT deployment and IoT analytics will witness an incentive with more companies wanting to validate ROI gains at IoT CAPEX. More

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About Global Industry Analysts, Inc. & StrategyR
Global Industry Analysts, Inc., (www.strategyr.com) is a well-known market research publisher, the only influential market research company in the world. Serving proudly serving more than 42,000 customers from 36 countries, GIA has been known for accurately forecasting markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com

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SOURCE Global Industry Analysts, Inc.