Connected Device Analytics Market to Grow at 23.1% CAGR, Projected to Hit $378.2 Billion by 2031

The health and life science segment is expected to experience fastest growth in the coming years

WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 27, 2025 /EINPresswire.com/ -- The global 𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐞𝐝 𝐃𝐞𝐯𝐢𝐜𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 was valued at $48.2 billion in 2021, and is projected to reach $378.2 billion by 2031, growing at a CAGR of 23.1% from 2022 to 2031. Connected device analytics referred as smart devices connected to each other and also with the system with the help of a network. Connected device analytics is the use of specific analytical tools that are attached to the connected devices in order to extract value from large volumes of data produced in the devices. The data that is collected by these tools include network requests, error events, and device information. These analytical solutions are mainly accountable for gathering, integrating, and filtering data from the devices and the Internet of Things (IoT).

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 264 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A13001

Furthermore, increase in focus on remote monitoring in support of work from home initiatives and increase in penetration of the internet and IoT devices is boosting the growth of the global connected device analytics market. In addition, increase in use of digital transformation technology is positively impacting growth of the connected device analytics market. However, lack of skilled workforce and increase in security concerns is hampering the connected device analytics market growth. On the contrary, increase in real-time analytics emerging as a key vital IoT initiative is expected to offer remunerative opportunities for expansion during the connected device analytics market forecast.

Depending on enterprise size, the large enterprise segment holds the largest connected device analytics market share as large enterprises are adopting connected device analytics to protect all their infrastructures. However, the SMEs segment is expected to grow at the highest rate during the forecast period, owing to increase adoption of IoT to reduce cyber threats and hacking to maintain data confidentiality, and integrity.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/connected-device-analytics-market/purchase-options

Region-wise, the connected device analytics market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, large scale adoption of IoT and cloud services. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increasing investment in emerging technologies such as IIoT projects.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐎𝐫𝐚𝐜𝐥𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐈𝐁𝐌 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐆𝐨𝐨𝐠𝐥𝐞 𝐋𝐋𝐂, 𝐀𝐝𝐨𝐛𝐞, 𝐌𝐢𝐜𝐫𝐨𝐬𝐨𝐟𝐭 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐀𝐦𝐚𝐳𝐨𝐧 𝐖𝐞𝐛 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐈𝐧𝐜., 𝐒𝐀𝐏 𝐒𝐄, 𝐇𝐢𝐭𝐚𝐜𝐡𝐢 𝐋𝐭𝐝., 𝐂𝐢𝐬𝐜𝐨 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐈𝐧𝐜., 𝐓𝐞𝐫𝐚𝐝𝐚𝐭𝐚 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A13001

The COVID-19 pandemic is expected to positively impact the overall economy of the connected device analytics market, in addition, with the pandemic eventually receding, sales and service organizations may have to continue accommodating new attitudes and behaviors and take immediate action to meet customer expectations in the post-crisis era. Furthermore, the telecom sector, in particular, plays a vital role across the globe to support the digital infrastructure of countries amid the COVID-19 pandemic. For instance, according to Global Digital Transformation Survey of Fujitsu in 2021, offline organizations were damaged more, while online organizations witnessed growth in online demand and an increase in revenue. 69% of the business leaders from online organizations have indicated that they witnessed an increase in their business revenue in 2020.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A13001

Moreover, various public and private entities are expected to come together to create ecosystems to share data for multiple use cases under a common regulatory and cybersecurity framework, which, in turn, is expected to provide lucrative opportunity for the growth of the global connected device analytics industry.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By component, the solution segment accounted for the largest connected device analytics market share in 2021.

Region wise, North America generated highest revenue in 2021.

Depending on industry vertical, the manufacturing segment generated the highest revenue in 2021.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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