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. A large amount of data is collected by IoT connected devices, and the value of these devices are equal to the critical information that they gather.
New York, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Connected Device Analytics Market By Component, By Deployment Type, By Enterprise Size, By Application, By Industry Vertical, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p05975414/?utm_source=GNW
The demand of such devices is growing due to the steady rise in the use of IoT services for different applications in various sectors. Consequently, the connected device analytics market is permitting companies to make platforms and services that can assist them to analyze real-time information streams and efficiently manage from diverse data sources. This allows companies to better improve, manage, analyze and predict the processes and operations of the business, helps in improving efficiency and profitability, and also neutralize threats.
The increasing effort on remote monitoring for supporting the initiative of work from the home and rising adoption of technologies like smart payment are factors that majorly driving the market growth of connected device analytics. Furthermore, the increased penetration of the internet and also the adoption of IoT devices are expected to increase the growth of the connected devices analytics market. The growing focus on remote monitoring to support the initiative of work from home, increasing adoption of smart payment technologies, and the need of the business to build a digital infrastructure for enormous deployments, are the major growth drivers of this market. The major growth drivers of the market include the increasing focus on remote monitoring in support of work from the home initiative, growing adoption of smart payment technologies, and business need to build a digital infrastructure for large-scale deployments.
The outbreak of COVID-19 has affected markets has a significant impact on the economies and societies. Due to the global lockdown and lack of workforce, the connected device analytics companies are showing a slowdown. As most impending IoT and analytics projects are kept on hold due to the pandemic, the competition among major companies of connected device analytics is expected to intensify. This pandemic has led to practicing new things, like work for home and social distancing, and these are creating the need for smart payment technologies, remote monitoring, and building the digital infrastructure for deployment at a large scale. The demand for health-related wearable devices has been an increase in with the increased focus on health. The connected device analytics market is anticipated to see a slowdown due to the global lockdown in 2020. The global manufacturing, and supply chains and logistics have negative impact of 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 Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; IBM Corporation, Amazon.com, Inc., Oracle Corporation, Microsoft Corporation, and Google, Inc. are the forerunners in the Connected Devices Analytics Market. Companies such as SAP SE, Salesforce.com, Inc., General Electric (GE) Co., Adobe, Inc., Hitachi, Ltd., and Hewlett Packard Enterprise Company are some of the key innovators in Connected Devices Analytics Market.
The market research report covers the analysis 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.
Recent strategies deployed in Connected Devices Analytics Market
Partnerships, Collaborations, and Agreements:
Jun-2020: IBM came into partnership with Siemens, a multinational conglomerate company, and the largest industrial manufacturing company. The partnership was focused on delivering a service life cycle management solution. The solution integrated elements of Siemens’ Xcelerator portfolio and IBM Maximo to continuously improve product performance, maintenance, and operations. The solution also enabled OEMs to receive critical data about asset performance, maintenance, and failures in the field.
Jun-2020: Salesforce collaborated with Siemens for their workplace management tools in a new IoT suite. This collaboration was aimed to help businesses reopen after lockdown and embrace new practices for physical workplaces. The partnership integrated Salesforce’s Work.com sales performance management platform with Siemens’ various workplace gadgetry from its ‘smart infrastructure solutions’, including its space optimization application Comfy and its IoT-based buildings management business, Enlighted.
Jun-2020: Hitachi came into partnership with Microsoft for accelerating the digital transformation of the manufacturing and logistics industries across Southeast Asia, North America, and Japan. Hitachi would integrate its industry-leading solutions, such as Lumada, and its IoT-ready industrial controllers HX Series, with the Microsoft cloud platform, using Azure, Dynamics 365, and Microsoft 365 to help businesses increase their workforce productivity and operational efficiency.
Feb-2020: Amazon Web Services announced its collaboration with Carrier Corporation, a maker of air conditioners and building management products. The latter company used AWS to collect data from those systems, as well as analyzed the data using the cloud platform’s AI services to improve the user experience.
Jan-2020: Microsoft collaborated with Luxoft, a technology company for accelerating the delivery of connected vehicle solutions and mobility experiences. By using MCVP (Microsoft Connected Vehicle Platform), DXC Technology’s digital arm Luxoft would enable the automakers to deliver features such as advanced vehicle diagnostics, remote access and repair, and preventive maintenance.
Nov-2019: SAP signed an agreement with SnapLogic, a provider of the Intelligent Integration Platform. The agreement was aimed to help enterprises quickly and easily ingest, prepare, and deliver data from hundreds of applications and data sources into the new SAP Data Warehouse Cloud solution, the latest addition to the SAP HANA Cloud Services.
Oct-2019: SAP entered into collaboration with Verizon, a telecommunications company. The collaboration enabled applications to process data where it is generated from an assembly line to a retail store shelf helping businesses save time and increase productivity.
Aug-2019: IBM announced its collaboration with Arrow Electronics, Inc. and National Instruments. The collaboration was aimed to offer a predictive maintenance suite that enabled data-driven operations in factories, oil and gas plants, mines, and other rugged environments. Under this collaboration, NI’s advanced industrial monitoring devices have been integrated with IBM’s analytics/AI and asset management software, the new Wireless Industrial Asset Insights IoT solution that helps enable operations managers and business decision-makers to detect and diagnose faults in advance and predict remaining service life.
