The Global Connected Device Analytics Market is projected to reach a value of over USD 51.3 Billion by 2027 at a CAGR of around 23.2%.
Connected device is refer to smart devices or a mobile devices which may connect to each other and system with the help network. Whereas, it helps to make smart decision as well as provide most efficient processes for the businesses growth. However, it used in medical sector to improve patient safety as well as support the remote monitoring of chronic diseases. Also, it offers a significant benefit to the business from enhancing decision making to improve the safety and security with the real-time data monitoring.
Hence, it connect with the Internet and various other wired and wireless network and protocol such as Wi-Fi, 3G, or 4G which may increase the market growth in the forecast period.
Market Driver:
With the rising adoption of Internet of Things (IoT) is witness to increase the demand of the connected device analytics market in the forecast period. Whereas, it helps to reduce cost, enhance monitoring and maintenance service by providing real-time data. Also, with the real-time data benefit with the IoT will significance to create a various opportunities for the businesses to increase its services in digital platforms. Moreover, it will improve efficiency and productivity to improve the operations in any environment.
Hence, with the adoption of advanced monitoring technologies, it will help to provide additional operational data benefits as well as enhances the asset management though data analysis which lead to boost the businesses growth.
Market Challenges:
One of the major key concern of the connected device analytics market is the lack of security as well as shortage of skilled professionals which may hamper the market growth. Whereas, trained professionals are required to deploy AI technologies as well as the advance software systems. Also, the organization need acquire skilled professionals in the areas such as networking, and cyber security. Moreover, the machine learning are also connected through the Internet for the operational process which lead to an opportunities for the attackers to exploit.
Hence, these will lead to create a major impact for the growth of connected device analytics market in the projected period.
The report on the connected device analytics market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Component, Deployment Mode, Enterprise Size, Application, End-User, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Connected Device Analytics Market, by Component
Connected Device Analytics Market, by Deployment Mode
Connected Device Analytics Market, by Enterprise Size
Connected Device Analytics Market, by Application
Connected Device Analytics Market, by End-User
Connected Device Analytics Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE CONNECTED DEVICE ANALYTICS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY