Collaborations a major component of the North America IoT analytics market

To cater to the unending demand for IoT among business organizations and offer them cutting-edge technology, key players in the IoT analytics market have entered into joint ventures and partnerships with other players. Several connected device manufacturers such as Cisco Systems, telecommunication giant AT&T and tech conglomerates such as IBM Corporation have decided to offer smart solutions for the purpose of advanced data analytics. This is typically by way of IoT platforms. For e.g. – In March 2017, IBM Corp. partnered with AT&T to provide enterprise customers with industrial IoT data insights.

AT&T uses IBM products such as IBM Machine learning, IBM Watson Data Platform, and Watson IoT Platform to manage devices and apps and offer insights from different sources of data. IBM Corp. also collaborated with Cisco Systems in June 2016 to provide instantaneous IoT insights at the network edge. Customers at remote, far-flung locations could be immensely benefited with these combined solutions of IBM Watson and Cisco’s edge analytics that help in the better understanding of network edge critical data.

The IoT (Internet of Things) analytics market refers to the industry that provides analytical solutions for the massive amounts of data generated by IoT devices. IoT devices are connected to the internet and can gather and transmit data about their environment or usage. This data can be used to improve business operations, optimize resource utilization, and enhance customer experiences.

The IoT analytics market includes a wide range of software and hardware solutions that help businesses collect, manage, analyze, and visualize IoT data. These solutions can include data analytics platforms, cloud services, data visualization tools, and machine learning algorithms.

North America alone is worth almost 2/3rds of the global IoT analytics market

North America accounts for a lion’s share of the global IoT analytics market and is poised to continue its dominance throughout the forecast period. Within North America, the U.S. is far larger than Canada and it was valued at slightly above US$ 8.8 Bn in 2016. Canada, on the other hand, is poised to record high Y-o-Y growth rates along with a substantial CAGR of 21.2% from 2017 – 2025.

As a result of its well-developed medical infrastructure coupled with an ageing population, healthcare is predicted to be the most attractive vertical in the North America IoT analytics market and it was worth just under US$ 4.3 Bn in 2016. Healthcare is anticipated to show steady revenue growth throughout the forecast period, painting a bright future for key stakeholders in this industry.