IoT Analytics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released an exhaustive report on the global IoT Analytics market. This report provides a deep-dive analysis of the essential market dynamics, including drivers, emerging trends, opportunities, and potential challenges, presenting thorough insights into the market structure and projected growth.

Key Insights:

IoT Analytics Market Size (2024E): USD 31.99 Bn
Projected Market Value (2031F): USD 140.97 Bn
Global Market Growth Rate (CAGR 2024 to 2031): 23.60%

IoT Analytics Market - Report Scope:

The IoT (Internet of Things) Analytics market focuses on extracting valuable insights from the massive volumes of data generated by connected devices across industries. This market includes analytics platforms, data storage, data processing solutions, and machine learning tools tailored for IoT data. IoT Analytics serves various sectors such as manufacturing, healthcare, retail, transportation, and smart cities, enabling these industries to gain actionable insights for predictive maintenance, operational efficiency, and customer experience enhancement. The market is expanding due to the exponential growth of IoT devices, increased data generation, and rising demand for advanced data analytics.

Market Growth Drivers:

The global IoT Analytics market is driven by several pivotal factors. With the proliferation of IoT devices, there is an unprecedented volume of data generated, which fuels the demand for robust analytics platforms to process and interpret this data effectively. In industries such as manufacturing, the need for real-time monitoring and predictive maintenance solutions pushes companies to adopt IoT Analytics. The retail sector benefits from IoT-driven customer behavior analysis, enabling personalized marketing and improved customer engagement. Furthermore, smart city initiatives worldwide rely on IoT data to optimize urban infrastructure, creating additional demand for IoT Analytics.

The integration of Artificial Intelligence (AI) and Machine Learning (ML) with IoT Analytics further drives market growth. These technologies enhance data interpretation, making analytics more predictive and prescriptive, and they are widely adopted in sectors aiming to automate decision-making and optimize operations.

Market Restraints:

Despite promising growth prospects, the IoT Analytics market faces challenges, primarily around data security and privacy concerns. The vast amount of data generated by IoT devices includes sensitive information, making it a target for cyberattacks. Ensuring data security and compliance with regulatory standards is a costly and complex process, deterring some organizations from fully leveraging IoT Analytics. Additionally, the integration of IoT systems and analytics tools requires significant initial investments and technical expertise, creating barriers for small- and medium-sized enterprises. The lack of standardized IoT protocols and interoperability between different devices and platforms also hinders seamless data flow, affecting data accuracy and analysis.

Market Opportunities:

The IoT Analytics market presents significant opportunities for expansion, driven by advancements in cloud computing and edge analytics. The adoption of edge computing allows data processing closer to the source, reducing latency and improving the speed of decision-making in applications like autonomous vehicles and remote monitoring. Cloud-based IoT Analytics platforms offer scalable solutions for small businesses, minimizing infrastructure costs and enhancing accessibility.

Further opportunities lie in the development of industry-specific IoT Analytics solutions. The healthcare industry, for example, shows substantial potential for IoT Analytics in patient monitoring, diagnostics, and personalized treatment planning. The demand for IoT-enabled environmental monitoring systems also opens avenues for market growth, particularly in sectors focusing on sustainability and energy efficiency. Strategic partnerships with technology providers, investment in cybersecurity measures, and innovations in AI-driven analytics can help market players capture these emerging opportunities.

Key Questions Answered in the Report:

What are the main drivers fueling the growth of the global IoT Analytics market?
Which industries are leading the adoption of IoT Analytics solutions?
How do advancements in AI and ML influence the competitive landscape of the IoT Analytics market?
Who are the key players in the IoT Analytics market, and what strategies are they adopting to maintain competitiveness?
What are the future trends and potential growth areas in the global IoT Analytics market?

Competitive Intelligence and Business Strategy:

Leading companies in the global IoT Analytics market, including Cisco Systems, IBM Corporation, and Microsoft Corporation, focus on innovation, data security enhancements, and strategic alliances to gain a competitive edge. These companies heavily invest in R&D to develop advanced IoT Analytics platforms that incorporate AI and machine learning capabilities. Collaborations with industry leaders, research institutions, and government bodies enable these players to expand their market presence and drive the adoption of IoT Analytics solutions. Emphasis on data privacy, scalability, and user-friendly interfaces contributes to increased consumer adoption and trust in IoT Analytics.

