IoT Analytics Market to reach USD 180.36 billion by 2032, driven by rising demand for real-time insights and smart tech investments | SNS Insider

GlobeNewswire On April 24, 2025 19:00 IST

The IoT Analytics market is growing rapidly, fueled by rising connected devices, real-time data insights, and advancements in AI and cloud technologies.

Pune, April 24, 2025 (GLOBE NEWSWIRE) — IoT Analytics Market Size Analysis:

“The IoT Analytics Market was valued at USD 26.90 billion in 2023 and is projected to reach USD 180.36 billion by 2032, expanding at a CAGR of 23.60% during the forecast period from 2024 to 2032.”

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Major Players Analysis Listed in this Report are:

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)

IoT Analytics Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 26.90 Billion
Market Size by 2032	USD 180.36 Billion
CAGR	CAGR of 23.60% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	• Rapid Expansion of IoT Devices Drives Growing Demand for Advanced Data Analytics Solutions • AI and Machine Learning Integration Enhances IoT Analytics for Smarter Ecosystems

The rapid growth of the IoT Analytics Market is primarily driven by the surge in connected devices and the increasing need to extract actionable insights from vast volumes of IoT-generated data. Businesses across industries are leveraging IoT analytics to enhance operational efficiency, reduce downtime, and make real-time decisions. The expansion of smart infrastructure, smart cities, and industrial IoT applications is further fueling demand. Additionally, advancements in AI, machine learning, and cloud computing are enabling more sophisticated analytics capabilities. The rising focus on predictive maintenance and improved customer experiences is also contributing to growth.

The U.S. IoT Analytics Market was valued at USD 6.98 billion in 2023 and is projected to reach USD 45.45 billion by 2032, expanding at a CAGR of 23.14% during the forecast period from 2024 to 2032.

The U.S. IoT Analytics Market is experiencing strong growth due to widespread adoption of IoT technologies across key industries such as healthcare, manufacturing, and transportation. The increasing need for real-time data analysis to optimize operations, improve decision-making, and enhance customer experiences is fueling demand. Additionally, advancements in AI, edge computing, and 5G connectivity are supporting more efficient and scalable analytics solutions.

By Type, Descriptive Analytics Segment Dominated IoT Analytics Market in 2023 Driven by Its Critical Role in Historical Data Analysis and Performance Insights

In 2023, the Descriptive Analytics segment commanded the highest share of the IoT Analytics market, generating approximately 37% of total revenue. This share is justified by its inherent function of explaining past IoT data, thereby allowing organizations to grasp past performance and operational patterns. Descriptive analytics has been widely used across various sectors, allowing businesses to identify trends, measure efficiency, and make effective choices, making it the central part of IoT data analysis tools.

By Component, Solutions Segment Leads IoT Analytics Market in 2023 with Significant Revenue Share

In 2023, the Solutions segment captured the largest share of the IoT Analytics market, representing about 70% of total revenue. This dominance is fueled by increasing demand for sophisticated analytics solutions that allow businesses to streamline operations, improve decision-making, and provide better customer experiences. As companies increasingly turn to real-time data processing, they are spending on high-performance software and infrastructure, making the Solutions segment a key market growth driver.

By Organization Size, Small & Medium Enterprises Segment to Witness Fastest Growth in IoT Analytics Market

The Small & Medium Enterprises (SMEs) segment is projected to register the fastest CAGR of around 26.13% during 2024-2032. This growth is led by the increasing availability of affordable, cloud-enabled IoT analytics platforms that enable larger numbers of small firms to avail advanced data analytics capabilities. With increasing recognition by SMEs of the potential of analytics for improving efficiency, customer engagement, and competitive advantage, adoption is expected to grow comprehensively across industries.

By Deployment, Cloud Segment Dominated IoT Analytics Market in 2023 Owing to Its Scalability, Flexibility, and Cost Efficiency

In 2023, the Cloud segment led the IoT Analytics market, accounting for approximately 69% of total revenue. This strong market position is driven by the growing preference for scalable and flexible solutions that cloud platforms offer. With the increasing volume of data generated by IoT devices, organizations are turning to cloud infrastructure for efficient storage and real-time processing, avoiding the high capital costs of on-premises systems and enabling faster, more cost-effective analytics deployment across sectors.

By Application, Asset Management Segment Set to Record Fastest Growth in IoT Analytics Market

The Asset Management segment is expected to record the fastest CAGR of about 26.77% during the period between 2024 and 2032. The growth is spurred by the rising use of IoT technologies to track, manage, and optimize asset performance across various industries. With organizations seeking to optimize asset utilization, minimize operational inefficiencies, and maximize the lifespan of key equipment, the need for intelligent asset management solutions is gaining momentum, making this a prominent growth segment in the IoT Analytics market.

By End Use, Manufacturing Segment Led the IoT Analytics Market in 2023 Due to Rising Adoption for Operational Efficiency and Cost Reduction

In 2023, the Manufacturing segment emerged as the leading contributor to the IoT Analytics market, capturing around 30% of total revenue. This leadership is fueled by manufacturers increasingly embracing IoT technologies to improve production efficiency, minimize downtime, and streamline operations. Through real-time data from IoT sensors and analytics platforms, manufacturers gain valuable insights into equipment performance, supply chain management, and quality control, resulting in enhanced productivity, reduced costs, and a stronger competitive edge.

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IoT Analytics Market Segmentation:

By Type

Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics

By Component

Solution
Services

By Organization Size

Small & Medium Enterprises
Large Enterprises

By Deployment

On-Premises
Cloud

By Application

Energy Management
Predictive Maintenance
Asset Management
Inventory Management
Remote Monitoring
Others

By End Use

Manufacturing
Energy & Utilities
Retail & E-commerce
Healthcare & Life Sciences
Transportation & Logistics
IT & Telecom
Others

North America Led the IoT Analytics Market, Asia Pacific to Witness Fastest Growth

In 2023, North America dominated the IoT Analytics market, accounting for nearly 37% of the total revenue share. This leadership stems from the region’s advanced technological infrastructure, widespread IoT adoption, and the strong presence of key industry players in sectors such as healthcare, manufacturing, and automotive. High demand for real-time analytics and significant investments in smart technologies continue to reinforce North America’s leading market position.

The Asia Pacific region is expected to grow at the fastest CAGR of around 26.08% between 2024 and 2032. This rapid growth is driven by expanding industrial activity, accelerating urbanization, and increasing government support for smart city projects. As both public and private sectors invest in IoT solutions to enhance efficiency and innovation, demand for IoT analytics platforms is rising, making Asia Pacific the fastest-growing regional market in the coming years.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. IoT Analytics Market Segmentation, By Type

8. IoT Analytics Market Segmentation, By Deployment

9. IoT Analytics Market Segmentation, By Component

10. IoT Analytics Market Segmentation, By Organization Size

11. IoT Analytics Market Segmentation, By Application

12. IoT Analytics Market Segmentation, By End User

13. Regional Analysis

14. Company Profiles

15. Use Cases and Best Practices

16. Conclusion

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