Analytics of Things (AoT) Market to See Tremendous Growth through 2023

LONDON, BIOT - Aug. 29, 2017 - PRLog -- Novel wireless technologies, mobile devices and sensors are boosting the IoT evolution; however, the real business value of the technology lies in analytics. Advanced analytics can provide meaningful insights that could help to transform consumer experiences, develop new products and services, optimize operations, save costs, etc. With improved accuracy, real-time analytics and advanced security features, the IoT devices are emerging as highly efficient data sources points.

Today, analytic of things (AoT) has become highly relevant on few industries like logistics, manufacturing and utilities. Analytics is used to power grid systems for continuous monitoring, preventive maintenance and proactive management of power supply. Most manufacturing plants and fleets in logistics have already adopted Internet-enabled sensors, and thus these businesses make use of analytics. Major new business processes and systems are predicted incorporate at least some elements of IoT analytics in the coming years. Large companies, who have prioritized low cost solutions are poised to deploy AoT solutions on cloud. Early adopters of IoT and analytics announce that AoT helps to boost revenues and enhance customer satisfaction.

Encouraged by expanding penetration of IoT-enabled devices, breakthrough advancements in wireless technologies, escalating usage of predictive analytics across businesses, uptake in efficiency of connected devices and also rising end-to-end automation, growth in the world's AoT analytics market is projected to gain momentum at robust pace in the years ahead.

The world's AoT market is forecast to witness tremendous growth at a high double-digit CAGR of 28.2% during 2017-2023. By the year 2023, the value of the AoT market is expected to amount to USD 23.99 billion.

Owing to ability to reduce costs and increase operational efficiencies, IoT and analytics gain popularity worldwide. At present, North America grabs the biggest chunk of the overall market due to wide adoption of ioT solutions and well-developed ecosystem in the region along with presence of leading IoT players. Meantime, this market is yet to tap the entire potential as some organisations are still unsure about the technology.

More information on the AoT market can be found in the cutting-edge in-demand report "Analytics of Things Market: Global Drivers, Opportunities, Trends, and Forecast to 2017–2023 (https://marketpublishers.com/report/technologies_electron...)" prepared by Infoholic Research and recently added at MarketPublishers.com. This report includes a comprehensive analysis of the world's market and presents access to top-level qualitative and quantitative data on the market performance at different geographical levels, dynamics, key growth influencing factors, competitive landscape, etc.

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