Key Companies Profiled:

IBM Corporation
Microsoft Corporation
Intel Corporation
Cumulocity GmbH
Tableau Software
Cisco System Inc.
Oracle Corporation
Aeris Communication
Accenture PLC
Others

IoT Analytics Industry Segmentation:

By Components

Software
Services

By Deployment Type

On-Premise
SaaS

By Verticals

Healthcare
Retail
Transportation & Logistics
Government
Manufacturing
IT & Telecom
Energy & Utilities
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Product Code: PMRREP12598

1. Executive Summary

1.1. Market Overview
1.2. Market Analysis
1.3. PMR Analysis and Recommendations
1.4. Wheel of Fortune

2. Market Introduction

2.1. Market Definition
2.2. Market Taxonomy
2.3. Parent Market Overview
2.4. Value Chain Analysis

3. Market View Point

3.1. Macro-Economic Factors
3.2. Opportunity Analysis

4. North America IoT Analytics Market Analysis and Forecast

4.1. Introduction
4.2. Key Regulations
4.3. Regional Market Dynamics
- 4.3.1. Drivers
- 4.3.2. Restraints
- 4.3.3. Trends
4.4. Drivers and Restraints: Impact Analysis
4.5. Historical Market Size (US$ Bn) Analysis 2019-2023, By Country
- 4.5.1. U.S.
- 4.5.2. Canada
4.6. Current Market Size (US$ Bn) Forecast 2024-2031, By Country
- 4.6.1. U.S.
- 4.6.2. Canada
4.7. Market Size (US$ Bn) Forecast By Component
- 4.7.1. Software
- 4.7.2. Service
4.8. Market Size (US$ Bn) Forecast By Deployment
- 4.8.1. On-premises
- 4.8.2. SaaS
4.9. Market Size (US$ Bn) Forecast By Vertical
- 4.9.1. Healthcare
- 4.9.2. Telecommunication and IT
- 4.9.3. Retail
- 4.9.4. Manufacturing
- 4.9.5. Government
- 4.9.6. Energy and Utility
- 4.9.7. Transportation and Utility
- 4.9.8. Others
4.10. Market Attractiveness Analysis
- 4.10.1. By Country
- 4.10.2. By Component
- 4.10.3. By Deployment
- 4.10.4. By Vertical
4.11. Key Representative Market Participants
4.12. Market Presence (Intensity Map)

5. Latin America IoT Analytics Market Analysis and Forecast

5.1. Introduction
5.2. Key Regulations
5.3. Regional Market Dynamics
- 5.3.1. Drivers
- 5.3.2. Restraints
- 5.3.3. Trends
5.4. Drivers and Restraints: Impact Analysis
5.5. Historical Market Size (US$ Bn) Analysis 2019-2023, By Country
- 5.5.1. Brazil
- 5.5.2. Mexico
- 5.5.3. Rest of Latin America
5.6. Current Market Size (US$ Bn) Forecast 2024-2031, By Country
- 5.6.1. Brazil
- 5.6.2. Mexico
- 5.6.3. Rest of Latin America
5.7. Market Size (US$ Bn) Forecast By Component
- 5.7.1. Software
- 5.7.2. Service
5.8. Market Size (US$ Bn) Forecast By Deployment
- 5.8.1. On-premises
- 5.8.2. SaaS
5.9. Market Size (US$ Bn) Forecast By Vertical
- 5.9.1. Healthcare
- 5.9.2. Telecommunication and IT
- 5.9.3. Retail
- 5.9.4. Manufacturing
- 5.9.5. Government
- 5.9.6. Energy and Utility
- 5.9.7. Transportation and Utility
- 5.9.8. Others
5.10. Market Attractiveness Analysis
- 5.10.1. By Country
- 5.10.2. By Component
- 5.10.3. By Deployment
- 5.10.4. By Vertical
5.11. Key Representative Market Participants
5.12. Market Presence (Intensity Map)

