Connected Device Analytics Market set to reach USD 173.96 billion by 2032 with 23.0% CAGR

From GlobeNewswire: 2025-02-06 10:00:00

The Connected Device Analytics Market was valued at USD 26.94 billion in 2023, set to reach USD 173.96 billion by 2032 with a 23.0% CAGR. Growth is driven by IoT device adoption, AI, and big data, enabling real-time data analysis for improved operations, asset management, customer experience, and predictive maintenance.

Key players in the market include Microsoft, Oracle, IBM, SAP, PTC, Cisco, Google, SAS Institute, Adobe, and more, offering solutions for IoT analytics and data management. The market scope covers key regions like North America, Europe, Asia Pacific, Middle East & Africa, and Latin America, with North America leading in market share.

In 2023, the Solution segment led the Connected Device Analytics Market, accounting for 64% of revenue share. Companies like Oura and Jaguar are innovating advanced solutions for health tracking and smart vehicles. The Services segment is expected to grow at a CAGR of 23.99%, offering specialized services for deploying and managing analytics solutions.

Large enterprises dominated the market in 2023, investing in connected device analytics for operational enhancement and customer experience. Small and medium-sized enterprises (SMEs) are expected to witness rapid growth, driven by affordable, scalable analytics solutions from cloud providers like AWS and Google.

North America held a significant share of the market in 2023, with companies like Microsoft, IBM, Cisco, and AWS leading in innovative solutions. The Asia Pacific (APAC) region is projected to be the fastest-growing market, driven by IoT device adoption, smart city expansion, and digital transformation in countries like China, India, Japan, and South Korea. China and India’s focus on smart manufacturing and healthcare are driving growth in connected device analytics in the region. Microsoft acquired Aquantive to expand its analytics solutions. ServiceNow integrated with Oracle’s Autonomous Database to enhance Workflow Data Fabric capabilities, improving operational efficiency. For more details and consulting services, visit SNS Insider’s website.



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