Analytics of Things Market worth 22.65 Bn USD by 2021

Friday 29 July 2016, Amsterdam

The report, now available on ASDReports, "Analytics of Things Market by Application (Predictive Maintenance & Asset Management, Security & Emergency Management, Remote Monitoring), Software (Sensor Data Analytics, IoT Gateway Analytics), Service, Vertical & Regions - Global Forecast to 2021", The Analytics of Things market is estimated to grow from USD 4.85 Billion in 2016 to USD 22.65 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 31.53%. The major forces driving the Analytics of Things market are making IoT & its data more efficient, and end-to-end automation. The Analytics of Things market is growing rapidly because of the increasing number of connected devices, large amount of data generated through the connected devices and massive surge of flowing structured and unstructured data.

Inventory management application is expected to grow at the highest CAGR

Analytics of Things solutions are used for various applications such as energy management, predictive maintenance & assets management, inventory management, security & emergency management, sales & customer management, building automation, infrastructure management, and remote monitoring. Inventory management is expected to witness the highest CAGR during the forecast period because of the increasing need for resolving inventory and stocking related issues in real-time.

Healthcare vertical is expected to have the largest market size in 2016

The Analytics of Things market is also segmented by various industry verticals with the healthcare vertical expected to witness the highest adoption of Analytics of Things software and service and implementation of Analytics of Things in the healthcare industry enables to connect any wearable or portable device to the cloud, pull and analyze collected patient data in real-time, monitor patients at home using live video and monitor vital health indicators collected by portable devices such as smartphones and tablets, set intelligent emergency notifications sent to a physician or family, charts and diagram visualization based on data collected.

North America is expected to dominate the Analytics of Things market during the forecast period

North America is expected to hold the largest share of the Analytics of Things market in 2016 due to the technological advancements and early adoption of analytics in the region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving forces for this growth are increasing technological adoption and huge opportunities across industry verticals in APAC countries, especially India, China, and Japan.