PUBLISHER: Allied Market Research | PRODUCT CODE: 1298246
PUBLISHER: Allied Market Research | PRODUCT CODE: 1298246
The connected device analytics helps to allow the companies to create platforms and services which enable them to proficiently manage and examine real-time information streams from diverse data sources. This facilitates companies to manage, better optimize and envisage business processes and operations as well as also improves the profitability and effectiveness and neutralizes threats.
Increase in focus on remote monitoring in support of work from home initiatives and increase in penetration of the internet and IoT devices is boosting the growth of the global connected device analytics market. In addition, increase in use of digital transformation technology is positively impacting growth of the connected device analytics market. However, lack of skilled workforce and increase in security concerns is hampering the connected device analytics market growth. On the contrary, increase in real-time analytics emerging as a key vital IoT initiative is expected to offer remunerative opportunities for expansion of the connected device analytics market during the forecast period.
The connected device analytics market is segmented on the basis of by component, deployment mode, enterprise size, application, industry vertical, and region. On the basis of component, the market is categorized into solution and service. On the basis of deployment mode, the market is fragmented into cloud and on-premise. On the basis of enterprise size, the market is bifurcated into large enterprises and SMEs. By application, it is segmented into security and emergency management, sales and customer management, remote monitoring, predictive maintaince and asset management, inventory management, energy management, building automation and others. By industry vertical, it is classified into manufacturing, transport and logistics, energy and utilities, retail and eCommerce, BFSI, health and life science, government and defense, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the connected device analytics market are: Adobe, Cisco Systems Inc., Amazon Web Services Inc., Hitachi Ltd., Google LLC, Teradata Corporation, IBM Corporation, SAP SE, Oracle Corporation, and Microsoft Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.