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Internet of Things (IoT) Analytics Market Projected to Reach $16.35 Billion by 2020

Strategic Insights

— 1 min read

The global IoT analytics market is expected to experience significant growth, driven by the increasing number of IoT-enabled smart connected devices and sensors releasing large amounts of heterogeneous data. This data is being harnessed and analyzed using IoT analytics tools and platforms to improve real-time decision making and customer experience. The market is expected to reach $16,353.5 million by 2020, growing at a Compound Annual Growth Rate (CAGR) of 27.4% from 2015.

Key Takeaways:

  • The global IoT analytics market is expected to reach $16,353.5 million by 2020, growing at a CAGR of 27.4% from 2015.
  • The key players in this market include IBM, Intel, SAP, AGT International, Thingworx, Accenture, Capgemini, Mnubo, and Nokia Networks.
  • The IoT analytics market is rapidly gaining traction primarily due to the sudden outburst of data from IoT-enabled devices and increasing global penetration of connected devices.
  • The market is expected to experience a bolstered growth in emerging regions such as APAC and MEA in the coming five years.
  • Cloud-based deployments are accelerating in this market due to their cost-effectiveness and benefits of hassle-free maintenance.
  • The demand for IoT analytics is expected to increase in various industry verticals such as manufacturing, healthcare, energy and utilities, retail, and transportation and logistics.
  • The emergence of PaaS delivery models has increased the usage of IoT analytics in SMBs too.

Statistics:

  • The global IoT analytics market was valued at $4,857.2 million in 2015.
  • The market is expected to grow at a CAGR of 27.4% from 2015 to 2020.
  • The IoT analytics market is expected to reach $16,353.5 million by 2020.
  • The market is expected to experience a bolstered growth in emerging regions such as APAC and MEA in the coming five years.
  • Cloud-based deployments are expected to account for a significant share of the market by 2020.

Sources:

  • Research and Markets, "Internet of Things (IoT) Analytics Market by Application Platform, Solutions, Deployment, Process, Regions - Global Forecast to 2020" report.
  • Comtex News Network, Inc., SmarTrend Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-17-2012 for IBM and 04-11-2012 for NOK.
  • M2 PRESSWIRE, Research and Markets has announced the addition of the "Internet of Things (IoT) Analytics Market by Application Platform, Solutions, Deployment, Process, Regions - Global Forecast to 2020" report to their offering.

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