IoT Analytics Market to Reach USD 180.36 Billion by 2032 | SNS Insider

The IoT Analytics market is expanding rapidly, driven by increasing IoT adoption, real-time data processing, and AI-driven analytics across industries.

AUSTIN, TX, UNITED STATES, February 21, 2025 /EINPresswire.com/ -- The IoT Analytics Market was valued at USD 26.90 billion in 2023 and is expected to reach USD 180.36 billion by 2032, growing at a CAGR of 23.60% from 2024-2032. This includes insights into adoption rates of emerging IoT technologies, network infrastructure expansion across regions, and cloud services usage. Additionally, it examines user demographics in 2023, highlighting key trends shaping market growth. Increasing connectivity, data-driven decision-making, and advancements in AI-driven analytics are driving widespread adoption across industries.

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Keyplayers:
Accenture (myConcerto, Accenture Intelligent Platform Services)
Aeris (Aeris IoT Platform, Aeris Mobility Suite)
Amazon Web Services, Inc. (AWS IoT Core, AWS IoT Analytics)
Cisco Systems, Inc. (Cisco IoT Control Center, Cisco Kinetic)
Dell Inc. (Dell Edge Gateway, Dell Technologies IoT Solutions)
Hewlett Packard Enterprise Development LP (HPE IoT Platform, HPE Aruba Networks)
Google (Google Cloud IoT, Google Cloud BigQuery)
OpenText Web (OpenText IoT Platform, OpenText AI & IoT)
Microsoft (Azure IoT Suite, Microsoft Power BI)
Oracle (Oracle IoT Cloud, Oracle Analytics Cloud)
PTC (ThingWorx, Vuforia)
Salesforce, Inc. (Salesforce IoT Cloud, Salesforce Einstein Analytics)
SAP SE (SAP Leonardo IoT, SAP HANA Cloud)
SAS Institute Inc. (SAS IoT Analytics, SAS Visual Analytics)
Software AG (Cumulocity IoT, webMethods)
Teradata (Teradata Vantage, Teradata IntelliCloud)
IBM (IBM Watson IoT, IBM Maximo)
Siemens (MindSphere, Siemens IoT 2040 Gateway)
Intel (Intel IoT Platform, Intel Analytics Zoo)
Honeywell (Honeywell IoT Platform, Honeywell Forge)
Bosch (Bosch IoT Suite, Bosch Connected Industry)

By Deployment, Cloud Segment Leads IoT Analytics Market, On-Premises IoT Analytics to Grow at Fastest Rate
In 2023, the Cloud segment held the largest share in IoT Analytics market, with around 69% of the total revenue. This widespread use is due to the cloud solution being highly scalable, flexible, and economical. With organizations creating massive amounts of IoT data, cloud platforms offer the required infrastructure for hassle-free processing and storage without making huge initial investments.
On-Premises segment is also expected to advance at the fastest growth rate of 25.08% from 2024 to 2032, driven by surging fear about data security, privacy, and compliance. Most enterprises dealing with confidential data prefer on-premises solutions to have higher storage and analytics control. When the regulations for data protection are becoming more stringent and security threats are increasing, the need for on-premises IoT analytics solutions is likely to grow profoundly.

By Component, Solutions Segment Leads IoT Analytics Market, Services Segment to Grow at Fastest Rate
In 2023, the Solutions segment dominated the IoT Analytics market, securing approximately 70% of total revenue. This leadership is driven by businesses increasingly relying on IoT analytics to optimize operations, enhance decision-making, and elevate customer experiences. As organizations handle massive volumes of real-time data, significant investments in advanced software and infrastructure.
The Services segment is projected to grow at the fastest CAGR of 25.60% from 2024 to 2032, driven by rising demand for ongoing support, integration, and consulting services. As IoT analytics solutions become more complex, organizations are seeking expert guidance to maximize their investments. The need for seamless system integration, tailored solutions, and specialized consulting is fueling rapid growth in the services sector, making it a key area of expansion.

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By End Use, Manufacturing Segment Leads IoT Analytics Market, Healthcare & Life Sciences to See Fastest Growth
In 2023, the Manufacturing segment dominated the IoT Analytics market, capturing around 30% of total revenue. This leadership stems from the industry's widespread adoption of IoT technologies to optimize operations, enhance production efficiency, and minimize downtime. By leveraging IoT sensors and analytics, manufacturers gain real-time insights into machine performance, supply chains, and quality control.

The Healthcare & Life Sciences segment is expected to grow at the highest CAGR of 27.03% from 2024 to 2032, driven by the increasing use of IoT for real-time monitoring, personalized treatments, and enhanced patient care. With the growing adoption of wearable devices and remote monitoring tools, demand for advanced analytics to process healthcare data is surging. This trend is fueling the segment’s rapid expansion in the coming years.

By Type, Descriptive Analytics Segment Leads IoT Analytics Market, Prescriptive Analytics to Grow Fastest
Descriptive Analytics dominated the IoT Analytics industry in 2023 with nearly 37% of overall revenues. Its universality is the result of it playing a very important function for summarizing previous data, searching for trends, and measuring performance in operations. Companies use descriptive analytics to uncover patterns and to measure past results, thus, it forms a core part of IoT data processing for making the right decisions and strategic planning.
The Prescriptive Analytics segment is expected to record the highest CAGR of 25.64% during the forecast period from 2024 to 2032, driven by increasing demand for actionable insight and predictive decision-making. Prescriptive analytics, as opposed to traditional analytics, allows organizations to foresee future results and suggest best-fit actions in real time.

By Application, Predictive Maintenance Leads IoT Analytics Market with Proactive Equipment Monitoring, Asset Management to Experience Fastest Growth
In 2023, the Predictive Maintenance segment dominated the IoT Analytics market, capturing approximately 30% of total revenue. Its widespread adoption across industries like manufacturing, energy, and transportation is driven by IoT-enabled monitoring solutions that predict equipment failures in real time. By enabling condition-based maintenance, companies minimize downtime and reduce costs.

The Asset Management segment is projected to grow at the fastest CAGR of 26.77% from 2024 to 2032, fueled by the increasing demand for real-time asset tracking and optimization. Businesses are leveraging IoT-powered solutions to enhance asset utilization, reduce inefficiencies, and extend asset lifecycles.
North America Leads IoT Analytics Market with Strong Infrastructure and High Adoption, Asia Pacific to Witness Fastest Growth
In 2023, North America dominated the IoT Analytics market, securing approximately 37% of total revenue. This leadership is driven by the region’s advanced technological infrastructure, widespread IoT adoption, and presence of key industry players across manufacturing, healthcare, and automotive sectors. With increasing demand for real-time analytics and significant investments in smart technologies.

The Asia Pacific region is set to grow at the fastest CAGR of 26.08% from 2024 to 2032, fueled by rapid urbanization, expanding industrialization, and strong government support for smart city initiatives. As businesses and governments accelerate investments in IoT solutions to enhance efficiency and innovation, the demand for IoT analytics is surging.

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