Jun-2019: GE Healthcare came into partnership with IT analytics software firm, Nyansa. The partnership was signed for providing the Nyansa Voyance AIOps advanced analytics platform for GE Healthcare’s Biomed and healthcare customers.
Jun-2019: Adobe entered into partnership with Rite Aid Corporation, a drugstore chain in the United States. The partnership was aimed to deliver seamless, personalized, and connected health and wellness experiences for Rite Aid customers through Adobe Experience Cloud. Adobe Experience Cloud enhanced Rite Aid’s ability to offer more consistent, compelling, and continuous customer experiences across all customer touchpoints by connecting Rite Aid’s pharmacy, retail stores, and online customer journey.
May-2019: SAP announced its collaboration with Amazon Web Services IoT and the availability of interoperability between SAP Leonardo IoT and AWS IoT Core. The collaboration provided new interoperability options, the cloud-to-cloud option, which integrates SAP Leonardo IoT with AWS IoT Core.
May-2019: Adobe partnered with Software AG, an enterprise software company. The partnership was focused on helping the companies in transforming their customer experience management (CXM) by bringing together customer data from across multiple enterprise systems into a centralized and actionable real-time customer profile.
Mar-2019: Amazon Web Services collaborated with NVIDIA, a company that designs graphics processing units for the gaming and professional markets. AWS IoT on NVIDIA Jetson enabled customers to deploy AI and deep learning to millions of connected devices. This joint solution enabled models to be easily created, trained, and optimized on AWS, then deployed to Jetson-powered edge devices using AWS IoT Greengrass.
Feb-2019: SAP extended its partnership with Microsoft, a technology company. Following the expansion, SAP Leonardo IoT integrated with Azure IoT services providing our customers with the ability to contextualize and enrich their IoT data with SAP business data within SAP Leonardo IoT to drive new business outcomes.
Acquisition and Mergers:
Jun-2020: Microsoft acquired CyberX, a provider of the most widely-deployed industrial cybersecurity platform for continuous, non-invasive risk assessment, and M2M anomaly detection. The acquisition helped the company to solve the challenges of customers by giving customers visibility into IoT devices that are connected to their networks and manage the security on the existing IoT devices.
Aug-2019: Salesforce completed the acquisition of Tableau Software, an interactive data visualization software company. The acquisition enabled Salesforce to help companies around the world to tap into data across their entire business and surface deeper insights to make smarter decisions, drive intelligent, connected customer experiences, and accelerate innovation.
Jan-2019: SAP took over Qualtrics, the global pioneer of the Experience Management (XM) software category. The acquisition accelerated the new XM category by integrating experience data and operational data to power the experience economy.
Jun-2018: IBM took over Oniqua, a company that provides Intelligent MRO (maintenance, repair, and operations) capabilities. The acquisition strengthened its leading IoT capabilities for helping businesses proactively maintain vital assets.
Feb-2018: Google agreed to acquire Xively, a division of LogMeIn, Inc. The acquisition would provide deep IoT technology and engineering expertise, including Xively’s advanced device management, messaging, and dashboard capabilities.
Jan-2016: Adobe took over technology assets and accounts of the comScore Digital Analytix business. Through this acquisition, the companies were aimed to ensure that the business-critical workflows that Digital Analytix customers rely upon are not disrupted. The acquisition expanded the Adobe Analytics footprint in the enterprise media and entertainment vertical and strengthened Adobe’s presence in the European market.
Product Launches and Product Expansions:
Jul-2020: Microsoft launched Azure IoT Connector for FHIR, to help with RPM security. It is an API feature that enabled healthcare organizations to scale secure connectivity for devices streaming protected health information. The health developers can easily and quickly set up the ingestion pipeline, designed for security, to manage PHI from IoT devices.
May-2020: Microsoft introduced the new capability of Azure IoT Central that made it easy to connect edge computing devices running Azure IoT Edge software. Azure Sphere, a secure microcontroller is now tightly integrated with Azure IoT Central. Azure IoT Central is one of the first multi-tenant IoT SaaS platforms covering end-to-end scenarios for device management, telemetry ingestion, command control, rule-based alerts, and rich visualization.
Nov-2019: Salesforce unveiled Customer 360 Truth, a new set of data and identity services. These services enabled companies to build a single source of truth across all of their customer relationships. Customer 360 Truth connects data from sales, service, marketing, commerce, and more to create a single, universal Salesforce ID for each customer.
Oct-2019: Microsoft released new capabilities that further simplify the customer journey and deliver highly secured IoT solutions. These solutions help customers embracing IoT as a core strategy to drive better business outcomes, improving safety and addressing social issues by predicting and preventing equipment failures, optimizing smart buildings for space utilization and energy management, improving patient outcomes and worker safety, tracking assets across a supply chain, and more.
Sep-2019: Oracle unveiled the first Oracle Analytics for Applications offering, design for the Fusion Cloud enterprise resource planning applications, Oracle ERP Cloud, that companies use to run financial processes. Oracle Analytics for Fusion ERP delivers line-of-business users and decision-makers with personalized analytics and improved cross line-of-business analytics.
Scope of the Study
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• 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
• Hitachi, Ltd.
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