The Europe Connected Device Analytics Market would witness market growth of 21.4% CAGR during the forecast period (2020-2026). Remote work monitoring involves time tracking and it is an important tool in business the helps in boosting productivity and revenue. The remote monitoring has been adopted in business practices because many organizations hold this trend to allow flexibility to their workforce while working from home. The technology demand will prosperous enormously and also the increase in the application of technologies, like AI, ML, and IoT will be helpful in driving the growth of business revenue. Factors like training and knowledge transfer, new software approval, and infrastructure are contributing to business growth of the companies in the coming financial year.
Remote monitoring can be beneficial in improving teamwork capability with better productivity of the work therefore overcoming the limitations of the exposure to COVID-19. Verticals, like manufacturing, energy and utilities, logistics, and aviation are having challenges in maintaining reduced costs and managing asset tracking. The technologies, such as IoT, are adopted for remote monitoring and improving the processes like the collection of operational data and allow improvement in the asset management via a deeper data analysis that is expected to increase the growth of the companies’ post-COVID-19 pandemic.
The rise in the demand for the connected device analytics market in the coming years is attributed to the increasing adoption of the Internet of Things (IoT). While, it is beneficial in reducing the cost, improve monitoring, and maintenance service as it provides real-time data. Moreover, the IoT with the real-time data benefit will worth creating various opportunities such as increase its services in digital platforms for the businesses. Besides, it will advance efficiency and productivity to improve operations in the business environment. Therefore, the advanced monitoring technologies are continuously adopted and will benefit in providing additional operational data as well as improves asset management and data analysis that results in boosting the business's growth.
The Connected Device Analytics Market is witnessing a slowdown owing to the global lockdown. The lockdown has impacted the manufacturing facilities, and logistics & supply chain as the operational continuity has been badly impacted across verticals. Some of the verticals which are seeing the highest impacts are manufacturing, logistics & transportation, and food & retail. The lack of manpower has negatively impacted on production lines, transportation and supply resulted in unavailability of the essential items however the essential items has been given exemptions during the lockdown.
Based on Component, the market is segmented into Solutions and Services. Based on Deployment Type, the market is segmented into On-premises and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprise and Small & Medium Enterprise. Based on Application, the market is segmented into Security & Emergency Management, Inventory Management, Sales & Customer Management, Energy Management & Building Automation, Remote Monitoring, Predictive Maintenance & Asset Management and Others. Based on Industry Vertical, the market is segmented into Manufacturing, Energy & Utilities, Healthcare, Retail & eCommerce, Government & Defense, Transportation & Logistics, BFSI and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Connected Device Analytics Market in Europe is expected to register a CAGR of 21.4% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Amazon.com, Inc., General Electric (GE) Co., Google, Inc., Salesforce.com, Inc., Adobe, Inc., Hewlett Packard Enterprise Company, and Hitachi, Ltd.
Market Segmentation:
By Component
By Deployment Type
By Enterprise Size
By Application
By Industry Vertical
By Country
Companies Profiled
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