New York, NY, Sept. 03, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “IoT Data Management Market by Solution (Metadata management, Data analytics and visualization, Data integration, Data migration, Data security, and Others), by Services (Managed Services, Support and Maintenance services and Consulting services), by Deployment (Private cloud, Public cloud, and Hybrid cloud), and by Application (Smart manufacturing, Smart healthcare, Smart energy and Utilities, Building and Home automation, Smart retail, and Smart Mobility and Transportation, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024’’. According to the report, global IoT data management market was valued at around USD 27.13 billion in 2017 and is expected to reach approximately USD 94.47 billion in 2024, growing at a CAGR of slightly above 19.51% between 2018 and 2024.
IoT (Internet of Things) can be summarized as a network of enormous electronic devices embedded with physical devices such as vehicles and ultimately controlled by software. IoT networks are designed with the purpose of transferring data without any machine or human interruption. IoT data management involves managing a large volume of data transferred by IoT technology.
Browse through 79 Tables & 37 Figures spread over 160 Pages and in-depth TOC on “Global IoT Data Management Market: By Service, Solutions, Size, Trends, Growth Analysis and Forecast, 2017 – 2024”.
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Currently, the IoT market is booming worldwide. IoT market is expected to grow at a rate of 20.9% from the year 2016 to 2019. Massive data is gathered with the help of IoT and there is an immense need of securing it. The rising demand for securing gathered data from cyber-attacks is significantly driving the growth of the market. Moreover, managing voluminous data gathered from innumerable IoT devices is anticipated to act as an add-on to the market growth in upcoming years. Another reason responsible for flourishing the market demand is rapid adoption of data encryption for security of IoT-based devices. Increasing number of smart city projects has significantly accelerated the demand for IoT data management. In the year 2016, globally 252 smart city projects were accounted in which 29% projects were from the Asia Pacific.
However, implementation of IoT data management requires high data transfer speed. Therefore, it can be implied only in the regions with uninterrupted internet connectivity. Challenges faced in implementation in rural areas are hindering the IoT data management market growth to some extent. Enormous opportunities are anticipated in the IoT data management market owing to its implementation in a smart building in order to gather and manage real-time information such as temperature, mechanical system, and energy consumption. Cisco Systems, Inc. has predicted that by the year 2020, IoT is anticipated to generate 600 ZB (Zettabytes) data annually.
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The IoT data management market is fragmented on the basis of the solution, service, application area, deployment type, and region. Based on a solution, the IoT data management market is bifurcated into metadata management, data analytics, and visualization, data integration, data migration, data security, and others. In the year 2017, the data integration segment attained a significant market share due to globally boosting demand for data integration tools for combining data from various sources. Based on facilitated services, the market is segmented into managed services, support and maintenance services, and consulting services. Managed services segment is anticipated to grow significantly due to rising demand for data management of IT services. Deployment segment is classified into a private cloud, public cloud, and hybrid cloud. Flourishing private enterprise sector is significantly driving private cloud segment growth. Application area segment comprises smart manufacturing, smart healthcare, smart energy, and utilities, building and home automation, smart retail, and smart mobility and transportation, among others.
On the basis of geography, the IoT data management market is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa along with further country-wise segmentation. North America is anticipated to be the prominent shareholder of the market and significantly dominate the market. Rising adoption of IoT based smart electronic devices such as smartphones is significantly driving the market growth in the forecast period. In the year 2017, 715 Million IoT based consumer devices were installed in the U.S. Out of all installed IoT consumer devices, Smartphone held 33% of the share. Emerging trends such as BYOD (Bring Your Own Device) by numerous IT startups acts as an add-on to the market growth. Moreover, the high demand for metadata management, data analytics, and information security is observed in North America. Furthermore, the region has the presence of a largest number of IoT based data management key players. Also being a developed region and availability of high budget is attracting numerous renowned vendors for making significant investment in the region.
Browse the full “IoT Data Management Market by Solution (Metadata management, Data analytics and visualization, Data integration, Data migration, Data security, and Others), by Services (Managed Services, Support and Maintenance services and Consulting services), by Deployment (Private cloud, Public cloud, and Hybrid cloud), and by Application (Smart manufacturing, Smart healthcare, Smart energy and Utilities, Building and Home automation, Smart retail, and Smart Mobility and Transportation, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024” report at https://www.zionmarketresearch.com/report/iot-data-management-market
In order to improve urban lifestyle, European Union has taken the sustainable initiative of smart city concept. The purpose of IoT data management in smart city projects is to manage data gathered from various industry sectors, SMEs, and transport among others. Globally 33% of the smart city projects were initiated in Europe accounting for 84 numbers of projects in the year 2017. Furthermore, IoT has immense influence in Europe and is anticipated that by the year 2020, it will bring nearly 2,103 USD Billion of revenue in Western Europe. Germany, France, and the UK (United Kingdom) altogether are anticipated to hold largest market share.
In the forecast period, Asia Pacific is expected to be the highest growing region. The rapid adoption of the latest technologies is the prime reason behind the observed significant growth. Boosting demand for advanced technologies such as Industrial Internet of Things (IIoT), big data and analytics, and remote asset management are acting as an add-on to the market growth. Flourishing demand for the development of IT infrastructures in emerging countries such as India and China is significantly driving the market growth.
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In Latin America, the market is driven by rising demand for IoT based traffic management. Enormous traffic control programs are initiated by the government due to the rising number of automotive fleet in the region. Accelerating IoT spending is significantly driving the market in the Middle East and Africa. During the forecast period, IoT spending is anticipated to grow at the rate of 15% in the region.
IoT data management has recently emerged worldwide and rapid technological developments are implemented by major market players. Prime players of IoT data management market are SAS Institute Inc., Fujitsu Limited, Teradata Corporation, Dell Technologies, Inc., Oracle Corporation, Cisco Systems, Inc., International Business Machines (IBM) Corporation, PTC Inc., Hewlett Packard Enterprise (HPE) Company, SAP SE, and Google Inc., among others.
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The report segments the global Internet of Things data management market as follows:
Internet of Things Data Management Market: Deployment Segment Analysis
- Private cloud
- Public cloud
- Hybrid cloud
Internet of Things Data Management Market: Solution Segment Analysis
- Metadata management
- Data analytics and visualization
- Data integration
- Data migration
- Data security
- Others (data governance, data quality, and data orchestration)
Internet of Things Data Management Market: Application Area Segment Analysis
- Smart manufacturing
- Smart healthcare
- Smart energy and utilities
- Building and home automation
- Smart retail
- Smart mobility and transportation
- Others (connected agriculture, media and entertainment, and smart education)
Internet of Things Data Management Market: Service Segment Analysis
- Managed services
- Support and maintenance services
- Consulting services
Internet of Things Data Management Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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