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Global Connected Devices Analytics Market (2021-2027): Increasing Focus on Remote Monitoring in Support of Work from Home Initiative – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Connected Devices Analytics Market (2021-2027) by Component, Device Connectivity, Application, Deployment, Organization Size, Industry Vertical, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.

The Global Connected Device Analytics Market is estimated to be USD 14.9 Bn in 2021 and is expected to reach USD 49.86 Bn by 2027, growing at a CAGR of 22.3%.

Key factors such as a rapid rise in remote monitoring of employees working from home during the Covid-19 crisis have necessitated a need for connected devices in different industry verticals. This has been a prominent driver for the overall connected devices analytics market growth. Also, the increased penetration of the internet and IoT devices has led to a demand for these solutions. The growing adoption of smart payment methods is additionally supporting the growth of the market.

Conversely, the lack of skilled force required to handle the latest software systems based on IoT & AI, lack of security is likely to hinder the market growth. The growing need to generate real-time insights that can be acted upon in real-time through IoT sensors data will create a tremendous opportunity for the connected devices market players.

Market Dynamics

Drivers

  • Increasing Focus on Remote Monitoring in Support of Work from Home Initiative
  • Growing Adoption of Smart Payment Technologies
  • Business Need to Build Digital Infrastructure for Large-Scale Deployments
  • Rising Adoption of Technologies like Smart Payment
  • The Increased Penetration of The Internet
  • The Adoption of IoT Devices

Restraints

  • Legacy Database Technologies Limiting IoT Product Integration
  • Lack of Skilled Professional Workforce

Opportunities

  • Real-Time Analytics Emerging as a Key Vital IoT Initiative
  • Rising Internet Penetration and Adoption of IoT Devices
  • Increasing Need for Remote Patient Care and Tracking Infected People in COVID-19 Pandemic Scenario

Challenges

  • Cybersecurity Concerns
  • The decline in Industrial Operation and Manufacturing Operations

Segments Covered

By Component, the Solutions segment is estimated to hold the highest market share. These solutions can help in understanding and improving the digital customer experience, attract and retain users, and analyze operations & actions taken across connected devices. Besides, they reduce the overall operational time, cost, and required expertise. Therefore, the solutions segment for connected devices analytics is likely to grow during the forecast period.

By Application, the Security and Emergency Management segment is estimated to hold the highest market share. The growth in the segment is high due to the increasing focus of the organization to reduce cyber attacks and hacking to achieve data confidentiality and integrity. This has led to segmental growth.

By Deployment, the market is classified as cloud-based and on-premise. Amongst the two, the Cloud-based deployment is estimated to hold the highest market share. Cloud-based deployments offer the benefits of cost-effectiveness along with scalability, which has led to higher adoption rates amongst the enterprises, thereby indicating market segment growth.

By Organization Size, Large Enterprises are increasingly using connected devices because of work from home initiative during a lockdown situation. Large Enterprises can afford to invest in IoT devices that are required for daily operations such as video conferencing, downloading or uploading large files, etc. Hence, the market share of large enterprises in connected devices analytics is more.

By Industry Vertical, the Retail and Ecommerce Segment is estimated to hold the highest market share. In order to identify product demand and maintain the inventory efficiently, the retail and eCommerce segment is adopting connected devices analytics. The growing need of retailers to deliver a better shopping experience with personalized interactions with customers has further compelled a need for an efficient, connected devices solution.

By Geography, North America is projected to lead the market. The factors attributed to the growth of the market are the rising investments in advanced technologies such as IoT, analytics, AI, and ML, the large presence of connected device analytics market players, and supportive government policies. Asia Pacific region is also expected to witness a high CAGR during the forecast period. The increasing investments by the technolgy companies in countries such as China and Japan, increasing government regulations is expected to drive the growth of the market in APAC.

Company Profiles

Some of the companies covered in this report are IBM Corporation, SAS Institute Inc, Oracle Corporation, PTC, AWS, Hitachi, SAP SE, TIBCO Software, GE, Cloudera, Adobe, Google, Amazon.com, Software AG, etc.

Report Highlights:

  • A complete analysis of the market including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Key Topics Covered:

1 Report Description

2 Research Methodology

3 Executive Summary

4 Market Overview

4.1 Introduction

4.2 Market Dynamics

4.3 Trends

5 Market Analysis

5.1 Porter’s Five Forces Analysis

5.2 Impact of COVID-19

5.3 Ansoff Matrix Analysis

6 Global Connected Device Analytics Market, By Component

6.1 Introduction

6.2 Solutions

6.3 Services

6.3.1 Managed services

6.3.2 Professional services

6.3.2.1 Consulting services

6.3.2.2 Support and maintenance services

6.3.2.3 Deployment and Integration Services

7 Global Connected Device Analytics Market, By Device Connectivity

7.1 Introduction

7.2 Wireless Personal Area Networks

7.3 Wireless Local Area Networks

7.4 Low-Power Wide Area Networks

7.5 Cellular/Machine to Machine

7.6 Wired

8 Global Connected Device Analytics Market, By Application

8.1 Introduction

8.2 Energy Management

8.3 Predictive Maintenance and Asset Management

8.4 Inventory Management

8.5 Security and Emergency Management

8.6 Sales and Customer Management

8.7 Building Automation

8.8 Remote Monitoring

8.9 Others

9 Global Connected Device Analytics Market, By Deployment Mode

9.1 Introduction

9.2 Cloud

9.2.1 Public

9.2.2 Private

9.2.3 Hybrid

9.3 On-premises

10 Global Connected Device Analytics Market, By Organization Size

10.1 Introduction

10.2 Small and Medium-sized Enterprises

10.3 Large enterprises

11 Global Connected Device Analytics Market, By Industry vertical

11.1 Introduction

11.2 Manufacturing

11.3 Transportation and Logistics

11.4 Energy and utilities

11.5 Banking, Financial Services, and Insurance (BFSI)

11.6 Retail and Ecommerce

11.7 Government and defence

11.8 Healthcare and life sciences

11.9 Others

12 Global Connected Device Analytics Market, By Geography

13 Competitive Landscape

13.1 Competitive Quadrant

13.2 Market Share Analysis

13.3 Competitive Scenario

13.3.1 Mergers & Acquisitions

13.3.2 Agreements, Collaborations, & Partnerships

13.3.3 New Product Launches & Enhancements

13.3.4 Investments & funding

14 Company Profiles

14.1 Oracle Corporation

14.2 Microsoft

14.3 SAP SE

14.4 IBM Corporation

14.5 PTC

14.6 AWS

14.7 Cisco

14.8 Google

14.9 Adobe

14.10 Teradata

14.11 Hitachi

14.12 HPE

14.13 SAS Institute Inc.

14.14 Software AG

14.15 GE

14.16 Cloudera

14.17 Guavus

14.18 SPLUNK

14.19 Tibco Software

14.20 Infor

14.21 Salesforce.com

14.22 Amazon.com

For more information about this report visit https://www.researchandmarkets.com/r/sth6az

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