TMCnet News
Industrial Analytics Market to Reach $25 Billion by 2022 - Massive Surge in the Volumes of Industrial Data Across Industry Verticals Due to the Advent of IIoTDUBLIN, July 17, 2017 /PRNewswire/ -- The "Industrial Analytics Market - Global Forecast to 2022" report has been added to Research and Markets' offering.  The Global Industrial Analytics Market is expected to grow from USD 11.29 Billion in 2017 to USD 25.51 Billion by 2022, at a CAGR of 17.7%. The industrial analytics market is growing rapidly owing to the transition from traditional industrial Business Intelligence (BI) techniques to advanced BI and analytics techniques, and the massive surge in the volumes of industrial data across industry verticals due to the advent of IIoT. Factors such as lack of integration with organization culture and complex analytical process are expected to limit the market growth. Industrial analytics solutions have been deployed across various industry verticals, including telecommunications and IT, retail & consumer goods, manufacturing, energy & utilities, transportation & logistics, and others. The energy & utilities vertical is expected to grow at the highest CAGR during the forecast period, because of the increasing need for managing real-time data of Radio-Frequency Identifications (RFIDs), sensors, Rich Site Summary (RSS) feeds, smart meters, and smart grids. North America, followed by Europe, is expected to remain the largest revenue generating region for the industrial analytics vendors over the next 5 years. This is mainly due to the presence of Canada and the US, and the high focus on innovations through R&D, and technology across industry verticals in the region. APAC is expected to be the largest growing region in the industrial analytics market, because of the increasing adoption of IIoT and smart technologies, and government initiatives such as smart cities in countries including China and India. Companies Mentioned
Key Topics Covered: Media Contact: Research and Markets 
|