According to a new report Global Connected Device Analytics Market, published by KBV research, The Global Connected Device Analytics Market size is expected to reach $45 billion by 2026, rising at a market growth of 22.3% CAGR during the forecast period.
Among the various industry verticals, the retail and eCommerce segment is likely grow at the highest CAGR in the coming years. The retail and ecommerce vendors are preferring to adopt connected device analytics solutions in order to identify product demand and for efficient maintenance of their inventory. The manufacturing segment is anticipated to show rapid growth in the foreseeable period in the Connected Device Analytics Market. Due to the increasing growth of IIoT is one of the leading vertical in Connected Device Analytics Market that helps in applying a network of sensors that collect critical production data and it also uses cloud software that changes this data into valuable insights and makes manufacturing operations more efficient.
Among all these applications, security and emergency management are anticipated to secure the largest share of the market in the coming years. The emphasis of companies for a decrease in cyber threats and hacking in order to maintain their data confidentiality, availability, and integrity across the IT infrastructure are some of the factors that are attributed to the growth of the market. As hackers are tenacious in attacking the IoT devices will led to the emergence of new threats in the future so the “things” in IoT will require updatable solutions and services to increase their life span.
North America is anticipated to hold the largest market size of the global connected device analytics market, whereas Asia Pacific (APAC) is likely to rise at the highest CAGR in coming years. The increase in investments for the developments of smart cities, smart infrastructures, and IIoT projects in APAC will have positive impact on the growth of the market. The expected leading region for adopting and developing connected device analytics solutions is the North America. The growing investments in technologies like analytics, IoT, AI, and ML, at the same time the large presence of connected device analytics vendors along with for regulatory compliance the government support also is increasing are some of the major factors likely to contribute to the growth of the market in the forecast period.
Structural Insights: https://www.kbvresearch.com/connected-device-analytics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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