Dublin, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The "Global Sensor Data Analytics Market Size, Share & Industry Trends Analysis Report By Deployment Mode, By Analytics Technique, By Tool Type, By Component, By Model, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Sensor Data Analytics Market size is expected to reach $28.5 billion by 2028, rising at a market growth of 14.2% CAGR during the forecast period.
A key statistical method for gathering and assessing data that was first derived from the most recent sensor in real-time is called sensor data analytics. Additionally, modern wireless sensors or wired sensors can produce valuable data in significant amounts. Identifying abnormalities is the most significant objective or technique of sensor data analytics, and this real-time data can be used for a variety of contemporary applications. When a machine fails during production or a patient's health suddenly declines, these accidents can be rapidly and easily tracked and prevented from having big, negative effects.
Industries are flooded with petabytes of Big Data because of the growth of the Internet of Things (IoT), which is made up of an expanding number of wired and wireless sensors. These sensor networks continuously track and report on crucial data, such as patient heart rates, oil drill production flow, or hydropower plant turbine wear. By developing models to extract the insight hidden in this wealth of data, sensor data analytics assist industries in making the most of it. This knowledge transformation of business operations enables people to predict disease, lower maintenance costs, foresee equipment breakdowns, etc.
Analytics of sensor data will be crucial to the success of any firm. All industries, including mining, green technology, and software development, will rely heavily on sensors in the future. Sensors are devices that can gather data, which is then stored in data lakes and processed further by data analytics programs. Analytics tools are designed to examine data flowing from these devices because IoT is expected to establish a major footprint all over the world.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
COVID-19 Impact Analysis
The COVID-19 pandemic significantly impacted a number of industries all over the world, including the sensor data analytics market. This is linked to the majority of governments putting their citizens on lockdown and prohibiting all international travel to stop the spread of the virus.
However, after the pandemic ended and the market for sensor data analytics recovered, the market is estimated to grow. The need for cloud-based sensor data analytics to manage key information of enterprises is increasing as a result of numerous organizations introducing a culture of work-from-home for their employees. This is a lucrative prospect for market expansion in the coming years.
Market Growth Factors
The Emerging Trend of Smart Wearables All Over the World
With the increasing penetration of modernization and urbanization all over the world, the demand for smart wearables is rapidly increasing. Smart wearables are increasingly becoming a market trend, owing to which, a number of people all over the world are adopting this modern-era technology, such as wrist, body, and eyeglasses, in healthcare and consumer entertainment.
Additionally, the technology for wearable products has advanced gradually, and the gadgets are getting smaller, which has led to numerous manufacturers applying this technology worldwide.
An Expansion in the Number of Advanced Sensors Being Introduced to the Market
As people are Advancing toward a more technological and sophisticated world, the need for upgrades and advancements in prevailing technologies are also required. In order to address this demand, market players all over the world are bringing to the market, a significant number of new and advanced sensors with a number of benefits for customers.
High-speed and inexpensive electronic circuits, signal processing techniques and new manufacturing technologies are driving the advancement of sensor technology.
