Information Communication and Technology Reports IoT Analytics

IoT Analytics Market size is expected to grow from
USD 7.19 Billion in 2017 to USD 27.78 Billion by
2022, at a CAGR of 31.0%
According to a new market research report ”IoT Analytics Market by Application (Energy Management, Predictive
Maintenance & Asset Management, Inventory Management, Remote Monitoring), Component, Analytics Type,
Deployment, Organization Size, & Vertical - Global Forecast to 2022", published by MarketsandMarkets™, The IoT
Analytics market size is expected to grow from USD 7.19 Billion in 2017 to USD 27.78 Billion by 2022, at a
Compound Annual Growth Rate (CAGR) of 31.0%.
The key forces driving the IoT Analytics market include tremendous growth of Internet of Things (IoT) data and
need for advanced analytics and automation of businesses.
Browse and in-depth TOC on “IoT Analytics Market”
67 - Tables
31 - Figures
135 - Pages
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The manufacturing vertical is expected to have the largest market share during the forecast period
In terms of industry vertical, the manufacturing vertical is expected to continue to have the largest market share
throughout the forecast period. Manufacturing companies from heavy machinery and construction, industrial
machinery, oil and gas, and transportation and logistics are using IoT Analytics for effective utilization of their
assets from remote locations and to enhance their lifecycle. In the era of Industry 4.0 revolution, the
manufacturing organizations are rapidly moving toward predictive maintenance solutions, especially cloud-based
solutions. The latter have seen tremendous adoption among Small and Medium-Sized Enterprises (SMEs) also.
Manufacturers have the chance to monetize the insights obtained from the IoT generated data. IoT Analytics
innovates manufacturing processes; improves interoperability across a large set of assets; and links machines,
products, computers, people, and analytical resources into a single ecosystem.
The cloud deployment model to grow at a high CAGR during the forecast period
The cloud-based deployment models are witnessing increasing demand due to their cost-effectiveness and easy
availability. Cloud-based solutions require little physical set-up, incur low maintenance costs, and provide 24/7
accessibility from anytime, anywhere. Due to advancements in cloud technologies and increase in data generation
from various constituents and customers, cloud-based deployments are expected to exceed on-premises
deployments. Cloud solutions support real-time visibility of the sourcing and procurement activities, enabling
organizations to interconnect with employees and customers anytime, before, during, and after each
appointment.