IoT Analytics Market Size Projected To Reach USD 109.81 Billion
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 productivity of the machines and can also track the issues in a particular part or equipment of the devices.
Retail shops and hospitals are using IoT analytics to predict and understand the customers or patients’ behaviors and plan a strategy accordingly to engage the customers. The IoT analytics are used in industries such as e-commerce, healthcare, retail, manufacturing, and others by analyzing the functionality of the systems or products from the data generated from these systems or devices.
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