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Connected Device Analytics Market Drivers, Key Players, Share, Market Size And Forecast To 2033
Connected Device Analytics Market
As per the report, the connected device analytics market size has grown exponentially in recent years. It will grow from $28.9 billion in 2023 to $35.79 billion in 2024 at a compound annual growth rate (CAGR) of 23.8%. The connected device analytics market size is expected to see exponential growth in the next few years. It will grow to $83.39 billion in 2028 at a compound annual growth rate (CAGR) of 23.5%.
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Influence Of Internet And IoT Device Growth On Connected Device Analytics
The increase in penetration of the Internet and IoT devices is expected to propel the growth of the connected device analytics market going forward. The Internet is a global network of interconnected computers, servers, phones, and smart appliances that communicate with each other using the transmission control protocol (TCP) along with other types of services. IoT devices refer to unconventional computing hardware that establishes wireless connections to a network, enabling the transmission of data. Connected device analytics in Internet penetration and IoT devices are crucial for gathering, combining, tracking, and extracting useful insights from the data produced by IoT devices. For instance, in November 2022, according to a publication by the International Telecommunication Union (ITU), a Switzerland-based United Nations agency, global Internet penetration reached an estimated 5.3 billion people, representing 66% of the world's population in 2022, with a growth of 6.1% over 2021. Furthermore, in August 2022, according to the Health Sector Cybersecurity Coordination Center (HC3), a US-based part of the Department of Health and Human Services (HHS) Cybersecurity Program, approximately 7 billion devices are connected through the Internet of Things (IoT) in 2022, and projections indicate substantial growth, with an estimated 20 billion additional devices expected to leverage this technology by the year 2025. Therefore, the increase in penetration of the Internet and IoT devices is driving the growth of the connected device analytics market.
Evolving Landscape Of Advanced Solutions In Connected Device Analytics
Major companies operating in the connected device analytics market are focusing on introducing advanced solutions, such as advanced connected digital analytics solutions, to gain a competitive edge in the market. Advanced connected digital analytics solutions encompass a range of sophisticated techniques and technologies that enable the comprehensive analysis of data from interconnected devices, such as IoT devices. For instance, in September 2021, Piano Software, Inc., a Netherlands-based company that provides software solutions, launched Piano Analytics, a new digital analytics solution. It is a connected device analytics solution that collects and integrates data from various sources, including web browsers, servers, and connected devices, such as smart speakers and televisions. This offers a privacy-centric digital analytics solution with a unified data approach, enabling organizations to collect, unify, and analyze diverse data sources for personalized experiences and detailed performance insights. This solution challenges established players by providing organizations with a powerful, compliant, and flexible analytics tool that empowers analysts to explore digital performance in detail.
The connected device analytics market covered in this report is segmented -
1) By Component: Solution, Services
2) By Device Connectivity: Wireless Personal Area Networks, Wireless Local Area Networks, Low-Power Wide Area Networks, Cellular Or Machine To Machine, Wired
3) By Deployment Mode: On-Premises, Cloud
4) By Application: Security And Emergency Management, Sales And Customer Management, Remote Monitoring, Predictive Maintenance And Asset Management, Inventory Management, Energy Management, Building Automation, Other Applications
5) By End User: Manufacturing, Transportation And Logistics, Energy And Utilities, Retail And E-commerce, Banking, Financial Services, And Insurance (BFSI), Healthcare And Life Sciences, Government And Defense, Other End Users
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Major companies operating in the connected device analytics market report are Google Inc., Microsoft Corporation, Verizon Communications Inc., Dell Technologies Inc., Huawei Technologies Co. Ltd., Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Ericsson AB, Salesforce Inc., Nokia Corporation, Adobe Inc., SAS Institute Inc., Infor, Splunk Inc., PTC Inc., Teradata Corporation, Software AG, TIBCO Software Inc., Cloudera Inc., QlikTech International AB, Guavus Inc., Arundo Analytics
Contents of the report:
1. Executive Summary
2. Connected Device Analytics Market Report Structure
3. Connected Device Analytics Market Trends And Strategies
4. Connected Device Analytics Market - Macro Economic Scenario
5. Connected Device Analytics Market Size And Growth
…..
27. Connected Device Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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