Global Connected Device Analytics Market – Industry Trends and Forecast to 2030

Global Connected Device Analytics Market, By Component (Solution, Services), Device Connectivity (Wireless Personal Area Networks, Wireless Local Area Networks, Low-Power Wide Area Networks, Cellular/Machine To Machine, Wired), Deployment Mode (On-Premises, Cloud), Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), Application (Security and Emergency Management, Sales and Customer Management, Remote Monitoring, Predictive Maintenance and Asset Management, Inventory Management, Energy Management, Building Automation, Others), End User (Manufacturing, Transportation and Logistics, Energy and Utilities, Retail and e-commerce, BFSI, Healthcare and Life Sciences, Government and Defense, Others) - Industry Trends and Forecast to 2030.

Connected Device Analytics Market Analysis and Size

Connected device analytics is a cloud-based platform that is used to enhance the customer communications platform by delivering connectivity between applications, people, and objects. Connected device analytics leads the way to enhance the new age of connectivity. The delivery model enables the addition of messaging features, voice, and video to the existing business software with the integration of APIs. Connected device analytics is deployed by business enterprises that look to include communication in their business applications.

Data Bridge Market Research analyzes that the connected device analytics market is expected to reach USD 110,250.18 million by 2030, from USD 22,027.62 million in 2022 and is expected to undergo a CAGR of 22.3% during the forecast period of 2023 to 2030. “Solution” dominates the components segment of the connected device analytics market due to demand from growing markets. Rise in the focus on remote monitoring in support of work from home (WFM) initiativeis expected to influence the growth of Sensor Hub market over the forecast period of 2023 to 2030. The rise in the data volumes across the globe is one of the major factors driving the growth of the Sensor Hub market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

The connected device analytics helps to allow the companies to create platforms and services which enable them to proficiently manage and examine real-time information streams from diverse data sources. This facilitates companies to manage, better optimize and envisage business processes and operations as well as also improves the profitability and effectiveness and neutralizes threats.

Global Connected Device Analytics Market Dynamics

Driver

• Rise in the focus on remote monitoring in support of work from home (WFM) initiative

The rise in the focus on remote monitoring in support of work from home (WFM) initiative is expected to influence the growth of connected device analytics market over the forecast period of 2021 to 2028. Also the increase in the adoption of smart payment technologies and rise in the business need to build digital infrastructure for large-scale deployments are also anticipated to flourish the growth of the connected device analytics market. Furthermore, the rise in the penetration of the internet and IoT devices is also likely to positively impact the growth of the market.

Opportunity

• Rise in the investments in developments of various smart infrastructures

Moreover, the rise in the investments in developments of various smart infrastructures and smart cities and the rise in the government support for regulatory compliance are also expected create a huge demand for connected device analytics as well as lifting the growth of the connected device analytics market.

Restraints/Challenges

• Legacy database technologies restraining IoT product integration

However, the legacy database technologies restraining IoT product integration and dearth of skilled professional workforce are expected to act as the major limitations for the growth of connected device analytics in the above mentioned forecasted period, whereas the rise in the cyber security concerns and decline in industrial operation and manufacturing operations can challenge the connected device analytics market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In June 2020, Microsoft acquired CyberX to solve the challenges of customers by giving customers visibility into loT devices that are connected to their networks and manage the security on the existing lot devices
• In June 2020, IBM and Siemens partnered to deliver a service life cycle management solution. The solution combines elements of Siemens' Xcelerator portfolio and IBM Maximo to continuously improve product performance, maintenance, and operations. The solution also enables OEMs to receive critical data about asset performance, maintenance, and failures in the field

Global Connected Device Analytics Market Scope

The  connected device analytics market is segmented on the basis of component, device connectivity, deployment mode, organization size, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Solution
• Services

Device Connectivity

• Wireless Personal Area Networks
• Wireless Local Area Networks
• Low-Power Wide Area Networks
• Cellular/Machine To Machine
• Wired

Deployment Mode

• On-Premises
• Cloud

Organization Size

• Large Enterprises
• Small and Medium-Sized Enterprises

Application

• Security and Emergency Management
• Sales and Customer Management
• Remote Monitoring
• Predictive Maintenance and Asset Management
• Inventory Management
• Energy Management
• Building Automation
• Others

End User

• Manufacturing
• Transportation and Logistics
• Energy and Utilities
• Retail and e-commerce
• BFSI
• Healthcare and Life Sciences
• Government and Defense
• Others

Global Connected Device Analytics Market Region Analysis/Insights

The connected device analytics market is analyzed and market size insights and trends are provided by country, component, device connectivity, deployment mode, organization size, application and end user industry as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, therRest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of the Middle East and Africa

North America is expected to dominate the market because North America is home to renowned research institutions, universities, and technology companies that conduct cutting-edge research in photonics and integrated circuit technologies. This strong R&D ecosystem fosters innovation and drives advancements in Sensor Hub circuits.

Asia-Pacific is expected to be fastest-growing country in the connected device analytics market due to the fact that Asia-Pacific region has a large and rapidly growing population, along with a significant increase in internet usage and data consumption. This drives the demand for high-speed and efficient communication networks, which can benefit from the use of Sensor Hub circuits. PICs are capable of integrating multiple optical components on a single chip, making them well-suited for high-speed data transmission and communication applications.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.   

Competitive Landscape and Global Connected Device Analytics Market Share Analysis

The connected device analytics market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the connected device analytics market.

Some of the major players operating in the connected device analytics market are:

• Microsoft (U.S.)
• Oracle (U.S.)
• SAP SE (Germany)
• IBM (U.S.)
• Amazon Web Services, Inc. (U.S.)
• Cisco Systems, Inc. (U.S.)
• Google (U.S.)
• Adobe (U.S.)
• Teradata (U.S.)
• Hitachi, Ltd. (Japan)
• Hewlett Packard Enterprise Development LP (U.S.)
• SAS Institute Inc. (U.S.)
• Software AG (Germany)
• GE DIGITAL (U.S.)
• TIBCO Software Inc. (U.S.)
• Cloudera, Inc. (U.S.)
• QlikTech International AB (Sweden)
• Splunk Inc. (U.S.)
• Infor (U.S.)
• ARUNDO (Norway)