The global Analytics of Things market is expected to grow at USD$ 29.53 billion by 2023, at 30.0% of CAGR between 2017 and 2023.
Market Synopsis of Analytics of Things Market:
The Analytics of Things describes the analysis of the data produced by the Internet of Things devices. Analytics of Things is essential to make the connected devices smart and allow it to make smart decisions. It can be integrated with an organization’s existing business analytics. The potential of AoT is being recognized by the organization which will bring success to their business. With the evolution of Big Data the organization are expected to generate huge data in the forecast year which is being started to build up on their analytics capabilities. The organizations are investing in advanced technology and skilled human resources for AoT to be successful.
The study indicates that the Analytics of Things AoT can be used in various sectors such as predictive, analytics, diagnostics analytics and among others. These analytics of things are driven by the access the huge amount of data in real time which is further substitute a cloud based solution, which improve efficiency, increasing demand of IOT and demand of instant information and many more has fueled the market of analytics of things market. Moreover, by using AoT the organizations can sense of the data generation and thus, can take required steps to recover the business.
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Key Players:
The prominent players in the Analytics of Things Market are –Hewlett Packard Enterprise Company (US), Cisco Systems, Inc. (US), Dell Technologies, Inc. (US), Google, Inc., (US), Amazon Web Services (US), Salesforce.com, Inc. (US), Teradata Corporation (US), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), and SAP SE (Germany)among others.
Segmental Analysis:
The analytics of things market has been segmented on the basis of component, type, end users, and region.By type, the market is segmented into prescriptive analytics, automating analytics, diagnostic analytics, predictive analytics, descriptive analytics and others.The segmentation of the market on component comprises of software, sensor data analytics, IOT gateway analytics, network management. The services-based segmentation of the market comprises of professional services, managed services, and others.The end user segment of the market contains retail and e-commerce, government and defense, healthcare and life sciences, telecommunications and ITand others.The regions included in the market comprises of North America, APAC, Europe, Rest of the World.
Detailed Regional Analysis :
The regional analysis of the market for Analytics of Things Market comprises of regions such as APAC, N America, Europe and Rest of the World. The North American region is one of the leading regions in the world in terms of prime market share in Analytics of Things market due to the government investments in the IoT technology. The rising demand for the Analytics of Things, the European region is likely to observe swift growth in this market. While, Asia Pacific nations like Japan, China, and South Korea is a developing market for Analytics of Things and is projected to have peak CAGR in the forecast period.
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Competitive Analysis:
The market is greatly lifted by the developments that are occurring in the market. The successful integration of supply chain management is steadily increasing the development of the market. The decisive success factors in the market are easily achieved in the market leading to a raised pace of development in the forecast period. The market demand and competitors’ dynamics are markedly enhanced by the strategies that are being utilized by market players. The innovation in products and services of the markets will modify the progression of development of the market substantially. The long-run feasibility of the market is highly dependent on the techniques and the strategic roadmaps that are engaged by market players. The enhanced level of prominence on the variation of products is increasing the number of customers in the market substantially.
Industry Updates:
Teradata which has established itself as a leading cloud-based data and analytics company has stated a new capability in advanced analytics termed ‘4D analytics’. With these capabilities, the company seeks to provide innovative functionality in the edge computing applications and making IoT edge computing quicker than ever. Teradata is also aiming to safeguard enhanced customer experience. The capability which is a central component of Teradata in its efforts to reinforce Analytics of Things, 4D Analytics would provide a flexible, agile and scalable way to ensure the high return of analytics investments.
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Intended Audience:
- Raw material providers
- Service providers and distributors
- AoT application builders
- Independent Software Vendors
- Analytics consulting companies
- Market research and consulting firms
- Solution providers
- Intellectual property core and licensing providers
- Technology standards organizations
- Technology investors
- Research institutes,
- System Integrators
- Research/Consultancy firms
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