Influence Of Internet And IoT Device Growth On Connected Device Analytics: Key Factor Driving The Growth In The Connected Device Analytics Market

The Connected Device Analytics Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Connected Device Analytics Market Size Expected to Be by 2034?
In recent times, the market size of connected device analytics has observed significant growth. It is projected to escalate from a valuation of $35.79 billion in 2024 to an estimated $44.28 billion in 2025, showcasing a compound annual growth rate (CAGR) of 23.7%. Driving factors for this historical surge include the advancement of AI-powered predictive analytics, increased cross-platform integration, broadening of IoT ecosystems, data monetization along with the increased demand for hybrid and multi-cloud deployments, and analytics solutions that cater to specific verticals.

The market size of connected device analytics is projected to experience remarkable expansion in the forthcoming years, reaching $103.15 billion in 2029 with a compound annual growth rate (CAGR) of 23.5%. This projected increase during the forecast period could be due to various factors such as the uptake of 5G networks, an emphasis on analytics in cybersecurity, the spread of smart cities and infrastructure, the upswing in remote monitoring and telehealth, and the acceptance of digital twins. The forecast period will also see significant trends such as the widespread use of IoT devices, the need for insights in real-time, the evolution of cloud computing, the growth of edge computing, and an increasing interest in predictive maintenance.

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What Are the Emerging Segments Within the Connected Device Analytics Market?
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

Subsegments:
1) By Solution: Device Management, Data Analytics, Network Management, Security Management
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services

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What Long-Term Drivers Are Shaping Connected Device Analytics Market Trends?
The emergence of Internet and IoT devices is projected to fuel the connected device analytics market's expansion. The Internet brings together an international network of interlinked computers, servers, phones, and smart appliances that communicate through the transmission control protocol (TCP) and other services. On the other hand, IoT devices are unconventional computing devices that establish wireless connections to a network, enabling data transmission. The role of connected device analytics in Internet penetration and IoT devices is pivotal for data collection, integration, monitoring, and extracting meaningful insights from the data generated by IoT devices. For instance, a November 2022 report by the International Telecommunication Union (ITU), a UN agency based in Switzerland, stated that global Internet penetration touched around 5.3 billion people, accounting for 66% of the global population, depicting 6.1% growth over 2021. Moreover, a disclosure by the Health Sector Cybersecurity Coordination Center (HC3), a division of the US Department of Health and Human Services (HHS) Cybersecurity Program in August 2022, estimated around 7 billion devices connected through the Internet of Things (IoT) in 2022, with forecasts suggesting significant growth, projecting an additional 20 billion devices to join this technology by 2025. Consequently, the rising penetration of the Internet and IoT devices is propelling the growth of the connected device analytics market.

Who Are the Top Competitors in Key Connected Device Analytics Market Segments?
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

What Connected Device Analytics Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the connected device analytics market are honing their competitive edge by launching sophisticated solutions like connectivity and transaction platforms. This kind of platform is a digital infrastructure that lets devices, applications, and systems communicate and exchange data without a hitch, enhancing efficiency, safety, and functionality, and thereby prompting innovation in various sectors. For example, in February 2022, the British telecommunications firm, Vodafone Group Plc, rolled out the Digital Asset Broker (DAB) - a worldwide platform intended to improve the linked device landscape by allowing secure, automated transactions for its users. By leveraging Vodafone's expansive Internet of Things (IoT) network boasting over 140 million connections, DAB grants verified devices the ability to execute digital asset trades seamlessly and safely with no need for human intervention, all while retaining absolute control for the device owners. The platform employs the power of advanced blockchain technology to confirm secure and dependable exchanges, permitting real-time financial transactions and simplifying the combination of connected devices in numerous sectors.

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Which Regions Are Becoming Hubs for Connected Device Analytics Market Innovation?
North America was the largest region in the connected device analytics market in 2024. Asia-Pacific is expected to be fastest growing region in the forecast period. The regions covered in the connected device analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Connected Device Analytics Market?
2. What is the CAGR expected in the Connected Device Analytics Market?
3. What Are the Key Innovations Transforming the Connected Device Analytics Industry?
4. Which Region Is Leading the Connected Device Analytics Market?

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