The increasing development of smart cities, smart homes, and smart factories are driving the market for IoT Analytics.
IoT Analytics Market Size – USD 16.29 Billion in 2020, Market Growth – CAGR of 26.70%, Market Trends – The increasing adoption of IoT in emerging nations.
The global Iot Analytics Market is forecast to reach USD 109.81 Billion by 2028, according to a new report by Reports and Data. IoT analytics is the application for analyzing the data generated from the connected IoT devices. The growing adoption of IoT devices from different industries for sharing of data and enhancing their productivity with real-time monitoring is driving the global IoT analytics market.
Governments across the globe are investing highly in the development of smart cities, which is also increasing the demand for IoT devices, and with the rise in the number of IoT devices, the need for analysis of data is also required to predict the demand of the users. Benefits of IoT analytics is that it can analyze the productivity of the machines and can also track the issues in a particular part or equipment of the devices.
Retail shops and hospitals are using IoT analytics to predict and understand the customers or patients’ behaviors and plan a strategy accordingly to engage the customers. The IoT analytics are used in industries such as e-commerce, healthcare, retail, manufacturing, and others by analyzing the functionality of the systems or products from the data generated from these systems or devices.
Key participants include Microsoft Corporation, IBM, Cisco, Amazon Web Services, Oracle, Dell Technologies, Hitachi, Salesforce.Com, PTC, Mnubo, and Google, among others.
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Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/iot-analytics-market
For the purpose of this report, Reports and Data have segmented into the global IoT Analytics market on the basis of component, analytics time, organization size, deployment mode, end-users, and region:
Component Outlook (Revenue: USD Billion; 2018-2028)
Analytics Time Outlook (Revenue: USD Billion; 2018-2028)
Organization Size Outlook (Revenue: USD Billion; 2018-2028)
Deployment Mode Outlook (Revenue: USD Billion; 2018-2028)
End Users Outlook (Revenue: USD Billion; 2018-2028)
Regional Outlook (Revenue: USD Billion; 2018-2028)
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