Connected Device Analytics Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

IoT connected devices gather vast amounts of data, and these devices are equal in value to the critical information they collect. The number of such devices is increasing because of the steady demand for IoT services in various sectors for different applications. Therefore, the connected device analytics market allows companies to create platforms and services that enable them to efficiently manage and analyze real-time information streams from diverse data sources. This enables companies to optimize better, manage, and predict business processes and operations, improve profitability and efficiency, and neutralize threats.

MARKET SCOPE

The "Global Connected Device Analytics Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the connected device analytics market with detailed market segmentation by component, deployment mode, organization size, application, industry vertical, and geography. The report provides key statistics on the market status of the leading connected device analytics market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on component, the market is segmented into solutions and services.
• Based on deployment mode, the market is segmented into cloud and on-premises.
• Based on organization size, the market is segmented into large enterprises and Small and Medium-sized Enterprises (SMEs).
• Based on application, the market is segmented into security and emergency management, sales and customer management, remote monitoring, predictive maintenance and asset management, inventory management, energy management, building automation, and others.
• Based on industry vertical, the market is segmented into manufacturing, transportation and logistics, energy and utilities, retail and e-commerce, BFSI, healthcare and life sciences, government and defense, and others.

MARKET DYNAMICS

Drivers

 

• The rising focus on remote monitoring in support of work from the home initiative and the growing adoption of smart payment technologies are major factors driving the growth of the connected device analytics market.
• Rising internet penetration and adoption of IoT devices are anticipated to boost the growth of the connected devices analytics market.

Restraints

• Data security concerns may hinder the growth of the connected devices analytics market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The connected device analytics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the connected device analytics market in these regions.

IMPACT OF COVID-19 ON CONNECTED DEVICE ANALYTICS MARKET

COVID-19 first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. Few companies have already announced possible delays in product deliveries and slumps in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the connected device analytics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the connected device analytics market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market. 
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the connected device analytics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Cisco Systems, Inc.

• Hitachi, Ltd.
• IBM
• Microsoft
• Oracle
• PTC
• SAP SE
• SAS Institute Inc.
• Software AG
• Teradata

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Connected Device Analytics Report Scope