Connected Device Analytics Market Size, Share, Trends, Growth and Forecast 2032

Connected Device Analytics Market Insights

According to the report published by Zion Market Research, the global Connected Device Analytics Market size was valued at USD 26.4 Billion in 2023 and is predicted to reach USD 166.03 Billion by the end of 2032. The market is expected to grow with a CAGR of 22.67% during the forecast period. The report analyzes the global Connected Device Analytics Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Connected Device Analytics industry.

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Global Connected Device Analytics Market: Overview

Connected devices are the physical appliances that interconnect with the help of the internet. It connects systems like desktop computers and laptops to mobile devices like tablets or smartphones. However, the list is growing to fitness & health trackers, vehicles, cooling & heating devices, home appliances, environmental sensors, and several others. These devices integrate with advanced technology for collecting data, processing chips, and sharing them with other devices. Connected devices are controlled and monitored remotely. It connects with the help of the internet through different wireless and wired networks. The connected device analytics permit organizations to develop services and platforms that help them to effectively evaluate and manage real-time information streams from multiple data sources. It allows companies to protect, manage, and optimize business processes & operations, neutralize threats, improve product profitability, and efficiency.

Global Connected Device Analytics Market: Growth Factors

The growing adoption of remote surveillance for encouraging work-from-home trends along with the surging acceptance of technologies like smart payments is likely to steer the growth of the global connected device analytics market significantly in the forthcoming years. However, the adoption of work from home trend is also likely to encourage new practices and is posing huge demand for developing smart digital infrastructure for the implementation of heavy projects. Also, there has been a significant spike in the adoption of service technologies associated with the healthcare sector including wearable devices.

Furthermore, the high diffusion rate of Internet and internet of things devices among users globally is likely to complement the market growth significantly. However, the growing awareness regarding the requirement to extract real-time insights is likely to process the lucrative growth opportunities in the global connected device analytics market. The retail and e-commerce sectors are witnessing exponential growth over the past few years. In addition, the adoption of advanced technologies like connected devices will further proliferate these sectors. The e-commerce suppliers and retailers are likely to integrate the connected device analytics solutions to recognize the surging demand for the product and also maintain their inventory efficiently.

Also, the need among retailers to offer a comprehensive shopping experience with deep interactions to achieve a high level of customer involvement will also fuel the growth of the global connected device analytics market. Several other factors like offering training and knowledge to new employees along with new software accreditation every year will also encourage the demand for connected devices analytics. The large-scale integration of advanced technologies like machine learning and artificial intelligence are immensely blooming the adoption of connected device analytics globally. However, with the increasing utilization of internet of things devices, there is a high need for an operational intelligence-oriented data analyst panel to manage such a huge amount of data and information generated from connected devices.

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Global Connected Device Analytics Market: Segmentation

The global connected device analytics market can be segmented into industrial verticals, applications, organization size, component, and region.

By industry verticals, the market can be segmented into government & defense, healthcare & life sciences, BFSI, retail & e-commerce, energy & utilities, transportation, logistics, manufacturing, and others.

By application, the market can be segmented into building automation, energy management, inventory management, predictive maintenance, asset management, remote monitoring, sales customer management, security & emergency management, and others. The security & emergency management segment accounts for the largest share in the global market due to the growing emphasis of companies on lowering cyber threats and hacking to maintain data confidentiality and integrity across the IT infrastructure.

By organization size, the market can be segmented into small and medium-sized enterprises and large enterprises.

By component, the market can be segmented into services and solutions.

Connected Device Analytics Market: Report Scope

Global Connected Device Analytics Market: Regional analysis

North America accounts for the largest share in the global connected device analytics market due to the growing investments from the public and private sectors for the development of smart infrastructure and other projects. Also, the growing utilization of connected device analytic solutions in the region by several large and small organizations will further accentuate the growth of the regional market.

Asia Pacific is expected to be the fastest-growing region in the global connected device analytics market due to the ongoing technological advancements in the field of information technology. Also, the growing number of startups and small-medium enterprises in the region will exponentially fuel the growth of the regional market. The presence of prominent market leaders in the region offering innovative services is likely to support the growth of the regional market in the forthcoming years.

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
• Cisco Systems Inc.
• Teradata
• SAS Institute Inc
• SAP SE.

The Global Connected Device Analytics Market is segmented as follows:

By industrial verticals 

• government & defense 
• healthcare & life sciences
• BFSI
• retail & e-commerce 
• energy & utilities
• transportation 
• logistics 
• manufacturing
• and others

By applications 

• building automation
• energy management
• inventory management
• predictive maintenance
• asset management
• remote monitoring
• sales customer management
• security & emergency management
• and others

By organization size 

• small and medium-sized enterprises
• large enterprises

By component 

• services
• solutions 

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
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.