November 6, 2019 by Market-NewsFlash
Global Data Historian Market Research Report: By Component (Software, Services), by Deployment (Cloud-based, On-Premise), by Organization Size (Large Enterprise, SMEs), by Time Series Database Type (Operational, Open source) ,by Application (Production Tracking, Environmental Auditing, Asset Performance Management, Predictive Maintenance, and Others) , by End-User (Oil and Gas, Marine, Chemicals and Pharmaceuticals, Paper and Pulp, Metals and Mining, Utilities, Data Centers, Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) — Forecast till 2024
The global data historian market is expected to register a CAGR of 6.9% during the forecast period of 2019–2024. There are various factors contributing to the growth of the global data historian market such as increasing volume of data and the adoption of IoT devices for transmitting information which has led to an increase in the adoption of data historian among the enterprises for reducing the downtime and increasing the working efficiency.
The global data historian market is estimated to grow at a significant rate in the future. The geographical analysis of the data historian market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America dominates the global data historian market, by region, due to the early adoption of the data historian software program by various industries to predict their functionality with the help of the previous years’ data. Additionally, there are various key manufacturers, organizations, and enterprises are present in the region which use these software and services to enhance the working functionality and analyze their profits against the past statistics. Based on the countries, the region has been segmented as the US, Mexico, and Canada. The US accounts for the largest market share due to presence of various key players including Aspen Technology (US), Emerson Electric Co. (US), PTC Inc. (US), Rockwell Automation, Inc., and others.
Europe accounts the second-largest market share in the data historian market due to presence of various industries such as automotive, metal & mining, chemical, and others which is driving the market. Additionally, the presence of various countries such as the UK, Germany, France, Italy, and others in the region are the major contributors to the global data historian market. Additionally, the increasing utilization of sensor-based devices has also increased the data generation across various manufacturing industries in the region, therefore there has been increasing demand for the data historian software for analyzing the performance of their units. Additionally, there are various companies which offer data historian software/tools, and services in the region such as ABB Limited (Sweden), AVEVA Group (UK), Siemens AG (Germany) and others, that accelerates the growth of the market.
Asia-Pacific is expected to be the fastest-growing region during the forecast period due to increasing advancement in terms of technology, urbanization, and digitalization. Additionally, the SMEs and large enterprise are also using this software to predict the future functionality by analyzing the historical data and functionality of the organization. Moreover, the increasing number of manufacturing units in the region is also driving the market. China is expected to be the dominating country in the region whereas India is accounted to be the fastest-growing country during the forecast period.
Rest of the world has been segmented as South America and Middle East & Africa is expected to be growing with a significant CAGR during the forecast period due to presence of established oil & gas industry in the region, which drives the market. The Middle East & Africa is the dominating region and is expected to be the fastest-growing region during the forecast period.
MRFR recognizes the key players in the global data historian ABB Limited (Sweden), AVEVA Group (UK), General Electric Company (US), Honeywell International Inc. (US), IBM Corporation (US), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Aspen Technology (US), Emerson Electric Co. (US), PTC Inc. (US), Rockwell Automation, Inc. (US), ICONICS (US), OSIsoft, LLC (US), Automsoft International Ltd (Ireland), Canary Labs, Inc. (US), and COPA-DATA GmbH (Austria) among others.
The prominent players keep innovating and investing in research and development to offer a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities emphasize strengthening their reach to the customers.
The global data historian market has been segmented based on component, deployment, organization size, application, time series database type, end user, and region.
By component, the market has been segmented into software and services. The service segment has been further segmented as managed services and professional services. By deployment, the market has been segmented into cloud-based and on-premise. By organization size, the market has been segmented into large enterprises and SMEs.
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