Market Restraining Factors
Privacy Risks Associated With the Use of Sensors
Nowadays, people are surrounded by an increasing number of sensors that are integrated into wearable technology, smart energy meters, and other connected devices that delve further and deeper into their personal life. Other sensors are less protected and less of a concern, although some are frequently viewed as privacy-sensitive and always need user permission to be engaged. However, a variety of seemingly harmless sensors can be used to deduce highly sensitive information about nearby people.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Market Share Analysis, 2021
3.2 Strategies deployed in Sensor Data Analytics Market
Chapter 4. Global Sensor Data Analytics Market by Deployment Mode
4.1 Global On-premises Market by Region
4.2 Global Cloud Market by Region
Chapter 5. Global Sensor Data Analytics Market by Analytics Technique
5.1 Global Descriptive Market by Region
5.2 Global Predictive Market by Region
5.3 Global Prescriptive Market by Region
Chapter 6. Global Sensor Data Analytics Market by Tool Type
6.1 Global Dashboard & Data Visualization Market by Region
6.2 Global Data Mining & Warehousing Market by Region
6.3 Global Self-Service Tools Market by Region
6.4 Global Reporting Market by Region
6.5 Global Others Market by Region
Chapter 7. Global Sensor Data Analytics Market by Component
7.1 Global Hardware Market by Region
7.2 Global Software Market by Region
7.3 Global Services Market by Region
Chapter 8. Global Sensor Data Analytics Market by Model
8.1 Global Ad-hoc Market by Region
8.2 Global Real-time Market by Region
Chapter 9. Global Sensor Data Analytics Market by Organization Size
9.1 Global Large Enterprises Market by Region
9.2 Global Small & Medium Enterprises (SMEs) Market by Region
Chapter 10. Global Sensor Data Analytics Market by Vertical
10.1 Global Manufacturing Market by Region
10.2 Global Retail Market by Region
10.3 Global Transportation & Logistics Market by Region
10.4 Global Government Market by Region
10.5 Global Healthcare & Life Sciences Market by Region
10.6 Global Aerospace & Defense Market by Region
10.7 Global Energy & Utilties Market by Region
10.8 Global Others Market by Region
Chapter 11. Global Sensor Data Analytics Market by Region
Chapter 12. Company Profiles
12.1 Microsoft Corporation
12.1.1 Company Overview
12.1.2 Financial Analysis
12.1.3 Segmental and Regional Analysis
12.1.4 Research & Development Expenses
12.1.5 Recent strategies and developments:
12.1.5.1 Partnerships, Collaborations, and Agreements:
12.1.6 SWOT Analysis
12.2 IBM Corporation
12.2.1 Company Overview
12.2.2 Financial Analysis
12.2.3 Regional & Segmental Analysis
12.2.4 Research & Development Expenses
12.2.5 Recent strategies and developments:
12.2.5.1 Product Launches and Product Expansions:
12.2.6 SWOT Analysis
12.3 SAP SE
12.3.1 Company Overview
12.3.2 Financial Analysis
12.3.3 Segmental and Regional Analysis
12.3.4 Research & Development Expense
12.3.5 SWOT Analysis
12.4 Tata Consultancy Services Ltd.
12.4.1 Company Overview
12.4.2 Financial Analysis
12.4.3 Segmental and Regional Analysis
12.4.4 Research & Development Expenses
12.4.5 SWOT Analysis
12.5 Schneider Electric SE
12.5.1 Company Overview
12.5.2 Financial Analysis
12.5.3 Segmental and Regional Analysis
12.5.4 Research & Development Expense
12.5.5 SWOT Analysis
12.6 Hewlett Packard Enterprise Company
12.6.1 Company Overview
12.6.2 Financial Analysis
12.6.3 Segmental and Regional Analysis
12.6.4 Research & Development Expense
12.6.5 Recent strategies and developments:
12.6.5.1 Acquisition and Mergers:
12.6.6 SWOT Analysis
12.7 Cisco Systems, Inc.
12.7.1 Company Overview
12.7.2 Financial Analysis
12.7.3 Regional Analysis
12.7.4 Research & Development Expense
12.7.5 Recent strategies and developments:
12.7.5.1 Acquisition and Mergers:
12.7.6 SWOT Analysis
12.8 Qualcomm, Inc.
12.8.1 Company Overview
12.8.2 Financial Analysis
12.8.3 Segmental and Regional Analysis
12.8.4 Research & Development Expense
12.8.5 Recent strategies and developments:
12.8.5.1 Acquisition and Mergers:
12.9 Verizon Communications, Inc.
12.9.1 Company Overview
12.9.2 Financial Analysis
12.9.3 Segmental Analysis
12.9.4 Recent strategies and developments:
12.9.4.1 Acquisition and Mergers:
12.10. Talend S.A. (Thoma Bravo)
12.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/9o40dx
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