CONNECTED DEVICE ANALYTICS MARKET TO REACH USD 51.3 BILLION BY 2027 | CAGR 23.2% – FORENCIS RESEARCH

Global Connected Device Analytics Market: Key Highlights

• According to the new market research report “Connected Device Analytics Market by Deployment Mode (Cloud, On-Premises), by Enterprise Size (Small And Medium-Sized Enterprises (SMEs) and Large Enterprises), by Application (Asset Management, Energy Operation, Sales and Customer Management, Building Automation and Emergency Management), by End-User (BFSI, Retail, Government and Defense, Healthcare, Manufacturing, Telecommunications, Energy and Utilities and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global Connected Device Analytics Market is estimated to reach USD 51.3 Billion by 2027 at a CAGR of around 23.2% during the review period.
• The connected device analytics offers a significant benefit to the business from enhancing decision making to improve the safety and security with the real-time data monitoring.
• Moreover, 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.

Global Connected Device Analytics Market: Key Market Dynamics

• With the rising adoption of Internet of Things (IoT) is witness to boost 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.
• One of the major key concern of the connected device analytics market is the lack of security as well as shortage of skilled professional which may hamper the market growth.
• The adoption monitoring along with the advance technologies helps to provide additional operational data benefits as well as enhance the asset management though data analysis which lead to boost the business growth.
• Growing adoption in smart device enhance the security system provide the real-time monitoring services which may fuel the growth of the market in the forecast period.

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Global Connected Device Analytics Market: Regional Overview

• Europe:

Europe is witness to play a major role for encourage private as well as the public sector to adopt the smart technologies in healthcare industries which will lead to increase the market adoption in the forecast period. Also in 2018, the region had signed a declaration of cooperation on Artificial Intelligence (AI). According to International Air Transport Association (IATA) it being forecast the net profit in 2020 will be USD 7.9 Billion in airlines industry.  Hence, these trend will lead to enhance the growth of the connected device analytics market in the projected period.

• Asia-Pacific:

The region has increased its investment for the development of smart cities as well as the IoT platform may boost the growth of the market. Also, growing in adoption in new emerging technologies such as AI, machine learning and IoT and initiative taken by the government may lead to create a major impact for the growth of the market. However, the Japan self-defense force are boosting its growth with the robots and artificial intelligence to innovate and develop the military sectors.

Hence, the China is projected to reach its 2020 target by 2.5% of GDP spending on its R&D which is anticipate to increase the demand of the market in the period of forecast.

Global Connected Device Analytics Market: Key Players Overview

• SAP SE:

SAP SE is a German multinational software company which help to manage the business operations as well as the customer relations. Whereas, the machine learning technology helps them to make fast decision, boost efficiency, and to get better outcomes. In 2018, the company had announced an expansion of SAP Leonardo Machine Learning capabilities with the help of SAP Conversational AI service. Also the SAP Leonardo Machine Learning benefits with the solution which helps the developers to consume, design and scale machine learning as per their requirements.

Furthermore, in 2019 the company has announced advancement to the SAP Analytics Cloud solution that includes enterprise planning workflows, augmented analytics and data integration capabilities.

• Microsoft:

Microsoft is an American multinational technology company, which supports, and sells computer software. Whereas, the Microsoft Azure Machine Learning Studio is join drag-and-drop tool which help to build, test and deploy predictive analytics solutions for the data. In 2020, the company has acquired CyberX to solve the problems of user by providing customers visibility into IoT devices which helps to connected to their networks as well as to manage the security of the IoT devices.

Hence, in 2019 the company has invested USD 5 billion in Internet of Thing (IoT) and in intelligent edge technology to advance and brings transformation across industries.

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