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The Global Connected Device Analytics Market is Estimated to be $14.9 Bn in 2021 and is Forecasted to Reach $49.86 Bn by 2027, Growing at a CAGR of 22.3%DUBLIN, Nov. 26, 2021 /PRNewswire/ -- The "Global Connected Devices Analytics Market (2021-2027) by Component, Device Connectivity, Application, Deployment, Organization Size, Industry Vertical, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. The Global Connected Device Analytics Market is estimated to be USD 14.9 Bn in 2021 and is expected to reach USD 49.86 Bn by 2027, growing at a CAGR of 22.3%. Key factors such as a rapid rise in remote monitoring of employees working from home during the Covid-19 crisis have necessitated a need for connected devices in different industry verticals. This has been a prominent driver for the overall connected devices analytics market growth. Also, the increased penetration of the internet and IoT devices has led to a demand for these solutions. The growing adoption of smart payment methods is additionally supporting the growth of the market. Conversely, the lack of skilled force required to handle the latest software systems based on IoT & AI, lack of security is likely to hinder the market growth. The growing need to generate real-time insights that can be acted upon in real-time through IoT sensors data will create a tremendous opportunity for the connected devices market players. Market Dynamics Drivers
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Segments Covered By Component, the Solutions segment is estimated to hold the highest market share. These solutions can help in understanding and improving the digital customer experience, attract and retain users, and analyze operations & actions taken across connected devices. Besides, they reduce the overall operational time, cost, and required expertise. Therefore, the solutions segment for connected devices analytics is likely to grow during the forecast period. By Application, the Security and Emergency Management segment is estimated to hold the higest market share. The growth in the segment is high due to the increasing focus of the organization to reduce cyber attacks and hacking to achieve data confidentiality and integrity. This has led to segmental growth. By Deployment, the market is classified as cloud-based and on-premise. Amongst the two, the Cloud-based deployment is estimated to hold the highest market share. Cloud-based deployments offer the benefits of cost-effectiveness along with scalability, which has led to higher adoption rates amongst the enterprises, thereby indicating market segment growth. By Organization Size, Large Enterprises are increasingly using connected devices because of work from home initiative during a lockdown situation. Large Enterprises can afford to invest in IoT devices that are required for daily operations such as video conferencing, downloading or uploading large files, etc. Hence, the market share of large enterprises in connected devices analytics is more. By Industry Vertical, the Retail and Ecommerce Segment is estimated to hold the highest market share. In order to identify product demand and maintain the inventory efficiently, the retail and eCommerce segment is adopting connected devices analytics. The growing need of retailers to deliver a better shopping experience with personalized interactions with customers has further compelled a need for an efficient, connected devices solution. By Geography, North America is projected to lead the market. The factors attributed to the growth of the market are the rising investments in advanced technologies such as IoT, analytics, AI, and ML, the large presence of connected device analytics market players, and supportive government policies. Asia Pacific region is also expected to witness a high CAGR during the forecast period. The increasing investments by the technolgy companies in countries such as China and Japan, increasing government regulations is expected to drive the growth of the market in APAC. Company Profiles Some of the companies covered in this report are IBM Corporation, SAS Institute Inc, Oracle Corporation, PTC, AWS, Hitachi, SAP SE, TIBCO Software, GE, Cloudera, Adobe, Google, Amazon.com, Software AG, etc.
Key Topics Covered: 1 Report Description 2 Research Methodology 3 Executive Summary 4 Market Overview 5 Market Analysis 6 Global Connected Device Analytics Market, By Component 7 Global Connected Device Analytics Market, By Device Connectivity 8 Global Connected Device Analytics Market, By Application 9 Global Connected Device Analytics Market, By Deployment Mode 10 Global Connected Device Analytics Market, By Organization Size 11 Global Connected Device Analytics Market, By Industry vertical 12 Global Connected Device Analytics Market, By Geography 13 Competitive Landscape 14 Company Profiles For more information about this report visit https://www.researchandmarkets.com/r/uetk76 Media Contact: Research and Markets SOURCE Research and Markets |