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“The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.3%, due to increase in the number of connected devices interacting and exchanging data, and complex setup of IoT.”
The global Internet of Things (IoT) data management market is expected to grow from USD 27.54 billion in 2017 to USD 66.44 billion by 2022, at a CAGR of 19.3%. The modernization of data warehouse architecture, rising need for data traffic management, and technological advancements in wireless technologies are the factors contributing to the growth of the IoT data management market. A modernized data warehouse helps in centralizing a repository system of integrated data. Furthermore, IoT traffic models are a necessity, as they provide an extra layer of authentic connectivity between the devices and network-secure IoT data management. They help in reducing costs and optimizing network performance for both network operators and manufacturers. Insufficient knowledge about IoT business consulting, technology consulting, system designing and integration, data aggregation, and security protocols is a major factor restricting the growth of the IoT data management market.
“The metadata management segment is expected to grow at the highest CAGR during the forecast period.”
Metadata management is one of the modern IoT data management solutions being rapidly adopted by developed countries, such as the US and Canada. Metadata management helps organizations increase the visibility of information, thereby assisting in improving business decisions and outcomes. Moreover, organizations treat information as an asset, thereby making metadata management a strategic business tool.
“The data analytics and visualization segment is expected to have the largest market size in the IoT data management market during the forecast period.”
Data analytics and visualization is an integral part of the IoT data management system. Data analytics and visualization translates the big data generated by IoT devices into visual and understandable insights. It enables organizations to have strong analytics, which further helps them in making accurate marketing and business strategies. Cloud-based IoT analytics platforms provide IoT-specific analytics to reduce the time, cost, and expertise required for developing analytics-rich IoT applications. IoT data analytics also offers the capability to combine operative information with data from IT systems and deliver intelligent analytics to the stakeholders.
“Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period.”
The APAC market is expected to witness significant growth and is projected to be the fastest growing region in the IoT data management market. APAC has witnessed advanced and dynamic adoption of new technologies, and it has always been a lucrative market. The rise in the use of connected devices has increased the demand for IoT data management solutions in the APAC region. IoT data management solutions have helped APAC organizations enhance their business productivity, improve the time to market for products and services, increase efficiency, and reduce the overall business costs.
In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
The break-up of the profiles of the primary participants is as follows:
- By Company: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 – 30%
- By Designation: C-Level – 72%, Director Level – 14%, and Others – 14%
- By Region: North America – 57%, Europe – 14%, APAC – 29%
The IoT data management market includes various vendors, such as International Business Machines (IBM) Corporation (US), PTC Inc. (US), Teradata Corporation (US), Dell Technologies, Inc. (US), Cisco Systems, Inc. (US), SAS Institute Inc. (US), Hewlett Packard Enterprise (HPE) Company (US), Fujitsu Limited (Japan), Oracle Corporation (US), Google Inc. (US), SAP SE (Germany), LogMeIn, Inc. (US), Striim, Inc. (US), Zebra Technologies Corporation (US), LogFuze Inc. (US), InfluxData, Inc. (US), Trustwave Holdings, Inc. (US), and MuleSoft, Inc. (US).
The report includes an in-depth competitive analysis of the key players in the IoT data management market along with their company profiles, recent developments, and key market strategies. The report segments the IoT data management market by component (solution and service), deployment type, organization size, application area, and region.
Reasons To Buy the Report:
The IoT data management market has been segmented on the basis of components (solutions and services), deployment types, organization size, application areas, and regions.
The report will help the market leaders/new entrants in the IoT data management market in the following ways:
- The overall IoT data management market revenue stream has been estimated based on the revenues of the vendors offering IoT data management as Software-as-a-Service (SaaS). It is inclusive of the managed, support and maintenance, and consulting services offered by professional service providers, including Managed Service Providers (MSPs).
- The report provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split into regions.
- The report will help the stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- The report will help the stakeholders understand the competitors and gain more insights to better their market position.
- The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions related to the IoT data management market.