Sensor Data Analytics Market -Share, Growth, Trends, Covid-19 Impact, And Forecast (2020- 2027)


Posted April 9, 2021 by marketresearch1292

The global market of sensor data analytics is booming and expected to gain prominence over the forecast period.

 
Sensor Data Analytics Market Scenario:

The Sensor Data Analytics Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Sensor Data Analytics Market highlights the future prediction and the growth alternatives that can be created.

The global sensor data analytics market is driven due to high adoption of internet of things, which are boosting the market growth sensor data analytics. The increasing demand of visualize real-time sensor data, are propelling the sensor data analytics market growth in the forthcoming years. The failure in machine in manufacturing which are hampering the growth of sensor data analytics market.

The global market of sensor data analytics is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2020, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2020 – 2027).

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Competitive Outlook:

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.).

Segmentation:
• 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.

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 European region has acquired the next largest market share in the global sensor data analytics market. The resurging economy in the region is undoubtedly contributing to the market growth significantly, augmenting the uptake of sensor data analytics across the region. Attributing to the increased adoption of cloud technology and significant technological advancements alongside the increasing number of SMEs in the region, the Europe sensor data analytics market is expected to grow with a strong CAGR from 2016 to 2022.

The Asia Pacific region is emerging as one of the lucrative markets for the sensor data analytics, globally. Factors such as increasing urbanization and growing sectors such as healthcare, manufacturing, retail, and telecommunication backed by the improving economy in the region, foster the market growth. Owing to the presence of foreign players where sensor data analytics is being deployed, the APAC sensor data analytics market is expected to post a remarkable CAGR during 2016-2022.

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Last Updated April 9, 2021