Sensor Data Analytics Market to nearly $45.2 billion by 2031

The global 𝐒𝐞𝐧𝐬𝐨𝐫 𝐃𝐚𝐭𝐚 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 was valued at $11.8 billion in 2021, and is projected to reach $45.2 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031. Escalating demand for wearables and a surge in the launching of new sensors drive the growth of the global sensor data analytics market. Furthermore, increment in the application of visual real-time sensor data will boost the expansion of the market. Nevertheless, huge installation costs and lack of availability of skilled persons will hinder the market growth. In addition, lack of awareness about sensor data analytics will impede the growth of the global industry. However, the onset of the internet of things and the launching of improved sensors will open new vistas of growth for the global market.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 450 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/4434

Sensor data analytics is an analytics platform built to analyses the data streamed or collected from sensors and IoT devices. Furthermore, Rise in demand for wearables and increase in introduction of advanced sensors is driving the growth of sensor data analytics market. Moreover, rise in demand for various visualized real-time sensor data and information are boosting the sensor data analytics market size. However, high cost associated with installation and lack of skilled professionals and lack of awareness about sensor data analytics restrict the sensor data analytics market growth. On the contrary, increased usage of internet of things (IoT) and introduction of improved sensors are expected to offer remunerative opportunities for expansion during the sensor data analytics market forecast.

Depending on industry vertical, manufacturing segment holds the largest sensor data analytics market share owing to monitor the performance of various processes and aspects of machine operation. However, healthcare is expected to witness growth at the highest rate during the forecast period due to increase demands for fitness trackers or wearables majorly health monitoring functionalities, like blood oxygen levels, heart rate, and so on, can influence its market demand further.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/sensor-data-analytics-market/purchase-options

On basis of the analytical technique, the predictive analytics segment is set to contribute nearly two-fifths of the global sensor data analytics market in 2031. Furthermore, the same segment is anticipated to record the fastest CAGR of 15.59% over the forecast period. The growth of the segment over the forecast period can be attributed to the ability of predictive analytics in alerting businesses about the likelihood of the event occurring as well as outcome occurrence. The report also includes other segments such as descriptive analytics and prescriptive analytics.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

Agt International Inc.
Cisco Systems Inc.
Cloudera, Inc.
FogHorn Systems, Inc.
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.

The report analyzes these key players in the global sensor data analytics market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/4434

In terms of the industry vertical, the manufacturing segment contributed to the highest market share in 2021, accounting for more than one-fourth of the global sensor data analytics industry share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The expansion of this segment over the forecast timeline is due to an increment in automation and digitalization trends in the manufacturing industry. However, the healthcare segment is predicted to register the fastest CAGR of nearly 16.9% from 2022 to 2031. The segmental surge can be due to the massive use of sensor data analytics in healthcare and medicine, complex medical diagnoses, and healthcare insurance fraud detection.

Based on the model, the real-time sensor analytics segment contributed to the highest market share in 2021, accounting for more than half of the global sensor data analytics market share. Reportedly, this segment is predicted to contribute majorly toward overall market share by 2031. The growth of the segment over the forecast period can be attributed to the ability of real-time sensor analytics in fulfilling a variety of needs including workflow enhancement, understanding consumer behavior, and knowing climate change. Furthermore, the real-time sensor analytics segment is predicted to register the fastest CAGR of nearly 15.91% from 2022 to 2031. The report also analysis other segments such as ad-hoc sensor analytics.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/4434

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By offering, the solution segment accounted for the largest sensor data analytics market share in 2021.

By region, North America generated highest revenue in 2021.

By industry vertical, the manufacturing segment generated the highest revenue in 2021.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

By Region, North America contributed notably in 2021, and is projected to continue its dominance during the forecast period. The region accounted for nearly two-fifths of the global sensor data analytics market in 2021. The growth of the market in the region over the forecast timespan can be credited to higher spending on data analytics and data processing solutions in the region. However, the Asia-Pacific region is anticipated to record the fastest CAGR of 17.14% from 2022 to 2031. The growth of the regional market over the forecast period can be attributed to the rise in penetration of sensor data analytics in the region due to the rapid digital and economic transformation witnessed in the Asia-Pacific region.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Speech Analytics Market - https://www.globenewswire.com/en/news-release/2023/02/16/2609432/0/en/Speech-Analytics-Market-Is-Expected-to-Reach-4-9-Billion-by-2031-Says-AMR.html

Emotion Analytics Market - https://www.globenewswire.com/news-release/2023/02/07/2602852/0/en/Emotion-Analytics-Market-Is-Expected-to-Reach-10-51-Billion-by-2031-Says-AMR.html

Workforce Analytics Market - https://www.alliedmarketresearch.com/workforce-analytics-market-A06073

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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