Information Communication and Technology Reports IoT Analytics Market Report | Seite 2
and cost-effectiveness, and the increasing needs of organizations to keep track of operational processes for
maintaining productivity.
The manufacturing industry vertical is expected to have the largest market share and lead the market during the
forecast period. IoT Analytics can be exploited by manufacturers to create smarter products; connect and integrate
with customers; streamline innovations, planning, and pre-manufacturing processes; and improve post-
manufacturing support and services.
Large enterprises are expected to dominate the market in terms of market share because they have various
operating units, and IoT Analytics helps integrate the real-time and historical data obtained from these units to
generate insights from it. However, Small and Medium-sized Enterprises (SMEs) are expected to exhibit a higher
CAGR, owing to easy availability and scalability of cloud-based deployments.
The descriptive analytics type is expected to grow at the highest CAGR, due to the increasing adoption of digital
technologies and the use of descriptive analytics for analyzing past data and gaining insights to improve efficiencies
in strategic sourcing.
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