6. Europe IoT Analytics Market Analysis and Forecast

6.1. Introduction
6.2. Key Regulations
6.3. Regional Market Dynamics
- 6.3.1. Drivers
- 6.3.2. Restraints
- 6.3.3. Trends
6.4. Drivers and Restraints: Impact Analysis
6.5. Historical Market Size (US$ Bn) Analysis 2019-2023, By Country
- 6.5.1. Germany
- 6.5.2. U.K.
- 6.5.3. France
- 6.5.4. Spain
- 6.5.5. Italy
- 6.5.6. BENELUX
- 6.5.7. Russia
- 6.5.8. Rest of Europe
6.6. Current Market Size (US$ Bn) Forecast 2024-2031, By Country
- 6.6.1. Germany
- 6.6.2. U.K.
- 6.6.3. France
- 6.6.4. Spain
- 6.6.5. Italy
- 6.6.6. BENELUX
- 6.6.7. Russia
- 6.6.8. Rest of Europe
6.7. Market Size (US$ Bn) Forecast By Component
- 6.7.1. Software
- 6.7.2. Service
6.8. Market Size (US$ Bn) Forecast By Deployment
- 6.8.1. On-premises
- 6.8.2. SaaS
6.9. Market Size (US$ Bn) Forecast By Vertical
- 6.9.1. Healthcare
- 6.9.2. Telecommunication and IT
- 6.9.3. Retail
- 6.9.4. Manufacturing
- 6.9.5. Government
- 6.9.6. Energy and Utility
- 6.9.7. Transportation and Utility
- 6.9.8. Others
6.10. Market Attractiveness Analysis
- 6.10.1. By Country
- 6.10.2. By Component
- 6.10.3. By Deployment
- 6.10.4. By Vertical
6.11. Key Representative Market Participants
6.12. Market Presence (Intensity Map)

7. Asia Pacific IoT Analytics Market Analysis and Forecast

7.1. Introduction
7.2. Key Regulations
7.3. Regional Market Dynamics
- 7.3.1. Drivers
- 7.3.2. Restraints
- 7.3.3. Trends
7.4. Drivers and Restraints: Impact Analysis
7.5. Historical Market Size (US$ Bn) Analysis 2019-2023, By Country
- 7.5.1. China
- 7.5.2. Japan
- 7.5.3. India
- 7.5.4. ASEAN
- 7.5.5. Australia and New Zealand
- 7.5.6. Rest of Asia Pacific
7.6. Current Market Size (US$ Bn) Forecast 2024-2031, By Country
- 7.6.1. China
- 7.6.2. Japan
- 7.6.3. India
- 7.6.4. ASEAN
- 7.6.5. Australia and New Zealand
- 7.6.6. Rest of Asia Pacific
7.7. Market Size (US$ Bn) Forecast By Component
- 7.7.1. Software
- 7.7.2. Service
7.8. Market Size (US$ Bn) Forecast By Deployment
- 7.8.1. On-premises
- 7.8.2. SaaS
7.9. Market Size (US$ Bn) Forecast By Vertical
- 7.9.1. Healthcare
- 7.9.2. Telecommunication and IT
- 7.9.3. Retail
- 7.9.4. Manufacturing
- 7.9.5. Government
- 7.9.6. Energy and Utility
- 7.9.7. Transportation and Utility
- 7.9.8. Others
7.10. Market Attractiveness Analysis
- 7.10.1. By Country
- 7.10.2. By Component
- 7.10.3. By Deployment
- 7.10.4. By Vertical
7.11. Key Representative Market Participants
7.12. Market Presence (Intensity Map)

