(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 24, 2021, 01:21 /Comserve / -- The global AoT market size is expected to grow from USD 7.19 billion in 2017 to USD 27.78 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 31.0%.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
The global AoT market size is expected to grow from USD 7.19 billion in 2017 to USD 27.78 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 31.0%. Tremendous growth in Internet of Things (IoT) data is also fueling the growth of this market. Ownership and control of data, and lack of real-time algorithms are the biggest restraints for the AoT market. Emergence of edge analytics, and technological development in Platform as a Service (PaaS) will create opportunities for the growth of this market.
“Predictive maintenance and asset management application is expected to record the largest market size in 2017 in the AoT market. The trend is expected to continue during the forecast period”
Predictive analytics using IoT sensor is driving the overall AoT application market, primarily on account of the predictive maintenance and asset management application. Organizations are developing predictive diagnostic models by integrating equipment fitted with sensors to detect problems and take proactive actions.
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“APAC is projected to grow at the highest rate during the forecast period”
The AoT market growth in Asia Pacific (APAC) region has started to gain momentum and is expected to witness the highest growth rate in the next few years. Rising awareness about the increase in business productivity, supplemented by competently designed AoT solutions offered by the vendors present in this region, has led APAC to become a highly potential market. This region is witnessing an increasing demand for cloud-driven AoT solutions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of the primary participants is given below:
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• By Company: Tier 1: 22%, Tier 2: 30%, and Tier 3: 48%
• By Designation: C-level: 30%, Director level: 45%, and Others: 25%
• By Region: North America: 48%, Europe: 30%, and APAC: 22%
The key vendors profiled in the report are as follows:
1. IBM Corporation (US)
2. Microsoft Corporation (US)
3. Oracle Corporation (US)
4. SAP SE (Germany)
5. Cisco Systems, Inc., (US)
6. Dell Technologies, Inc. (US)
7. Google, Inc. (US)
8. Amazon Web Services, Inc. (US)
Research Coverage
The report segments the AoT market based on components, which include software and services; the software segment comprises sensor data analytics, IoT gateway analytics, and network management, whereas the services segment is segmented into managed services and professional services. Under professional services, the report is further segmented into support and maintenance, and consulting services. Based on deployment models, the market is segmented into on-premises and cloud. Under organization size, it is segmented into Small and Medium-Sized Enterprises (SMEs) and large enterprises, whereas under the application segment, the market is segmented into energy management, predictive maintenance and asset management, inventory management, security and emergency management, sales and customer management, building automation, IT infrastructure management, remote monitoring, and others. Under analytics type, the market includes predictive, prescriptive, and descriptive analytics. Under industry verticals, the market includes manufacturing; retail and eCommerce; government and defense; healthcare and life sciences; telecommunications and IT; energy and utilities; Banking, Financial Services, and Insurance (BFSI); and others. The regions are segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
Reasons to buy the report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the AoT market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different industry verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes new product launches/developments; partnerships and collaborations; mergers and acquisitions; and expansions.
TABLE OF CONTENTS
1 INTRODUCTION 16
1.1 OBJECTIVES OF THE STUDY 16
1.2 MARKET DEFINITION 16
1.3 MARKET SCOPE 17
1.4 YEARS CONSIDERED FOR THE STUDY 18
1.5 CURRENCY 19
1.6 STAKEHOLDERS 19
2 RESEARCH METHODOLOGY 20
2.1 RESEARCH DATA 20
2.1.1 SECONDARY DATA 21
2.1.2 PRIMARY DATA 21
2.1.2.1 Breakdown of primaries 22
2.1.2.2 Key industry insights 22
2.2 MARKET SIZE ESTIMATION 24
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