Internet of Things Analytics Market
Report ID: UCMIG45I2087
Internet of Things Analytics Market Size
SkyQuest Technology's Internet of things analytics market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Internet of Things Analytics Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.
Internet of Things Analytics Market Insights
Market Overview:
The global market for IoT analytics or things analytics was estimated at USD 5.7 billion in 2016, and it is expected to increase at a CAGR of 29.7% during the projected period. The continuous introduction of new IoT devices, such as smart glasses, watches, infrastructure, and cities, has resulted in a significant increase in the volume of IoT data. Analytics of things have emerged as an essential tool to analyze this data. Factors such as the widespread use of social media, the rapid evolution of technologies, mobile utilities, and the internet have contributed to the increased demand for analytics of things. Furthermore, the declining cost of sensors and improved processing power are some of the key trends propelling market growth.
Internet of Things Analytics Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Technology Hardware, Storage & Peripherals by segment aggregation, the contribution of the Technology Hardware, Storage & Peripherals in Technology Hardware & Equipment and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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