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The increasing need to analyze the data collected through connected devices contribute to the growth of the connected device analytics market. The major growth drivers of the connected device analytics market include the increasing focus on remote monitoring in support of the work from home initiative. Lack of skilled professional workforce may restrain the growth of the connected device Rethihking market. The objective of the report is to define, describe, and forecast the connected device analytics market size based on component, organization size, deployment mode, application, industry vertical, and region.

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COVID is disrupting the world, businesses, and economies, thus impacting the livelihood of people live, their interaction, and the way they manage their businesses. The ability to sustain has become the new normal for enterprises here they shift their focus from growth opportunities and concentrate on implementing drastic measures to mitigate the impact of the COVID pandemic.

The competition among major connected device analytics companies is expected to be furious as most upcoming IoT and analytics projects are kept on hold due to the pandemic. Hence, several companies will fight to gain a single project.

Exam (elaborations)

Businesses have already started their efforts to return back to normal and are facing multiple challenges on the customer as well as the operational side. Meeting customer expectations in terms of optimizing processes, increasing security concerns due to various connected networks, growing connectivity issues, and declining industrial and manufacturing operations are some of the key challenges faced by businesses. New practices, such as work for home and social distancing, are creating the need for remote monitoring, smart payment technologies, and building the digital infrastructure for large scale deployments.

With an increased focus on health, there has been an increase in the demand for health-related wearable devices. The services segment to grow at a higher CAGR during the forecast period. The connected device analytics market is segmented on the basis of components, such as solutions and services.

The services segment is expected to grow at a rapid pace during the forecast period. An efficient connected device analytics service help organization develop a connected environment by integrating connected device analytics solution with their existing IT infrastructure.

Highlights

Rethinking Information Technology And Its Effects On The sales and customer management segment to grow at the highest CAGR during the forecast period. The connected device analytics market by application has been this web page into security and emergency management, sales and customer management, remote monitoring, predictive maintenance and asset management, inventory management, energy management, building automation, others IT infrastructure management, product and process management, and cost optimization.

The sales and customer management segment to grow at the highest CAGR during the forecast period, due to the growing business focus to provide optimized customer experience by in-store customer targeting, queue minimization, safety analytics, predictive care, medication monitoring, and citizen self-service. The connected device Reghinking market by industry vertical has been segmented into manufacturing, transportation and logistics, energy and utilities, retail and eCommerce, Rethinking Information Technology And Its Effects On, financial services, and insurance, healthcare and life sciences, government and defense, others media and Infodmation, travel and hospitality, and education.

The retail and eCommerce segment to grow at the highest CAGR during the forecast period, due to the growing complexities to take a wide variety of actions associated with lowering risks, addressing an outage, or making a real-time offer to a customer to capture a sales opportunity in retail and eCommerce industry vertical would drive the growth of the Infrmation device analytics market.

The increasing investments by the tech companies in major APAC countries, such as China, and Japan, increasing government regulations and initiatives are expected to drive the growth of the market in APAC.

View source version on businesswire. Press release content from Business Wire.]