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IoT Data Management Market Research Report – Segmentation by Components (Services, Solutions); Deployment Type (Public Cloud , Private Cloud ,Hybrid Cloud); Application (Smart Energy and Utilities, Smart Manufacturing, Building and Home Automation, Smart Healthcare , Smart Retail ,Smart Mobility and Transportation, Connected Logistics) ;and Region; - Size, Share, Growth Analysis | Forecast (2024– 2030)

IoT Data Management Market Size (2021 – 2022)

The Global IoT Data Management Market was valued at US$ 94.79 billion in 2021, and it is expected to reach US$ 216.9 billion by the end of 2030, growing at a 14.3% annual pace between 2022 and 2030. Every second, a massive amount of data is created in the webserver over the international spectrum. The numbers have grown dramatically since the internet of things (IoT) technology was introduced.

Market Overview

For the forecast period of 2022 to 2030, the worldwide IoT data management market is expected to grow at a CAGR of 14.3 %. The IoT data management app is frequently used in several high-profile sectors. Every second, a massive amount of data is created in the webserver over the international spectrum. The numbers have grown dramatically since the internet of things (IoT) technology was introduced. More and more connected devices are being pushed into the market by BFSI, healthcare, retail and consumer marketing, IT and telecommunications, and other industries.

IoT data management is a complicated data processing procedure that stores and accesses massive volumes of data that are generated every day. Because of the growing use of various IoT devices. the market produced more than 507.5 zettabytes (507.5 trillion GB) of data. To make access to such a large amount of data easier, the data management process involves data integration, metadata management, data analytics, and so on.

Covid-19 Impact on IoT Data Management Market

Covid-19 has impacted revenues in the IoT data management sector. The economy has been on hold and growing at a negative rate for several months due to nationwide lockdowns. Due to a reduction in primary investments, this circumstance has significantly slowed the development of technological breakthroughs. During the epidemic, investors became receptive to providing money for smart buildings and gadgets. The state of the affected end-user markets has ramifications for the market. However, once the lockdowns are lifted, the industries quickly recover. The internet is now more widely used than it has ever been, and markets are demanding efficient data management solutions. In the approaching years, this element will provide growth chances for the present market.

MARKET DRIVERS

The market growth is being driven by the rapid growth of industrial automation

Significant evolutionary changes are currently occurring in the industries, as well as an increase in automation processes. HMI has improved and Machine-to-Machine communication has been enabled thanks to the mix of physical and digital elements. Furthermore, the rise of Industry 4.0 has defined the entire product life cycle, with smart robots coordinating with humans to construct things and driverless transport trucks already operating logistics on their own. Higher efficiency, greater safety, predictive machine maintenance, and increased profitability are all possible when cyber systems and physical systems are combined in the industrial manufacturing industries. As a result, businesses all across the world are embracing Industry 4.0 to improve material flow.

The growing popularity of Internet of Things (IoT)-based smart devices is driving up demand for IoT data management solutions. 

The growing adoption of IoT devices has resulted in a considerable quantity of data traffic, necessitating the use of IoT data management solutions to control that traffic, boosting the market's

growth. Furthermore, technical advancements in wireless technologies are propelling the industry forward. The growing use of smart homes in North America is also propelling the loT data management industry forward. 

MARKET RESTRAINTS

The market's growth is being slowed by the availability of physical and digital security units.

The market is still dominated by human-operated data processing and security facilities. Another important factor impeding the growth of the IoT data management market is a lack of understanding and availability of newer technology. Small and medium companies (SMEs) from emerging nations account for a substantial portion of the market. There is a paucity of investment in IoT data management systems to replace aging equipment in these markets.

The lack of skilled labor is hampering the market growth

In the market, there is a significant shortage of trained and experienced employees. Although technology is new, and so are the procedures for maintaining and operating these devices, still these procedures require ability and competence, which necessitates the use of market-experienced personnel to carry out the required tasks which are lacking in the market.

This research report based on IoT Data Management Market is segmented and sub-segmented by Components, deployment type, application, region, and company.

IoT Data Management Market by Components

  • Services

  • Solutions

The Global IoT Data Management is divided into Solutions and Services based on Components. Data Integration is a subset of the Solution segment. Data visualization and analytics, as well as metadata management and data security, are all important. Enterprises need to regularly manage the data generated by sensor types, functions, locations, manufacturers, and serial numbers, hence the Metadata management solution category is predicted to grow at the fastest CAGR throughout the projection period. Viewing device IDs' life cycle status permissions, sensor readings, and forecasts is considerably easier with metadata management.

IoT Data Management Market by Deployment Type

  • Public Cloud

  • Private Cloud
  • Hybrid Cloud

Global loT Data Management is divided into three categories based on deployment type: public cloud, private cloud, and hybrid cloud. The hybrid cloud category is expected to dominate the market throughout this period, as hybrid cloud deployment models combine public and private cloud resources. A hybrid cloud combines the best features of both public and private clouds, allowing businesses to better preserve and control strategically critical workloads and data while saving money and resources. The benefits of hybrid cloud deployment, such as control, scalability, and cost-effectiveness, are driving demand for hybrid cloud deployment, which is fueling market expansion.

