In a recent published report, Kenneth Research has updated the market report for IoT Data Management Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for IoT Data Management Market products.
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
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Market Synopsis
The global IoT data management market was valued at USD 22.85 billion in 2017 and is expected to reach USD 62.53 billion by the end of forecast period with a CAGR of 18.27%.The growing number of connected devices, rising internet penetration, and explosive growth in smartphone ownership across the globe is leading to outpour of data.
This has created an immense need for data management. The enormous amount of data generation has led the organizations to shift towards the IoT enabled Platform-as-a-Service model and cloud-based solutions. IoT data management helps in discovering usage patterns, which can further support in providing improved user experience. Not only does it help in providing better experience, but also enable resource efficiency. Furthermore, projects such as smart homes and smart cities which are expanding rapidly across the globe is also creating the need to manage this tremendous amount of data along with keeping the data secure.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The players in this market are focusing on creating solutions that would deal with the management and security of large volume of data. For instance, in July 2017, IBM launched new security testing practice areas, focused on automotive security and IoT. This will focus on testing backend processes, physical hardware, and apps which control the access and management of smart systems.
Segmentation
By component, the market is segmented into solution and services. The solution segment is further bifurcated into data integration, data analytics and visualization, metadata management, data security, data migration, and others. The services segment is further segmented into managed services, consulting services, and support and maintenance services.
By deployment, IoT data management is segmented into public cloud, private cloud, and hybrid cloud. By organization size, the market is divided into SMEs and large enterprises. By application, the market is bifurcated into smart energy and utilities, smart manufacturing, building and home automation, smart healthcare, smart retail, smart mobility and transportation, connected logistics, and others.
Regional analysis
The global market for IoT data management is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of IoT data management market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, North America is expected to dominate the IoT data management market. Rapid adoption of smart devices and presence of a large number of vendors for IoT data management market in this region contributes to its largest share. Moreover, rising number of small and medium sized companies in this region is boosting the growth of IoT data management market in this region.
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Asia-Pacific region has immense potential for growth in this market. Adoption of advanced technologies, fast developing IT infrastructure and adoption of IoT in industrial segment are some of the important market driving factors. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Europe is also expected to contribute significantly to the growth of IoT data management market during the forecast period.
Global IoT Data Management Market, USD Billion
Source: MRFR Analysis
The global IoT data management market was valued at USD 22.85 billion in 2017 and is expected to reach USD 62.53 billion by the end of forecast period with a CAGR of 18.27%.
Key players
The key players in the IoT data management market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – IBM Corporation (US), Dell Technologies, Inc. (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 major share in the growth of IoT data management market.
Apart from the top key players, there are other players that contribute to the market growth. These include Trustwave Holdings, Inc. (US), Logmein, Inc. (Hungary), Mulesoft, Inc. (US), Striim, Inc. (US), LogFuze Inc. (US), InfluxData, Inc. (US) Zebra Technologies Corporation (US), and others.
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Intended Audience
IoT data management solution providers
IoT data management service providers
Cloud service providers
Consultancy and advisory firms
Managed service providers and middleware companies
Wireless infrastructure providers and service providers
Sensor, location, and detection solution providers
Governments
System integrators
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