This is How Sensor Data Analytics Industry Will Grow By 2022 (Technology, Market Size, Growth, Hidden Factors & players)
December 12, 2019 by Market-NewsFlash
Reporting on Sensor Data Analytics — future with today’s facts
Sensor Data Analytics Market, By Components (Hardware, Software), By Services (Managed, Professional), By Applications (Manufacturing, Healthcare, Automotive, BFSI, Telecommunication) — Forecast 2016–2022
Sensor Data Analytics, a statistical tool developed to collect and analyze the real-time data generated by a wired or wireless sensor. The primary goal of sensor data analytics is to detect irregularities and these real-time data can later be used for various applications such as to detect failure in a machine in manufacturing unit or to get the data collected by drones to safeguard the businesses from various aerial threats posed by other malicious drones, to improve energy management to reduce carbon footprint of a facility or to cut queues and flight delays at the airports and so on.
As technology is growing, the big data have increased substantially, promoting the demand for data analysis for competitive advantage. Growing number of businesses have shaped up an upsurge demand to track activities on the company websites and other associated websites. Similarly, the emergence of social media sites and the increasing importance of sentiment analysis and advances in text analysis has prompted organizations to integrate social media into their business process.
This has resulted in a huge amount of data stored by an enterprise, prompting the immediate need for data analytics. Therefore, the data analysis becomes vital for the competitive advantage which in turn, increases the uptake of sensor data analytics. It is needless to say that the sensor data analytics market enjoys enormous traction, witnessing augmenting demand across the industries.
Global Sensor Data Analytics Market — Segments
MRFR has segmented its analysis into four key dynamics for the convenience of understanding;
By Components : Hardware (Gyroscopes, Magnetometers, Accelerometers, Pressure Sensors, and others), and Software.
By Services : Managed, and Professional.
By Applications : Manufacturing, Healthcare, Automotive, BFSI, and Telecommunication among others.
By Regions : North America, Europe, APAC and the Rest-of-the-World.
Global Sensor Data Analytics Market — Regional Analysis
The North American region holds the largest market share in the global sensor data analytics market and is also expected to be the largest revenue generator owing to the continuous technological advancements in the region. The sensor data analytics market in North America is mainly driven by the U.S. and Canada owing to the vast developments in the field of technology and the presence of giant technology companies. Furthermore, substantial investments in R&D sector from the major players in this region is acting as a tailwind supporting the market to grow extensively.
The prominent players in the market of sensor data analytics market are- IBM Corporation (U.S.), TCS (India), SAP AG (Germany), Microsoft Corp. (U.S.), Cisco Systems (U.S.), HP (U.S.), Qualcomm Inc. (U.S.), Verizon Communications (U.S.), Schneider Electric (France), and Talend (U.S.).
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