Internet of Things Analytics Market Size Worth USD 307.72 Billion by 2034 | CAGR: 24.7%

The global Internet of Things (IoT) analytics market size is expected to reach USD 307.72 billion by 2034, according to a new study by Polaris Market Research. The report “Internet of Things Analytics Market Size, Share, Trends, Industry Analysis Report: By Component (Solutions and Services), Organization Size, Deployment, Type, Application, End Use, Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The IoT analytics market involves the use of advanced data analytics techniques to process and interpret the massive amounts of data generated by connected devices within IoT ecosystems. These analytics solutions help organizations derive actionable insights, enabling smarter decision-making, operational efficiency, and enhanced customer experiences.

A few drivers of the IoT analytics market demand include the rising adoption of IoT devices, advancements in cloud computing, and the increasing need for real-time data insights. Industries such as manufacturing, healthcare, and retail leverage IoT analytics to optimize operations and enhance service offerings, which boosts the market expansion. The demand for predictive analytics, driven by the need to optimize resources and reduce downtime, is further contributing to the Internet of Things analytics market growth.

Internet of Things analytics industry trends indicate a rising shift toward more integrated, AI-driven analytics platforms that can process large datasets generated by IoT devices. This is fueling the demand for advanced machine learning algorithms and automation technologies. Additionally, the rise of edge computing is enabling faster data processing at the source, reducing latency and enabling real-time decision making.

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The Internet of Things analytics market presents numerous opportunities for innovation and growth. Companies are focusing on developing customized, sector-specific analytics solutions that cater to the unique needs of various end-use industries. The demand for scalable, secure, and cost-effective IoT analytics solutions is expected to rise as organizations continue to digitize and connect more devices. This provides growth opportunities for providers to expand their market presence and enhance service offerings, shaping the evolving dynamics of the IoT analytics market.

Internet of Things Analytics Market Report Highlights

• In terms of component, the solutions segment accounted for a larger share of the IoT analytics market revenue in 2024 due to the increasing demand for advanced analytics tools to process vast IoT data.
• Based on end use, the manufacturing segment held the largest market share in 2024 due to the growing need for automation and optimization through IoT-driven insights.
• In 2024, North America dominated the global Internet of Things analytics market share due to its strong technological infrastructure and high adoption of IoT analytics across various industries.
• Asia Pacific is expected to witness the highest CAGR during the forecast period due to rapid industrialization and increasing investments in IoT technologies across sectors.
• A few of the global key market players are Accenture; Aeris; Amazon Web Services, Inc.; Cisco Systems, Inc.; Dell Inc.; Google (Alphabet Inc.); Hewlett Packard Enterprise Development LP; Microsoft; OpenText Web; Oracle; PTC; Salesforce, Inc.; SAP SE; SAS Institute Inc.; and Software AG.

Polaris Market Research has segmented the Internet of Things analytics market report on the basis of component, organization size, deployment, type, application, end use, and region:

By Component Outlook (Revenue, USD Billion, 2020–2034)

• Solutions
• Services

By Organization Size Outlook (Revenue, USD Billion, 2020–2034)

• SMEs
• Large Enterprises

By Deployment Outlook (Revenue, USD Billion, 2020–2034)

• On-Premises
• Cloud

By Type Outlook (Revenue, USD Billion, 2020–2034)

• Descriptive Analytics
• Diagnostic Analytics
• Predictive Analytics
• Prescriptive Analytics

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Energy Management
• Predictive Maintenance
• Asset Management
• Inventory Management
• Remote Monitoring
• Others

By End Use Outlook (Revenue, USD Billion, 2020–2034)

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

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

Internet of Things Analytics Market Report Scope