IoT Analytics Market Demand Key Growth Opportunities. Development and Forecasts to 2017-2032

IoT Analytics Market was valued at USD 22.87 Billion in 2021, and it is expected to reach USD 145.29 Billion by 2029, exhibiting a CAGR of 26 % during the forecast period (2022-2029)

Large amounts of data are gathered by connected IoT devices, and the value of these devices is equal to the important data that they gather. Due to the consistent demand for IoT services across multiple industries for a variety of applications, there are more of these devices on the market. As a result, the IoT analytics market is empowering businesses to develop tools and services that let them effectively manage and analyse streams of real-time data from various data sources.
IoT-connected devices acquire a lot of data, and the value of these IoT devices is comparable to the precise information that they collect. The demand for IoT analytics and services for multiple applications across various industries is driving up the number of IoT devices. Because of this, the IoT analytics market is enabling businesses to develop platforms for their services that let them effectively monitor and process real-time information streams from multiple data sources. This gives businesses the ability to manage and predict corporate operations and processes, increase productivity and profitability, and eliminate dangers. As a result, data analytics is crucial for the development of the Internet of Things, and businesses are stepping up their efforts in this industry.

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Market Dynamics
Growing demand for predictive analytics by businesses:
Predictive analytics are become more significant due to the proliferation of IoT devices. It serves as the cornerstone of intelligent decision-making that is devoid of user intervention. For instance, a self-driving car uses the Global Positioning System (GPS) to deliver the delivery on time and over the shortest route. The GPS system in charge of driving the truck also employs predictive analytics to find the quickest path. By combining statistical algorithms, historical data, and M2M learning, predictive analytics makes predictions about future events.
IoT devices already use IoT data, which is refined by predictive analytics to produce conclusions and predictions. IoT Analytics offers the ability to analyse IoT data and produce real-time dashboards mapped on many parameters

Global IoT Analytics Market: Major Players
• PTC, Inc.
• Greenwave Systems, Inc.
• International Business Machines (IBM) Corporation
• Google Inc.
• Oracle Corporation
• Cisco Systems, Inc.
• Amazon Web Services, Inc.
• Hitachi, Ltd.
• Hewlett Packard Enterprise Development LP
• Teradata Corporation
• Dell Technologies, Inc.
• Microsoft Corporation
• SAP SE
• Salesforce.com, Inc.

Global IoT Analytics Market: Types
• Software
• Hardware
• Services

Global IoT Analytics Market: Applications
• E-commerce
• Marketing
• Sales and Customer Management
• Retail and Smart Buildings
• Energy Management
• Predictive Maintenance and Asset Management
• Inventory Management
• Security and Emergency Management
• IT Infrastructure Management
• Remote Monitoring
• Others (Product and Process Management, and Cost Optimization)

Global IoT Analytics Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global IoT Analytics market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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