8. Middle East & Africa IoT Analytics Market Analysis and Forecast

8.1. Introduction
8.2. Key Regulations
8.3. Regional Market Dynamics
- 8.3.1. Drivers
- 8.3.2. Restraints
- 8.3.3. Trends
8.4. Drivers and Restraints: Impact Analysis
8.5. Historical Market Size (US$ Bn) Analysis 2019-2023, By Country
- 8.5.1. GCC Countries
- 8.5.2. Northern Africa
- 8.5.3. South Africa
- 8.5.4. Turkey
- 8.5.5. Rest of Middle East and Africa
8.6. Current Market Size (US$ Bn) Forecast 2024-2031, By Country
- 8.6.1. GCC Countries
- 8.6.2. Northern Africa
- 8.6.3. South Africa
- 8.6.4. Turkey
- 8.6.5. Rest of Middle East and Africa
8.7. Market Size (US$ Bn) Forecast By Component
- 8.7.1. Software
- 8.7.2. Service
8.8. Market Size (US$ Bn) Forecast By Deployment
- 8.8.1. On-premises
- 8.8.2. SaaS
8.9. Market Size (US$ Bn) Forecast By Vertical
- 8.9.1. Healthcare
- 8.9.2. Telecommunication and IT
- 8.9.3. Retail
- 8.9.4. Manufacturing
- 8.9.5. Government
- 8.9.6. Energy and Utility
- 8.9.7. Transportation and Utility
- 8.9.8. Others
8.10. Market Attractiveness Analysis
- 8.10.1. By Country
- 8.10.2. By Component
- 8.10.3. By Deployment
- 8.10.4. By Vertical
8.11. Key Representative Market Participants
8.12. Market Presence (Intensity Map)

9. Forecast Factors: Relevance and Impact

10. Forecast Assumptions

11. Competition Landscape

11.1. Market Structure
11.2. Market Share Analysis
11.3. Competition Intensity Mapping By Market Taxonomy
11.4. Competition Dashboard
11.5. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 11.5.1. IBM Corporation
- 11.5.2. Microsoft Corporation
- 11.5.3. Intel Corporation
- 11.5.4. Cumulocity GmbH
- 11.5.5. Tableau Software
- 11.5.6. Cisco System Inc.
- 11.5.7. Oracle Corporation
- 11.5.8. Aeris Communication
- 11.5.9. Accenture PLC

12. Global IoT Analytics Market Analysis, By Region

12.1. Introduction
12.2. Historical Market Size (US$ Bn) Analysis 2019-2023, By Region
- 12.2.1. North America
- 12.2.2. Latin America
- 12.2.3. Europe
- 12.2.4. Asia Pacific
- 12.2.5. Middle East and Africa
12.3. Current Market Size (US$ Bn) Forecast 2024-2031, By Region
- 12.3.1. North America
- 12.3.2. Latin America
- 12.3.3. Europe
- 12.3.4. Asia Pacific
- 12.3.5. Middle East and Africa
12.4. Market Attractiveness Analysis By Region

13. Global IoT Analytics Market Analysis, By Component

13.1. Introduction
13.2. Historical Market Size (US$ Bn) Analysis 2019-2023, By Component
- 13.2.1. Software
- 13.2.2. Service
13.3. Current Market Size (US$ Bn) Forecast 2024-2031, By Component
- 13.3.1. Software
- 13.3.2. Service
13.4. Market Attractiveness Analysis By Component
13.5. Key Trends

14. Global IoT Analytics Market Analysis, By Deployment

14.1. Introduction
14.2. Historical Market Size (US$ Bn) Analysis 2019-2023, By Deployment
- 14.2.1. On-premises
- 14.2.2. SaaS
14.3. Current Market Size (US$ Bn) Forecast 2024-2031, By Deployment
- 14.3.1. On-premises
- 14.3.2. SaaS
14.4. Market Attractiveness Analysis By Deployment
14.5. Key Trends

15. Global IoT Analytics Market Analysis, By Vertical

15.1. Introduction
15.2. Historical Market Size (US$ Bn) Analysis 2019-2023, By Vertical
- 15.2.1. Healthcare
- 15.2.2. Telecommunication and IT
- 15.2.3. Retail
- 15.2.4. Manufacturing
- 15.2.5. Government
- 15.2.6. Energy and Utility
- 15.2.7. Transportation and Logistics
- 15.2.8. Others
15.3. Current Market Size (US$ Bn) Forecast 2024-2031, By Vertical
- 15.3.1. Healthcare
- 15.3.2. Telecommunication and IT
- 15.3.3. Retail
- 15.3.4. Manufacturing
- 15.3.5. Government
- 15.3.6. Energy and Utility
- 15.3.7. Transportation and Logistics
- 15.3.8. Others
15.4. Market Attractiveness Analysis By Vertical
15.5. Key Trends