New York, NY, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Analytics of Things Market By Type (Automating Analytics, Descriptive Analytics, Diagnostic Analytics, Prescriptive Analytics, and Predictive Analytics), By Deployment Type (On-Demand and On-Premises), By Component (Software and Services), and By End-User (BFSI, Healthcare, Retail, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global analytics of things market was USD 8.1 billion in 2018 and is expected to reach approximately USD 56.8 billion by 2025, at a CAGR of around 32.6% between 2019 and 2025.
Analytics of things (AoT) studies data generated via the Internet of things (IoT) devices. AoT is integrated with business analytics and is majorly used to enable IoT devices to make better decisions. AoT is merged with IoT for proper observation of the data collected. The data collection process has become easier due to the adoption of high-tech sensors. This collected data can be used by organizations for making improved real-time decisions. Furthermore, AoT is expected to have huge potential globally, due to its growing success in the business field, as it helps organizations to better optimize, manage, and predict business operations and methods to improve efficiency and profitability and neutralize threats. AoT is estimated to grow steadily in the agriculture sector, owing to the adoption of smart farming as it helps in analyzing the weather conditions, crop’s growth, and soil quality. It also has the ability to predict the result of the crop to plan for improved product distribution. AoT in the automotive sector is anticipated to see a rise its demand, owing to the real-time monitoring that allows the manufacturers to get real-time information to improve maintenance and manufacturing processes to increase the lifecycle of their products.
Browse through 71 Tables & 32 Figures spread over 174 Pages and in-depth TOC on “Global Analytics of Things Market: By Type, Applications, Industry Size, Share, Segments, Analysis and Forecast, 2018–2025”.
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The analytics of things market is fragmented on the basis of type, deployment type, component, and end-user. On the basis of type, the market includes prescriptive analytics, descriptive analytics, automating analytics, diagnostic analytics, and predictive analytics. Predictive analysis studies the human behavioral patterns and predicts the customer’s reaction in a certain situation. Moreover, analytics of things further helps in consumer-friendly analytics, by determining the age, gender, and user activity on a certain website, which helps organizations to improve their content, know their weak links, and brain storm on the strategies that can help in gaining more website traffic. Thus, the rising demand for predictive analysis is likely to drive this segment’s growth in the future.
The end-user segment comprises retail, manufacturing, healthcare, BFSI, and others. The healthcare sector is anticipated to grow considerably in the years ahead, owing to the data availability from IoT that aids in analyzing the data efficiently. Moreover, the data gives real-time alerts to doctors and helps in continuous data observation and obtain actionable insights. Furthermore, due to technological advancements and increased rivalry, the manufacturing sector is expected to lead in the upcoming years.
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The North American analytics of things market is expected to grow rapidly in the future, owing to the growing AoT demand by the region’s financial and technological sectors. This regional is also estimated to grow notably, owing to the presence of prominent players like Google, Amazon, etc. These companies adopt AoT to ease the functioning of various departments, such as transportation and logistics, healthcare, and manufacturing. Moreover, these organizations widely use cloud computing, which helps in storing, managing, and processing of data. Hence, cloud computing creates a travel pathway for data that is generated by IoT. This data is then used to analyze the human behavioral patterns and provide appropriate results to the users.
The Asia Pacific analytics of things market is anticipated to witness steady growth in the years ahead, owing to the growing internet penetration and rising use of social media in countries like India and Japan. These countries are home to many consumer electronics companies like Hitachi, Samsung, and others, which lead to huge data collection and a large market size that needs to be analyzed. Moreover, the regional governments are showing increased interest in the IoT by initiating carious IoT policy plans to develop long-term strategies to contribute to the analytics of things market growth in the Asia Pacific.
Browse the full “Analytics of Things Market By Type (Automating Analytics, Descriptive Analytics, Diagnostic Analytics, Prescriptive Analytics, and Predictive Analytics), By Deployment Type (On-Demand and On-Premises), By Component (Software and Services), and By End-User (BFSI, Healthcare, Retail, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/analytics-things-market
The increasing use of AoT in the healthcare sector is estimated to drive the European analytics of things market. The Swedish government has initiated to invest in innovative technologies for its healthcare industry. These technologies are applicable to both doctors and patients. The patients are given individual attention by keeping a check on their calories, blood pressure, and glucose with the help of fitness bands or wireless devices. Furthermore, health insurance companies in Europe use IoT to collect data from various healthcare monitoring devices to generate claim policies and update them regularly.
The Latin American analytics of things market is still in its initial development phase but is estimated to grow moderately over the forecast time period. IoT is used in Latin America for utilities, payment, and auto motives. Brazil, Colombia, and Chile are witnessing a steady rise in the adoption of Point-of-sale (PoS) terminals, due to the growing use of cellular devices. The region’s automotive sector is anticipated to grow rapidly, due to the implementation of fleet management, vehicle tracking, and Original Equipment Manufacturer (OEM) embedded solutions.
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The Middle Eastern and African analytics of things market is estimated to grow considerably in the future, owing to the constant business expansion of various organizations and their services across the region. The constructions of smart cities and smart buildings are also driving the demand for IoT for better products and services.
Some key players of the global analytics of things market are Google, Amazon Web Services, Hewlett Packard, Cisco Systems, Greenwave Systems, Capgemini, Hitachi, IBM, Oracle, GE, Microsoft Corporation, and Intel Corporation.
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This report segments the global analytics of things market into:
Global Analytics of Things Market: By Type
- Automating Analytics
- Descriptive Analytics
- Diagnostic Analytics
- Prescriptive Analytics
- Predictive Analytics
Global Analytics of Things Market: By Deployment Type
- On-Demand
- On-Premises
Global Analytics of Things Market: By Component
- Software
- Sensor Data Analytics
- IoT Gateway Analytics
- Network Management
- Services
- Managed Services
- Professional Services
- Others
Global Analytics of Things Market: By End-User
- BFSI
- Healthcare
- Retail
- Manufacturing
- Others
Global Analytics of Things Market: Regions Covered
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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