Global Internet of Things (IoT) Analytics market is projected to grow by $89.4 billion
According to the “Internet of Things (IoT) Analytics – Market Analysis, Trends, and Forecasts” report released by Research and Markets, Internet of Things (IoT) Analytics market worldwide is projected to grow by $89.4 billion, guided by a compounded growth of 40.1%.
Staying on top of trends is essential for decision-makers to leverage this emerging opportunity. On-Premise, one of the segments analyzed and sized in the study, displays the potential to grow at over 33.4%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market.
Poised to reach over $39.5 billion by the year 2025, On-Premise will bring in healthy gains adding significant momentum to global growth.
While global megatrends sweeping through the market influence the primary direction of growth, regional markets are swayed by more granular locally unique business drivers. Representing the developed world, the United States will maintain a 47.9% growth momentum.
Within Europe, which continues to remain an important element in the world economy, Germany will add over $8.3 billion to the region’s size and clout in the next 5 to 6 years. Over $3.8 billion worth of projected demand in the region will come from other emerging Eastern European markets.
In Japan, On-Premise will reach a market size of $2.4 billion by the close of the analysis period. As the world’s second-largest economy and the new game-changer in global markets, China exhibits the potential to grow at 37.5% over the next couple of years and add approximately $13.9 billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.