Analytics of Things Market is estimated to grow with a CAGR of 19.80% during the forecast period

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Published Date: May 2023

Analytics of Things Market size was valued at USD 335.69 billion in 2020 and expected to expand to USD 2013.02 billion at a compound annual growth rate (CAGR) of 19.8%. Analytics of Things (AoT) derives meaning from enormous data created by IoT devices, allowing businesses to make more informed decisions and enhance overall operations. Diagnostic, descriptive, predictive, prescriptive, and automated AoT are the different categories. It is a new frontier in analytics that faces numerous problems, such as data collecting during AoT adoption. Furthermore, limited data is extracted from vast databases and examined for decision-making.

The report " Global Analytics of Things Market, By Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), By Component (Software and Services), By Vertical (Telecommunications &IT, Manufacturing, Transportation &Logistics, Healthcare &Life Sciences, and Energy & Utilities),By Application (Sales &Customer Management, Predictive Maintenance &Asset Management, Energy Management, Inventory Management, Security &Emergency Management, Building Automation, IT Infrastructure Management, and Remote Monitoring), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030’’

Key Highlights:

Teradata, a business that specialises in big data analytics and marketing applications, has announced plans to open IoT Analytics centres in India, the United States, and the United Kingdom. The units will concentrate on developing new ideas to get the most out of the Analytics of Things (AoT).
In 2021, Oracle launches a new cloud analytics solution

Analyst View:

The use of analytics of things is accelerating as the demand for improved technologies and cost-effectiveness grows. Users can acquire just-in-time information with IoT analytics. Because of high-tech sensor cooperation, generating useful data has become simple. Enterprises can use the extracted data to make better real-time decisions.The adoption of analytics of things is accelerating due to the ease of setup and lower component costs. Building automation, infrastructure management, and security management are all applications that leverage Internet of Things (IoT) analytics. It also makes it easier to analyse the huge volumes of data created by the Internet of Things. It aids in the connection, management, transformation, aggregation, and processing of data, as well as the provision of real-time insights. Cost optimization, scalability, and real-time evaluating are among the advantages offered by the solutions to businesses. Over the projection period, these factors are expected to give the market a significant boost.

Key Market Insights from the report:

The Global Analytics of Things Market size was valued at USD 1.54 billion in 2020 and expected to expand to USD 2.57 billion at a compound annual growth rate (CAGR) of 5.30%. The global analytics of things market report segments the market on the basis of type, component, vertical, application, and region.

Based on Type, Global Analytics of Things Market is segmented into Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics.
Based on Component, Global Analytics of Things Market is segmented into Software and Services.
Based on Vertical, Global Analytics of Things Market is segmented into Telecommunications &IT, Manufacturing, Transportation &Logistics, Healthcare &Life Sciences, and Energy & Utilities.
Based on Application, Global Analytics of Things Market is segmented into Sales &Customer Management, Predictive Maintenance &Asset Management, Energy Management, Inventory Management, Security &Emergency Management, Building Automation, IT Infrastructure Management, and Remote Monitoring.
By Region, the Global Analytics of Things Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Analytics of Things Market:

The key players operating in the Global Analytics of Things Market includes Hewlett Packard Enterprise Company, Cisco Systems, Inc., Dell Technologies, Inc., Google, Inc., Amazon Web Services com, Inc., Teradata Corporation, IBM Corporation, Microsoft Corporation and Oracle Corporation

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period