Sensor Data Analytics Market by Component (Hardware, Software, and Services) and Industry Vertical (Aerospace & Defense, Healthcare & Life Science, Manufacturing, Transportation & Logistics, Energy & Utilities, BFSI, Public Sector, and Others)
Sensor data analytics is the analytics of data through wired or wireless sensors. It is a configurable framework that is built to rapidly collect, process, and analyze all types of sensors and log data.
It offers scalable framework, improved processing time, generate useful insights, correlates multiple data formats from multiple sensors, and reduces data management costs.
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Advanced analytics on sensor data is becoming an integral part of manufacturing, consumer electronics, and other industries to enable new value-added products, business processes, and services.
Few of the applications of sensor data analytics include in healthcare sensing, smart grid, smart meters, fleet management, product monitoring, smart appliances, anomaly detection & diagnosis, customer behavior analytics, predictive maintenance & reliability analysis, and others.
The global sensor data analytics market is expected to register substantial growth in the near future, attributed to rise in concern over the necessity to put the data in a quantified form and the need of accuracy in data process management. Further, rise in adoption of Internet of Things (IoT) and increase in the market of Big Data analytics, which leads to introduction of advanced sensors is expected to offer significant growth opportunities for the sensor data analytics market.
However, high installation costs and lack of awareness as well as skills among end users hamper the market growth.
The report segments the market on the basis of component, industry vertical, and geography. As per component, the market is studied across hardware, software, and services.
Hardware segment is further segmented into camera, mike, satellite, and others. Services segment is further studied across consulting, maintenance, operation services, and others.
As per industry vertical, the market is analyzed across aerospace & defense, healthcare & life science, manufacturing, transportation & logistics, energy & utilities, BFSI, public sector, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players such as Tata Consultancy Services, SAP SE, AGT International Inc., HP Company, IBM Corporation, Cisco Systems, Qualcomm Inc., Verizon Communications, and Microsoft Corporation are also provided in the report.
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