Connected Device Analytics Market To Surpass USD 173.96B By 2032 Due To Iot And AI Integration Growth | Research By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Connected Device Analytics Market is growing rapidly due to the rise of IoT, AI, and big data analytics across various industries.

Pune, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Connected Device Analytics Market Size Analysis:

“ The Connected Device Analytics Market size was USD 26.94 billion in 2023 and is expected to reach USD 173.96 Billion by 2032 and grow at a CAGR of 23.0% over the forecast period of 2024-2032. ”

Rapid Growth of the Connected Device Analytics Market

The Connected Device Analytics Market is expanding quickly due to the widespread adoption of IoT devices, AI, and big data across sectors like healthcare, manufacturing, and retail. The utilization of analytics enables organizations to analyze real-time data from smart devices, improving the efficiency of their operations, managing assets, providing better customer experience, and doing predictive maintenance. The increasing penetration of remote monitoring and secure device technologies, including the U.S. Cyber Trust Mark Initiative, is further helping the market growth. As more IoT devices spread across households, the need for strong analytics solutions to manage and secure those devices continues to propel the market expansion.

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Major Players Analysis Listed in this Report are:

• Microsoft (US) (Azure IoT, Power BI)
• Oracle Corporation (US) (Oracle IoT Cloud, Oracle Analytics Cloud)
• IBM Corporation (US) (IBM Watson IoT, IBM Cognos Analytics)
• SAP SE (Germany) (SAP Leonardo IoT, SAP Analytics Cloud)
• PTC (US) (ThingWorx, Kepware)
• Cisco (US) (Cisco Kinetic, Cisco Jasper)
• Google (US) (Google Cloud IoT Core, Google BigQuery)
• SAS Institute (US) (SAS IoT Analytics, SAS Visual Analytics)
• Adobe (US) (Adobe Analytics, Adobe Sensei)
• Teradata (US) (Teradata Vantage, Teradata IoT Analytics)
• AWS (US) (AWS IoT Analytics, Amazon QuickSight)
• HPE (US) (HPE Edgeline, HPE Vertica)
• Hitachi (Japan) (Hitachi Lumada, Pentaho)
• Software AG (Germany) (Cumulocity IoT, TrendMiner)
• GE (US) (GE Digital Predix, GE APM (Asset Performance Management))
• Cloudera (US) (Cloudera DataFlow, Cloudera Machine Learning)
• Guavus (US) (Guavus AI-based Analytics, Guavus Reflex)
• Splunk (US) (Splunk Industrial IoT, Splunk Enterprise)
• TIBCO Software (US) (TIBCO Spotfire, TIBCO Streaming)
• Qlik (US) (Qlik Sense, Qlik Data Integration)
• Salesforce (US) (Salesforce IoT Cloud, Tableau)
• Infor (US) (Infor IoT, Infor Birst)
• Mnubo (Canada) (Mnubo SmartObjects, Mnubo Data Science Studio)
• Arundo Analytics (US) (Arundo Edge, Arundo Analytics Platform)
• Iguazio (Israel) (Iguazio Data Science Platform, Iguazio Nuclio)
• Striim (US) (Striim Real-time Streaming, Striim Cloud)

Connected Device Analytics Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 26.94 Billion
Market Size by 2032	US$ 173.96 Billion
CAGR	CAGR of 23.0 % From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	. Growing Adoption of IoT and Smart Devices Across Industries Fuels the Connected Device Analytics Market Growth . Rising Need for Predictive Maintenance and Remote Monitoring Accelerates the Connected Device Analytics Market Expansion

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Segment Analysis

By Component

In 2023, the Solution segment led the Connected Device Analytics Market, accounting for 64% of the total revenue share. The driving force behind the increasing demand is the need for complete analytics solutions that help an organization process, analyze, and interpret the significant amount of data produced by all connected devices. Companies are thus working to innovate advanced solutions that can cater to this growing need.

For example, Oura launched the Oura Ring 4, offering advanced health tracking through analytics, while Jaguar and Vodafone demonstrated the integration of connected device analytics in the automotive sector with their smart hub-enabled vehicles.

The Services segment is expected to grow at a CAGR of 23.99% during the forecast period, driven by the increasing need for specialized services such as consulting, system integration, and managed services. These services assist businesses in deploying, managing, and optimizing connected device analytics solutions, helping organizations derive maximum value from their investments.

By Organization Size

large enterprises held the dominant share of the market in 2023, contributing to 63% of the total revenue. Large companies invest heavily in connected device analytics to enhance operations, improve customer experience, and drive digital transformation.

small and medium-sized enterprises (SMEs) are witnessing the fastest growth in the forecasted period, driven by the availability of affordable, scalable analytics solutions. Cloud-based platforms from providers such as AWS and Google are enabling SMEs to adopt connected device analytics without significant capital expenditure.

Connected Device Analytics Market Segmentation:

By Component

• Solution
• Service

By Application

• Sales and Customer Management
• Security & Emergency Management
• Remote Monitoring
• Predictive Maintenance Asset Management
• Inventory Management
• Energy Management
• Building Automation
• Others

By Organization Size

• Large Enterprise
• Small and Medium Size Enterprise

By Deployment Mode

• On-premises
• Cloud

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Regional Analysis

In 2023, North America held a significant share of the Connected Device Analytics Market, accounting for approximately 38% of the market. This dominance is contributed by the high technological infrastructure and the adoption of IoT devices and significant investments in digital transformation within the region. Major players in the market have been contributed to by companies like Microsoft, IBM, Cisco, and AWS as they have presented cutting-edge solutions in IoT, AI, and analytics.

The Asia Pacific (APAC) region is expected to be the fastest-growing market during the forecast period, with a CAGR of 25.58%. The rapid adoption of IoT devices, expansion of smart cities, and increasing digital transformation across the countries of China, India, Japan, and South Korea are the prime drivers for this growth. China's smart manufacturing initiatives and India's focus on agriculture, logistics, and healthcare are contributing significantly to the growth of connected device analytics in the region.

Recent Developments

• In January 2023, Microsoft acquired Aquantive, a provider of connected device analytics solutions, to expand its portfolio in this space.
• In January 2025, ServiceNow announced an integration with Oracle's Autonomous Database, enhancing its Workflow Data Fabric capabilities. This collaboration will improve operational efficiency by enabling real-time data exchange between Oracle's databases and the ServiceNow platform.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Connected Device Analytics Market Segmentation, By Component

8. Connected Device Analytics Market Segmentation, By Deployment Mode

9. Connected Device Analytics Market Segmentation, By Application

10. Connected Device Analytics Market Segmentation, By Organization Size

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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