Connected Device Analytics Market by Organization Size, Device Connectivity, Component, Deployment Mode, Industry Vertical, Application

Description

List of Tables

The Connected Device Analytics Market was valued at USD 27.81 billion in 2023, expected to reach USD 34.29 billion in 2024, and is projected to grow at a CAGR of 23.36%, to USD 121.00 billion by 2030.

Connected Device Analytics involves the collection, analysis, and interpretation of data from various internet-connected devices, known as the Internet of Things (IoT). These analytics offer a comprehensive understanding of how devices operate and interact, which can drive strategic business decisions, optimize operations, and enhance user experiences. This field is becoming increasingly necessary due to the exponential growth of IoT devices, which are expected to surpass 30 billion by 2025, creating a significant influx of real-time data. Applications span across industries such as healthcare, where connected devices monitor patient health; manufacturing, where predictive maintenance can minimize downtime; and smart homes, which improve energy efficiency. The end-use scope is extensive, including sectors like automotive, retail, and agriculture, showcasing versatility across various market domains. Key growth factors include advancements in machine learning and AI that improve data processing, the proliferation of smart infrastructure, and the growing emphasis on data-driven decisions. Potential opportunities lie in emerging markets, such as smart city projects and personalized consumer experiences. To seize these opportunities, businesses should invest in scalable infrastructures and partner with advanced analytics firms. However, the market also faces challenges like data privacy concerns, interoperability issues among diverse devices, and high implementation costs. Innovation will likely focus on the development of standards for seamless device integration, enhanced cybersecurity measures, and the use of blockchain for secure data sharing. For businesses eyeing growth, investing in research to improve anomaly detection and enhance predictive analytics can provide a competitive edge. The market is dynamic and rapidly evolving, driven by technological advancements and increasing consumer expectations. Hence, companies that proactively engage with these trends and technologies will be well-positioned to capitalize on current and future opportunities in connected device analytics.

KEY MARKET STATISTICS
Base Year [2023]	USD 27.81 billion
Estimated Year [2024]	USD 34.29 billion
Forecast Year [2030]	USD 121.00 billion
CAGR (%)	23.36%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Connected Device Analytics Market

The Connected Device Analytics Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing penetration of the internet and adoption of smart IoT devices
- Need of the analytics to monitor remotely to support the work from home initiative
- Rising adoption of smart payment technologies
Market Restraints
- Lack of skilled professionals
Market Opportunities
- Emerging technologies integrated in the connected devices to provide real-time analysis of the patient care and tracking infected people
- Growing digitalization of enterprises across industry verticals
Market Challenges
- Rapidly increasing cyber threats

Porter's Five Forces: A Strategic Tool for Navigating the Connected Device Analytics Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Connected Device Analytics Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Connected Device Analytics Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Connected Device Analytics Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Connected Device Analytics Market

A detailed market share analysis in the Connected Device Analytics Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Connected Device Analytics Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Connected Device Analytics Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Connected Device Analytics Market

A strategic analysis of the Connected Device Analytics Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Connected Device Analytics Market, highlighting leading vendors and their innovative profiles. These include Adobe Inc., Amazon Web Services, Inc., Cisco Systems, Inc., General Electric Company, Google LLC by Alphabet Inc., Guavus, Inc., Hewlett Packard Enterprise Development LP, Infor, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, PTC Inc., Salesforce, Inc., SAP SE, SAS Institute Inc., and Software AG.

Market Segmentation & Coverage

This research report categorizes the Connected Device Analytics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Organization Size, market is studied across Large Enterprises and Small & Medium-Sized Enterprises.
Based on Device Connectivity, market is studied across Cellular or Machine to Machine, Low-Power Wide Area Networks, Wired, Wireless Local Area Networks, and Wireless Personal Area Networks.
Based on Component, market is studied across Consulting, Services, and Solutions. The Consulting is further studied across Deployment & Integration and Support & Maintenance. The Services is further studied across Managed Services and Professional Services.
Based on Deployment Mode, market is studied across Cloud and On-Premises. The Cloud is further studied across Hybrid Cloud, Private Cloud, and Public Cloud.
Based on Industry Vertical, market is studied across Banking, Financial Services, & Insurance, Energy & Utilities, Government & Defense, Healthcare & Life Sciences, Manufacturing, Retail & Ecommerce, and Transportation & Logistics.
Based on Application, market is studied across Building Automation, Energy Management, Inventory Management, Remote Monitoring, Sales & Customer Management, and Security & Emergency Management.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-7E6E132BE8E6

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing penetration of the internet and adoption of smart IoT devices
  - 5.1.1.2. Need of the analytics to monitor remotely to support the work from home initiative
  - 5.1.1.3. Rising adoption of smart payment technologies
- 5.1.2. Restraints
  - 5.1.2.1. Lack of skilled professionals
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging technologies integrated in the connected devices to provide real-time analysis of the patient care and tracking infected people
  - 5.1.3.2. Growing digitalization of enterprises across industry verticals
- 5.1.4. Challenges
  - 5.1.4.1. Rapidly increasing cyber threats
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Connected Device Analytics Market, by Organization Size

6.1. Introduction
6.2. Large Enterprises
6.3. Small & Medium-Sized Enterprises

7. Connected Device Analytics Market, by Device Connectivity

7.1. Introduction
7.2. Cellular or Machine to Machine
7.3. Low-Power Wide Area Networks
7.4. Wired
7.5. Wireless Local Area Networks
7.6. Wireless Personal Area Networks

8. Connected Device Analytics Market, by Component

8.1. Introduction
8.2. Consulting
- 8.2.1. Deployment & Integration
- 8.2.2. Support & Maintenance
8.3. Services
- 8.3.1. Managed Services
- 8.3.2. Professional Services
8.4. Solutions

9. Connected Device Analytics Market, by Deployment Mode

9.1. Introduction
9.2. Cloud
- 9.2.1. Hybrid Cloud
- 9.2.2. Private Cloud
- 9.2.3. Public Cloud
9.3. On-Premises

10. Connected Device Analytics Market, by Industry Vertical

10.1. Introduction
10.2. Banking, Financial Services, & Insurance
10.3. Energy & Utilities
10.4. Government & Defense
10.5. Healthcare & Life Sciences
10.6. Manufacturing
10.7. Retail & Ecommerce
10.8. Transportation & Logistics

11. Connected Device Analytics Market, by Application

11.1. Introduction
11.2. Building Automation
11.3. Energy Management
11.4. Inventory Management
11.5. Remote Monitoring
11.6. Sales & Customer Management
11.7. Security & Emergency Management

12. Americas Connected Device Analytics Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Connected Device Analytics Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Connected Device Analytics Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
15.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Adobe Inc.
2. Amazon Web Services, Inc.
3. Cisco Systems, Inc.
4. General Electric Company
5. Google LLC by Alphabet Inc.
6. Guavus, Inc.
7. Hewlett Packard Enterprise Development LP
8. Infor
9. International Business Machines Corporation
10. Microsoft Corporation
11. Oracle Corporation
12. PTC Inc.
13. Salesforce, Inc.
14. SAP SE
15. SAS Institute Inc.
16. Software AG