PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1731776
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1731776
Global Connected Device Analytics Market to Reach US$280.0 Billion by 2030
The global market for Connected Device Analytics estimated at US$85.7 Billion in the year 2024, is expected to reach US$280.0 Billion by 2030, growing at a CAGR of 21.8% over the analysis period 2024-2030. Solutions Component, one of the segments analyzed in the report, is expected to record a 23.9% CAGR and reach US$211.2 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 16.7% CAGR over the analysis period.
The U.S. Market is Estimated at US$23.3 Billion While China is Forecast to Grow at 29.5% CAGR
The Connected Device Analytics market in the U.S. is estimated at US$23.3 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$67.9 Billion by the year 2030 trailing a CAGR of 29.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 17.2% and 19.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 18.4% CAGR.
Global Connected Device Analytics Market - Key Trends & Drivers Summarized
Why Is Connected Device Analytics Becoming the Cornerstone of IoT Strategy?
Connected device analytics has evolved into a mission-critical capability for enterprises managing large-scale Internet of Things (IoT) ecosystems. As billions of sensors, machines, and smart devices generate real-time data across industrial, consumer, and commercial environments, organizations are under pressure to transform this data into actionable insights. Connected device analytics platforms enable real-time monitoring, anomaly detection, usage pattern recognition, and predictive maintenance-offering a unified interface to assess device health, performance, and behavior over time.
This analytical capability is no longer a luxury-it is a necessity. Industries such as manufacturing, healthcare, utilities, logistics, and agriculture are embedding analytics into the very fabric of their IoT architecture to ensure uptime, optimize resource consumption, and drive informed decision-making. For example, industrial OEMs leverage analytics to monitor vibration patterns in machinery, enabling early fault detection and reducing unscheduled downtime. In smart homes, connected appliance manufacturers use analytics to identify usage habits and refine firmware updates. The scope and importance of analytics are growing with every new connected endpoint that enters the network.
What Technological Innovations Are Enhancing Analytical Intelligence Across Devices?
Technological innovation is rapidly enhancing the capabilities of connected device analytics platforms. Edge analytics-where data is processed locally on the device or gateway before being transmitted-has become a game-changer, reducing latency and bandwidth usage while enabling real-time decision-making. Coupled with AI and machine learning, edge analytics enables devices to detect anomalies, trigger alerts, and even initiate self-healing protocols without waiting for centralized processing.
Another breakthrough involves the integration of streaming analytics and digital twins. With streaming analytics, vast volumes of telemetry data can be analyzed on-the-fly, providing operators with live visibility into key parameters such as energy consumption, temperature fluctuations, or actuator status. Digital twins-virtual replicas of physical assets-are increasingly being layered on top of device analytics frameworks to simulate operational scenarios, predict failures, and test control interventions without disrupting physical operations.
The emergence of low-code/no-code analytics platforms is also transforming the accessibility of these tools. Engineers, domain specialists, and non-technical business users can now build custom dashboards, define thresholds, and configure alerts using intuitive drag-and-drop interfaces. Additionally, unified data models and open API architectures enable integration across diverse device types and communication protocols, from MQTT and CoAP to OPC-UA and 5G. This interoperability ensures that analytics can be applied across vertically integrated or horizontally distributed IoT networks.
Who Is Driving Adoption and How Are Applications Expanding Across Sectors?
Industries with high capital intensity and operational complexity are at the forefront of connected device analytics adoption. Manufacturing is a major adopter, using these platforms to monitor machine performance, reduce scrap rates, and optimize production schedules. The rise of Industry 4.0 and predictive maintenance has made device-level intelligence indispensable for plant managers and maintenance teams. Utilities and energy providers are also leveraging analytics to monitor smart meters, grid stability, and energy usage patterns across millions of endpoints in real-time.
In healthcare, connected medical devices such as infusion pumps, portable ECG monitors, and imaging systems use analytics for performance diagnostics, usage optimization, and compliance tracking. Remote patient monitoring platforms depend on device analytics to flag abnormal health indicators and ensure continuous care delivery. Similarly, in transportation and logistics, fleet telematics systems use device analytics to improve route planning, monitor fuel efficiency, and ensure driver safety through real-time behavior analytics.
Smart cities represent another expanding frontier, where municipalities use analytics to monitor street lighting, traffic flow, water distribution, and waste management in real time. Consumer electronics, including wearable fitness trackers and smart appliances, are integrating analytics to personalize user experiences and drive product engagement. As enterprises embrace digital transformation, connected device analytics is shifting from an IT initiative to a strategic imperative across business verticals.
What Is Driving the Exponential Growth of the Connected Device Analytics Market?
The growth in the connected device analytics market is driven by several pivotal trends: the explosive proliferation of IoT endpoints, the imperative to derive business value from operational data, and the emergence of scalable analytics platforms powered by AI. As device ecosystems grow in size and complexity, manual monitoring becomes untenable, and analytics provides the automation and intelligence necessary to ensure efficiency, safety, and resilience.
The transition toward edge computing and real-time processing has further reinforced demand, especially in applications where data latency could lead to safety risks, financial losses, or operational disruption. Coupled with growing investments in 5G infrastructure and cloud-native analytics platforms, enterprises now have the technological backbone required to deploy analytics at scale across globally distributed networks.
Additionally, heightened competition, regulatory pressures, and sustainability goals are compelling businesses to enhance visibility into their assets and operations. Connected device analytics helps optimize energy consumption, reduce downtime, minimize waste, and ensure regulatory compliance-goals that directly contribute to bottom-line improvements. As digital maturity increases across sectors and regions, connected device analytics is poised to become the default layer of operational intelligence that underpins every IoT investment.
SCOPE OF STUDY:
The report analyzes the Connected Device Analytics market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Component (Solutions, Services); Deployment (On-Premise, Cloud); Application (Sales & Customer Management, Security & Emergency Management, Remote Monitoring, Predictive Maintenance & Asset Management, Inventory Management, Energy Management, Building Automation, Other Applications); Vertical (Manufacturing, Transport & Logistics, Energy & Utilities, Retail & E-Commerce, BFSI, Health & Life Sciences, Government & Defense, Other Verticals)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 44 Featured) -
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.
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APRIL 2025: NEGOTIATION PHASE
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JULY 2025 FINAL TARIFF RESET
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Reciprocal and Bilateral Trade & Tariff Impact Analyses:
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Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.
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