Market Insights —
The increasing quantity of connected devices, internet penetration, and volatile growth in smartphone production, as well as ownership globally, is the result of the immense outpour of data. These influences have created a tremendous need for data management. On this market overview, Market Research Future has published the latest report on global IoT data management market stating that the market is expected to reach USD 62.53 billion by 2023. Later in 2017, it valued for USD 22.85 billion that got mainly increased by the current time. The above-expected valuation is likely to grow at a rapid pace of 18.27% CAGR.
In recent times, it has been seen that many organizations have shifted towards the IoT enabled platform service model and cloud-based solutions due to the possibility of the enormous amount of data generation activities coming into the scenario. IoT data management helps in discovering usage patterns and provides a better experience and enables resource efficiency. The key players in this market are focusing on creating solutions that would deal with the management and security of a large volume of data consistently and efficiently.
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Market Research Future Report offers a comprehensive segmental analysis of the global IoT data management market that is listed by component, deployment, organization, and application.
By the mode of the component, this market segment includes solution and services. Whereas, the solution segment is further classified into data integration, data analytics and visualization, metadata management, data security, data migration, and others. Among these, the services segment is further segmented into managed services, consulting services, and support and maintenance services.
By the mode of deployment, this market segment includes public cloud, private cloud, and hybrid cloud.
By the mode of organization, the market segment includes SMEs and large enterprises.
By the mode of application, the market is segmented into smart energy and utilities, smart manufacturing, building, and home automation, smart healthcare, smart retail, smart mobility and transportation, connected logistics, and others.
The key players in the IoT Data Management Market are identified are – IBM Corporation (US), Dell Technologies, Inc. (the US), Cisco Systems, Inc. (US), Google Inc. (US), SAS Institute Inc. (US), Hewlett Packard Enterprise (US), Fujitsu Limited (Japan), Oracle Corporation (US), PTC Inc. (US), Teradata Corporation (US), and SAP SE (Germany). These players contribute a significant share in the growth of IoT data management market.
Global IoT Data Management Drivers & Trends
Currently, IoT data management is booming worldwide. The mounting demand for securing gathered data from cyber-attacks is significantly driving the growth of the market towards positive note. Moreover, the management of voluminous data that is collected from many IoT devices is also awaited to act as an add-on driving factor to the market growth in years to come. Adoption of data encryption for security of IoT-based devices is simultaneously flourishing the market exponentially.
In the past years, traditional data management systems were used to handle the storage, retrieval, and update of elementary data items, records, and files. However, with the advent of IoT, data management systems are now able to summarize data online by providing storage, logging, and auditing facilities, especially for offline analysis. Therefore, IoT data management requires high data transfer speed and traditional concepts doesn’t hold the idea of IoT data management from offline storage. This factor is one of the primary drivers for the market of IoT data management to grow consistently at a higher CAGR.
Further, with the increasing number of smart city projects has significantly accelerated the demand for IoT data management. Hence, it is implied only in the regions with uninterrupted internet connectivity. Based on this, enormous opportunities are predicted in the IoT data management market owing to its implementation in smart buildings to gather and manage real-time information on temperature, mechanical system, and energy consumption. These are some of the most exceptional factors that are driving the market of IoT data management in the stated forecast period.
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According to the reports published by Market Research Future Reports, the market of IoT data management is spanning highly across North America, Europe, Asia-Pacific, and the rest of the world.
Among all, North America is expected to lead the IoT data management market owing to the rapid adoption of smart devices along with the presence of many vendors for IoT data management market in this region. These factors are highly contributing to its largest share of the market. Moreover, rising small and medium-sized companies are also boosting the growth of IoT data management market in this region.
The Asia-Pacific region is observing an immense potential for growth in this market due to the adoption of advanced technologies, fast developing IT infrastructure and adoption of IoT in industrial sectors. These are some of the critical market driving factors as Asia-Pacific is expected to grow at the highest CAGR during the assessment period.
Whereas, Europe is also expected to contribute significantly to the growth of IoT data management market during the forecast period.
April 04, 2019: EDMI Partners with Arm on secure IoT deployment. The news continuous—EDMI Limited, a global smart metering solutions company announced a partnership with Arm to combine smart metering solutions from EDMI with the power of Arm Mbed OS (PSA certified) and Pelion IoT platform.
LIST OF TABLES
Table 1 IoT Data Management Market, By Region, 2018–2023
Table 2 North America: IoT Data Management Market, By Country, 2018–2023
Table 3 Europe: IoT Data Management Market, By Country, 2018–2023
Table 4 Asia-Pacific: IoT Data Management Market, By Country, 2018–2023
Table 5 Middle East & Africa: IoT Data Management Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global IoT Data Management Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global IoT Data Management Market
FIGURE 4 Value Chain Of Global IoT Data Management Market
FIGURE 5 Share Of Global IoT Data Management Market In 2017, By Country (In %)
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