Analytics of Things Market Size, Share, Trends, Growth 2032

Analytics of Things Market Insights

According to Zion Market Research, the global Analytics of Things Market was worth USD 25.56 Billion in 2023. The market is forecast to reach USD 283.2 Billion by 2032, growing at a compound annual growth rate (CAGR) of 30.64% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Analytics of Things Market industry over the next decade.

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The report gives a transparent view of the analytics of things market. We have included a detailed competitive scenario and portfolio of the leading vendors operating in the analytics of things market. To understand the competitive landscape in the analytics of things market, an analysis of Porter’s Five Forces model for the analytics of things market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Analytics of Things Market: Growth Drivers

Analytics of things (AoT) studies data generated via the Internet of things (IoT) devices. AoT is integrated with business analytics and is majorly used to enable IoT devices to make better decisions. AoT is merged with IoT for proper observation of the data collected. The data collection process has become easier due to the adoption of high-tech sensors. This collected data can be used by organizations for making improved real-time decisions.

Furthermore, AoT is expected to have huge potential globally, due to its growing success in the business field, as it helps organizations to better optimize, manage, and predict business operations and methods to improve efficiency and profitability and neutralize threats. Organizations are increasingly investing huge amounts in hiring skilled human resources and advanced technology for their growth.

The main growth driver of the global analytics of things market is the increasing use of the Internet of Things. IoT is used in various sectors, such as infrastructure management, security management, and automation. To analyze the data collected by these sectors, AoT is necessary, as it helps in transforming, aggregating, managing, and processing data to provide real-time insights regarding the information collected. Additionally, the demand for cost-effective analytical software is projected to drive the analytics of things market globally. However, the lack of skilled workforce due to the complex nature of AoT may slowdown the analytics of things market globally.

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Analytics of Things Market: Segmentation

The analytics of things market is fragmented on the basis of type, deployment type, component, and end-user.

On the basis of type, the market includes prescriptive analytics, descriptive analytics, automating analytics, diagnostic analytics, and predictive analytics.

The end-user segment comprises retail, manufacturing, healthcare, BFSI, and others. The healthcare sector is anticipated to grow considerably in the years ahead, owing to the data availability from IoT that aids in analyzing the data efficiently.

Moreover, the data gives real-time alerts to doctors and helps in continuous data observation and obtain actionable insights. Furthermore, due to technological advancements and increased rivalry, the manufacturing sector is expected to lead in the upcoming years.

Analytics of Things Market: Report Scope

Analytics of Things Market: Regional Analysis

The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe.

The North American analytics of things market is expected to grow rapidly in the future, owing to the growing AoT demand by the region’s financial and technological sectors. These sectors need constant innovation, which requires consistent research and development activities. AoT can, thus, help the research sector by analyzing the data collected by IoT. The Asia Pacific analytics of things market is anticipated to witness steady growth in the years ahead, owing to the presence of technologically advanced economy of Japan and developing nations of China and India.

Analytics of Things Market: Competitive Analysis

The global analytics of things market is dominated by players like:

• Google
• Amazon Web Services
• Hewlett Packard
• Cisco Systems
• Greenwave Systems
• Capgemini
• Hitachi
• IBM
• Oracle
• GE
• Microsoft Corporation
• Intel Corporation

This report segments the global analytics of things market into:

Global Analytics of Things Market: By Type

• Automating Analytics
• Descriptive Analytics
• Diagnostic Analytics
• Prescriptive Analytics
• Predictive Analytics

Global Analytics of Things Market: By Deployment Type

• On-Demand
• On-Premises

Global Analytics of Things Market: By Component

• Software

• Sensor Data Analytics
• IoT Gateway Analytics
• Network Management

• Services

• Managed Services
• Professional Services
• Others

Global Analytics of Things Market: By End-User

• BFSI
• Healthcare
• Retail
• Manufacturing
• Others

Global Analytics of Things Market: Regions Covered

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa