35% of the growth comes from North America for the IoT data management market. The US is the key market for IoT data management North America. market growth in North America will be faster than the growth of the market in other regions. The strong presence and penetration of top vendors like Microsoft Corp. and Oracle Corp. will facilitate the growth of the IoT data management market in North America during the forecast period. The IoT data management market is expected to continue growing $94.79 billion from 2021 to 2026. However, the growth momentum at a is likely to slow down CAGR of 13.68% according to the latest market report from Technavio. The IoT data management market is set to record 18.50% YoY growth rate in 2022.
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IoT Data Management Market Drivers
The key factor driving the growth in the IoT data management market is the Growth in industrial automation. The industrial environment is currently experiencing evolutionary changes with the increasing automation of processes. The combination of physical and digital systems has improved HMI and enabled M2M communication. Industry 4.0 defines the entire life cycle of products, in which the manufacturing processes are carried out independently by intelligent machines, intelligent robots coordinate with humans to assemble products, and driverless transport vehicles have started to operate logistics independently. The integration of cyber systems and physical systems in the industrial manufacturing industry enables higher efficiency, more safety, predictive maintenance of machines and increased profitability. Therefore, industries around the world are implementing Industry 4.0 to optimize material flow and detect errors in the early stages of a product’s life cycle.
IoT Data Management Market Challenge
the lack of awareness to efficiently manage IoT initiatives and investments will pose a major challenge for the IoT data management market during the forecast period. Although industrial IoT adoption is increasing, organizations still face a significant challenge in managing, securing, and optimizing their IoT investments. The implementation of IoT in industrial plants is one of the main tasks of the industry. The next step is to train the employees to work on the IoT platform so that the employees can better and faster adapt to the IoT. The lack of skilled employees who can handle the intricacies of IoT systems is a major problem faced by end-user industries. Without proper training and knowledge of IoT systems, the possibilities of the IoT can only be partially realised. Such factors pose a challenge for the adoption of IoT and IoT data collection and device management platforms in the industry, thereby hampering the growth of the market.
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Some of the key players in IoT data management:
The IoT data management market is fragmented and implement the providers organic and inorganic growth strategies to compete in the market.
- alphabet inc
- Cisco Systems Inc.
- Dell Technologies Inc.
- Fujitsu Ltd.
- Hewlett Packard Enterprise Co.
- International Business Machines Corp.
- Oracle Corp.
- PTC Inc.
- SAS Institute Inc.
- Teradata Corp.
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IoT Data Management Market Outlook (Revenue, $Bn, 2021-2026)
- Private/Hybrid Size and Prognosis 2021-2026
- Public – size and forecast 2021-2026
IoT Data Management Market Geography Outlook (Revenue, USD bn, 2021-2026)
- North America – Size and forecast 2021-2026
- Europe – Size and forecast 2021-2026
- APAC – Size and Forecast 2021-2026
- South America – Size and forecast 2021-2026
- MEA – size and forecast 2021-2026
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Market scope for IoT data management |
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report coverage |
details |
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page number |
120 |
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base year |
2021 |
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forecast period |
2022-2026 |
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Growth Dynamics & CAGR |
Deceleration at a CAGR of 13.68% |
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Market growth 2022-2026 |
$94.79 billion |
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market structure |
fragmented |
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YoY Growth (%) |
18.50 |
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Regional Analysis |
North America, Europe, APAC, South America and MEA |
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make a market contribution |
North America at 35% |
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Important consumer countries |
USA, UK, China, Germany and Japan |
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competitive landscape |
Leading companies, competitive strategies, levels of consumer engagement |
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company profiled |
Alphabet Inc., Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Oracle Corp., PTC Inc., SAS Institute Inc. and Teradata Corp. |
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market dynamics |
Stem Market Analysis, Market Growth Drivers and Obstacles, Fast Growing and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for Forecast Period, |
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customization area |
If our report does not contain the data you are looking for, you can contact our analysts and have segments adjusted. |
