Sensor Data Analytics Market Size, Trends, Growth Status, Share, and Forecast 2031

The global sensor data analytics market revenue was around US$ 12 billion in 2021 and is estimated to reach US$ 46 billion by 2031, growing at a compound annual growth rate (CAGR) of 14.5% during the forecast period from 2022 to 2031.

Sensor data analytics is a key statistical method for gathering and analyzing data that was first derived from the most recent sensor in real-time. In addition, modern wireless sensors or connected sensors can be used to create important data. Additionally, the primary objective or approach of sensor data analytics is to find abnormalities, and this real-time data can be used for a variety of contemporary applications. The failure of a machine during production or a fast decline in a patient's health can be quickly and easily monitored, allowing for the interruption of large serious negative outcomes.

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Factors Influencing Market Growth

• An increase in wearable device demand and the development of more complex sensors drive the sensor data analytics market growth.

• An increase in demand for various types of visualized real-time sensor data and information boosts market growth.

• Improved sensors and greater Internet of Things (IoT) adoption are anticipated to provide lucrative sensor data analytics market growth opportunities.

• High installation costs, a shortage of qualified specialists, and a lack of consumer awareness of sensor data analytics hamper the market growth.

Study of the COVID-19 Pandemic

The COVID-19 pandemic had a positive impact on the sensor data analytics market. This is attributed to the various governments implementing strict rules and lockdowns. Due to the lockdown, numerous organizations have established a work-from-home culture for their staff members, which is driving demand for cloud-based sensor data analytics to manage businesses, and important information and, consequently, generating a lucrative opportunity for market expansion over the projection period.

Regional Insights

North America dominated for market share in the sensor data analytics market in 2021, and it is anticipated that it will maintain its position during the forecast period due to technological developments in the information and communication technology (ICT) sector and the rapid rise of artificial intelligence (AI) & internet of things (IoT) within industries.

Asia-Pacific is anticipating significant growth during the forecast period due to an increase in the number of big data analytics SMEs offering end consumers cost-effective solutions.

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Leading Competitors
The leading competitors in the global sensor data analytics market are:
• AGT International Inc
• Cisco Systems Inc
• Cloudera Inc
• Fog Horn
• Google Inc
• General Electric
• Hewlett Packard Enterprise Company
• IBM Corporation
• Juniper Networks Inc
• Microsoft Corporation
• Qualcomm Incorporated
• Schneider Electric SE
• Seeq Corporation
• SAP SE
• Tata Consultancy Services
• Talend
• Verizon Communications Inc.
• Others
Segmentation Analysis
The global sensor data analytics market segmentation focuses on Model, Analytics Technique, Tool Type, Enterprise Size, Industry Vertical, Offerings Deployment Type, and Region.
Segmentation based on Model
• Ad-hoc Sensor Analytics
• Real-time Sensor Analytics
Segmentation based on Analytics Technique
• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics
Segmentation based on Tool Type
• Dashboard & Data Visualization
• Data Mining & Warehousing
• Self-Service Tools
• Reporting
• Others
Segmentation based on Enterprise Size
• Large Enterprises
• SMEs
Segmentation based on Industry Vertical
• Manufacturing
 Food & Beverages
 Industrial Machinery & Heavy Equipment
 High-Tech & Consumer Electronics
 Automotive
 Others
• Aerospace & Defense
• Energy & Utilities
• Government & Public Sector
• Healthcare
• Transportation & Logistics
• Retail
• Others

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Segmentation based on Offerings
• Solution
 Hardware
 Software
• Service
 Professional Service
 Managed Service
Segmentation based on Deployment Type
• On-premise
• Cloud
Segmentation based on Region
• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific

• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA

• South America
• Brazil
• Argentina
• Rest of South America

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This release was published on openPR.