IoT Analytics Market: Introduction
- IoT connected devices accumulate large amount of data, and these IoT devices are equivalent in value to the acute information that they gather. The number of IoT devices is increasing owing to the demand for IoT analytics and services for numerous applications in various sectors. Hence, the IoT analytics market is allowing companies to create services platform that allow them to proficiently analyze and accomplish real-time information streams from various data sources. This enables companies to optimize, manage, and predict business processes and operations, improve efficiency and profitability, and nullify threats. Thus, data analytics is important for expansion of IoT and companies are also increasing their efforts on the IoT analytics market. Companies are planning strategies to organize and procure appropriate tools that enable the effective adoption of IoT analytics and operation analysis in real time.
Global IoT Analytics Market: Dynamics
Global IoT Analytics Market: Key Drivers
- IoT analytics plays a vital role in improving the productivity of the healthcare industry. The amount of data processes by the healthcare industry is increasing rapidly. IoT healthcare solutions have the potential to advance the efficiency and quality of treatments. With leveraging IoT & analytics, healthcare solutions, is leading a way for a model that is digital enabled, patient centric to increase the market growth over the forecast period. For instance, in December 2017 Apollo Hospitals in India started emphasizing on connected health to offer better-quality service in which they targeted IoT analytics within the hospital. The advent of wearable devices, which allows the user to track blood pressure, heart rate, and several other parameters coupled with its better adoption has resulted in the generation of voluminous data that has to be analyzed and structured. This is anticipated to boost the adoption of the IoT analytics market during the forecast period.
North America to Account for Major Share of Global IoT Analytics Market
- In terms of region, the global IoT analytics market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is projected to hold a major share of the global market due to the early acceptance of IoT technology in several industries in the region. Companies in the region are increasingly adopting IoT analytics to track the performance of their offerings. Monitoring compliance is a major driver due to the extraordinary adoption of IoT technology in the U.S. The outline of the Energy Act in the U.S. has accelerated the efforts to observe sustainable energy consumption. This is anticipated to propel the IoT analytics market during the forecast period.
Global IoT Analytics Market: Competitive Landscape
Key Players Operating in Global IoT Analytics Market
Key Players of IoT Analytics Market Include:
- Microsoft Corporation
- IBM Corporation
- Intel Corporation
- Aeris Communication
- Tableau Software
- Cumulocity GmbH
- Amazon Web Services, Inc.
- Accenture PLC
- Cisco Systems, Inc.
- Oracle Corporation
In March 2018, IBM allows private IoT investigation cloud stage that integrates similar public cloud highlights for the server farm. This will encourage the customer’s to bring high convergence of income.
In November 2019, AWS stated new updates for Alexa Voice Service & added new IoT analytics facilities. This allows the simple administration of new gadgets like gotten AWS IoT device management.
Global IoT Analytics Market Dynamics: Research Scope
Global IoT Analytics Market Dynamics, by Components
Global IoT Analytics Market Dynamics, by Deployment
Global IoT Analytics Market Dynamics, by Organization size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Global IoT Analytics Market Dynamics, by Industry
- Transportation & Logistics
- IT & Telecom
- Energy & Utility
Global IoT Analytics Market Dynamics, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of MEA
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.