Global Connected Device Analytics Market is valued approximately USD 73.04 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 23.10% over the forecast period 2024-2032. Connected device analytics functions as a cloud-based platform crafted to enhance the landscape of customer communications by fostering effortless connectivity between applications, individuals, and objects. This platform empowers businesses to enhance their current software by seamlessly integrating messaging capabilities, voice, and video features through APIs. Additionally, connected device analytics assumes a critical role in safeguarding the security and reliability of interconnected systems by detecting anomalies, identifying potential vulnerabilities, and proactively mitigating risks. With the escalating proliferation of connected devices across diverse industries, there is a projected surge in demand for robust analytics solutions to effectively manage and derive value from the generated data.

The proliferation of IoT devices is a significant driver fueling the growth of the global connected device analytics market. With the exponential increase in IoT adoption across industries, an unprecedented volume of data is being generated by interconnected devices. This data encompasses a wide range of sources, including sensors, wearables, industrial equipment, and smart appliances, among others. Connected device analytic solutions play a crucial role in harnessing this deluge of data by providing the tools and capabilities to process, analyze, and derive actionable insights from it. Furthermore, the Global Connected Device Analytics Market is driven by growing emphasis on predictive maintenance and advancements in analytics technologies. However, data privacy and security concerns and lack of standardization, are expected to stifle the market growth between 2022 and 2032.

The key regions considered for the global Connected Device Analytics market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market share. The region is poised to maintain its market leadership throughout the forecast period, propelled by the widespread adoption of cutting-edge payment technologies and the growing demand for robust digital infrastructure. These factors are anticipated to fuel the expansion of the connected device analytics market within the region over the forecast period. On the other hand. The market in Asia Pacific is expected to grow at the fastest rate over the forecast period.

Major market player included in this report are:
Microsoft Corporation
Oracle Corporation
SAP SE
International Business Machines Corporation
Amazon Web Services, Inc.
Cisco Systems, Inc.
Hitachi, Ltd.
Hewlett Packard Enterprise Development LP
SAS Institute Inc.
Software AG
The detailed segments and sub-segment of the market are explained below:
By Component
Solution
Service
By Enterprise Size
Large Enterprise
SMEs
By Deployment Model
On-Premise
Cloud
By Application
Sales and Customer Management
Security and Emergency Management
Remote Monitoring
Predictive Maintenance and Asset Management
Inventory Management
Energy Management
Building Automation
Others
By Industry Vertical
Manufacturing
Transport and logistics
Energy and Utilities
Retail and eCommerce
BFSI
Health and life science
Government and defense
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.