IoT Data Management Market by Application

  • Smart Energy and Utilities

  •  Smart Manufacturing
  •  Building and Home Automation
  •  Smart Healthcare
  •  Smart Retail
  •  Smart Mobility and Transportation
  •  Connected Logistics

Smart Energy and Utilities, Smart Manufacturing, Building, and Home Automation, Smart Healthcare, Smart Retail, Smart Mobility, Transportation, Connected Logistics, and Others are the application segments of the Global lOT Data Management market. The acceptance of smart wearable lOT devices and the adoption of smart homes is also increasing in the industry, and the growing development and use of smart IT devices in the healthcare sector are supporting the market's growth.

IoT Data Management Market by region

  • North America
  •  Europe
  •  Asia-Pacific
  •  Latin America
  •  The Middle East and Africa

Due to the rapidly growing automotive market, which is focusing on the complete self-driving ecosystem over the forecast period, as well as the growing demand for fleet management and intelligent transportation systems by courier delivery giants, North America holds the largest share of the global loT data management market. This will positively impact the loT data management market growth. The use of smart products such as speakers, watches, smart wearables, and smart homes that integrate loT devices is driving demand for loT data management solutions, which is propelling the market in this area even more. According to Sanford University and Avast's study, North American households have the highest density of Internet of Things devices in the world, which drives up demand for the technology.

Due to significant development in IT infrastructures, Asia-Pacific is predicted to have the highest growth rate during this period. The use of new technologies like as big data and analytics, the Industrial Internet of Things, the BYOD concept, remote asset management, and the cloud is propelling the market in the industries forward. The healthcare industry is booming in this region, and the government's focus on digitization in this sector is boosting demand for a variety of data management devices to manage data.

Due to the widespread use of IoT in the healthcare, home, and financial sectors in Europe, the demand for IoT data management is predicted to increase at a healthy rate in this region.

IoT Data Management Market by Company

The market for IoT Data Management is quite competitive. The increasing adoption of IoT across industry verticals has resulted in a significant increase in the number of opportunities available in the sector. Though currently dominated by a few major businesses, the market is projected to see some new entrants as the breadth of IoT applications across industries grows.

Google Inc. (US), Apple Inc. (US), Dell Technologies, Inc. (US), and Cisco Systems, Inc. (the US) are just a few of the prominent market players in the worldwide IoT data management industry.

NOTABLE HAPPENINGS IN THE IOT DATA MANAGEMENT MARKET IN THE RECENT PAST:

Product Launch

  • In June 2021, Actian introduced its Actian ZenTM database which is embedded and appropriate for IoT and mobile devices.

 Partnerships and Collaborations

  • In April 2021, Teradata and Antui.ai established a partnership to bring Pragmatic Artificial Intelligence Business Solutions to the retail and consumer packaged goods industries.
  •  In February 2021, Siemens and Red Hat announced a partnership to deliver open, flexible, and secure solutions for manufacturers and plant operators using hybrid cloud design.

Chapter 1. IoT Data Management Market – Scope & Methodology

1.1. Market Segmentation

1.2. Assumptions

1.3. Research Methodology

1.4. Primary Sources

1.5. Secondary Sources

Chapter 2.IoT Data Management Market– Executive Summary

2.1. Market Size & Forecast – (2022 – 2026) ($M/$Bn)

2.2. Key Trends & Insights

2.3. COVID-16 Impact Analysis

      2.3.1. Impact during 2022 - 2026

      2.3.2. Impact on Supply – Demand

Chapter 3.IoT Data Management Market– Competition Scenario

3.1. Market Share Analysis

3.2. Product Benchmarking

3.3. Competitive Strategy & Development Scenario

3.4. Competitive Pricing Analysis

3.5. Supplier - Distributor Analysis

Chapter 4.IoT Data Management Market - Entry Scenario

4.1. Case Studies – Start-up/Thriving Companies

4.2. Regulatory Scenario - By Region

4.3 Customer Analysis

4.4. Porter's Five Force Model

       4.4.1. Bargaining Power of Suppliers

       4.4.2. Bargaining Powers of Customers

       4.4.3. Threat of New Entrants

       4.4.4. Rivalry among Existing Players

       4.4.5. Threat of Substitutes

Chapter 5. IoT Data Management Market- Landscape

5.1. Value Chain Analysis – Key Stakeholders Impact Analysis

5.2. Market Drivers

5.3. Market Restraints/Challenges

5.4. Market Opportunities

Chapter 6.IoT Data Management Market – By Components

6.1. Services

6.2. Solutions

Chapter 7.IoT Data Management Market – By Deployment Type

7.1. Public Cloud

7.2. Private Cloud

7.3. Hybrid Cloud

Chapter 8.IoT Data Management Market – By Application

8.1. Smart Energy and Utilities

8.2.  Smart Manufacturing

8.3.  Building and Home Automation

8.4. Smart Healthcare

8.5.  Smart Retail

8.6.  Smart Mobility and Transportation

8.7.  Connected Logistics

Chapter 10. IoT Data Management Market – By Region

10.1. North America

10.2. Europe

10.3. The Asia Pacific

10.4. Latin America

10.5. The Middle East

10.6. Africa

Chapter 11.IoT Data Management Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)

11.1. Google Inc. (US)

11.2. Apple Inc. (US)

11.3. Dell Technologies

11.4. Inc. (US)

11.5. Cisco Systems

 

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