IoT Analytics Market Size, Growth Opportunities, Revenue Share Analysis, and Forecast To 2028
The increasing development of smart cities, smart homes, and smart factories are driving the market for IoT Analytics. Market Size – USD 16.29 Billion in 2020, Market Growth - CAGR of 26.70%, Market Trends – The increasing adoption of IoT in emerging nations. The global Iot Analytics Market is forecast to reach USD 109.81 Billion by 2028, according to a new report by Reports and Data. IoT analytics is the application for analyzing the data generated from the connected IoT devices. The growing adoption of IoT devices from different industries for sharing of data and enhancing their productivity with real-time monitoring is driving the global IoT analytics market. Governments across the globe are investing highly in the development of smart cities, which is also increasing the demand for IoT devices, and with the rise in the number of IoT devices, the need for analysis of data is also required to predict the demand of the users. Benefits of IoT analytics is that it can analyze the