Global Connected Device Analytics Market By Size, Share, and Forecast 2028

By Jack On Feb 10, 2023

The global connected device analytics market is expected to develop at a CAGR of 23.0% from USD 14.3 billion in 2020 to USD 40.3 billion by 2028.

Connected device analytics marketplaces are actual appliances that communicate with one another via the internet. It connects desktop PCs and laptops to mobile devices such as tablets and smartphones. However, the list is growing to include fitness and health trackers, autos, cooling and heating systems, home appliances, environmental sensors, and a range of other devices. These devices employ cutting-edge technology to collect data, process chips and share it with other devices. For connected devices, remote control and monitoring are available. It connects to the internet via multiple wireless and wired networks.

Organizations can utilize connected device analytics to build services and platforms that help them successfully assess and manage real-time information streams from a variety of data sources. It enables businesses to protect, monitor, and optimize organizational processes and operations, as well as mitigate dangers.

Global Connected Device Analytics Market: Growth Factors

The increasing use of remote surveillance to support work-from-home trends, as well as the increased acceptance of technologies such as smart payments, are likely to boost the worldwide connected device analytics market significantly in the coming years. However, the trend of working from home is expected to inspire new behaviors and create a huge need for sophisticated digital infrastructure for large-scale project implementation. Furthermore, the use of healthcare-related service technologies such as wearable devices has increased significantly.

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Furthermore, the widespread use of the Internet and internet of things devices among people worldwide is expected to considerably contribute to market growth. The growing awareness of the need to extract real-time information, on the other hand, is likely to fuel the potential growth opportunities in the global connected device analytics market. Over the last few years, the retail and e-commerce sectors have grown at an exponential rate. Furthermore, the use of new technology such as connected gadgets will accelerate the growth of these sectors. E-commerce providers and merchants are likely to integrate connected device analytics solutions in order to recognize rising product demand and efficiently manage inventories.

Global Connected Device Analytics Market: Segmentation

The global market for connected device analytics may be divided into industrial verticals, applications, organization size, components, and geography.

The market may be divided into industry verticals such as government defense, healthcare life sciences, BFSI, retail e-commerce, energy utilities, transportation, logistics, manufacturing, and others.

The market may be divided into applications such as building automation, energy management, inventory management, predictive maintenance, asset management, remote monitoring, sales customer management, security emergency management, and others. Because of the increased emphasis of enterprises on reducing cyber threats and hacking to protect data confidentiality and integrity across the IT infrastructure, the security and emergency management segment accounts for the largest proportion of the global market.

The market can be divided into small and medium-sized firms and large enterprises based on organization size.

The market is divided into two components: services and solutions.

Global Connected Device Analytics Market: Regional Analysis

North America holds the greatest share of the worldwide connected device analytics market, owing to increased public and private sector investments in smart infrastructure and other initiatives. Furthermore, the increasing use of connected device analytic solutions in the region by both large and small enterprises will fuel regional market expansion.

Global Connected Device Analytics Market: Competitive Players

Some of the key players in the global connected device analytics market are Oracle Corporation, Google LLC., Software AG, Amazon Web Services, Huawei Technologies Co. Ltd., Microsoft Corporation, PTC Inc., Intel Corporation, International Business Machines Corporation, and Cisco Systems Inc., Teradata, SAS Institute Inc, and SAP SE.

Global Connected Device Analytics Market: Regional Segment Analysis

North America

The U.S.

Canada

Europe

France

The UK

Spain

Germany

Italy

Rest of Europe

Asia Pacific