Data Historian Software Market Report
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Data Historian Software Market Report. The growth sectors of the Data Historian Software Market Report are identified with precision for a better growth perspective.
The global data historian market is likely to gain popularity. The market is projected to witness an upswing in terms of valuation. An assessment presented by Market Research Future (MRFR) reveals that the global data historian market is supposed to strike 6.9% CAGR across the review period 2019 to 2024. It is also highlighted that the valuation of the data historian market is supposed to reach USD 1,406.23 Mn by 2024.
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Data historian is a software program designed to record daily information about a unit. It is gaining popularity as it eliminated human intervention. Thus, the human resources can be channelized towards more important tasks. This, in turn, is assumed to guide the growth of the data historian market in the foreseeable future. In addition, it reduces and avoids the probability of human error drastically. It is supposed to catapult the data historian market on its growth trajectory. Increasing applications across units such as manufacturing, production, etc. is poised to boost market growth.
The product has found applications across industries such as food & beverages, metal, oil & gas, energy & power, automotive, and among others. Rising applications is anticipated to have a favorable influence on the growth curve of the data historian market. Many of the end-user industries are into the production of different types of products. This has necessitated the deployment of the software to maintain proper records. This factor is expected to augment the data historian market in the forthcoming years. Rising investments in digitization, coupled with the governments’ initiatives, is prognosticated to lead the proliferation of the data historian market.
Market Segmentation
On the basis of component, the data historian market is divided into software and services. The sub-segments of the service segment are managed services and professional services.
On the basis of deployment, the segments of the data historian market are cloud-based and on premise.
On the basis of application, data historian market has been segmented into predictive maintenance, production tracking, asset performance management, environmental auditing, and others.
On the basis of time series database type, the data historian market has been segmented into operational and open source.
Regional Analysis
The geographical analysis of the global data historian market has been covered in this report for the regions, such as Europe, Asia-Pacific, North America, and the Rest of the World (RoW). These segments based on region are further assessed on the level of countries for deeper market insight. North America is presumed to hold its pole position over the forecast period. Increasing shift towards digitization in the region is supposed to augment the regional market. In addition, the availability of advanced technologies in the region is also supposed to expedite the growth rate of the data historian market in the years to come. Key players such as Honeywell International Inc., General Electric Company, IBM Corporation, etc. are expected to accelerate revenue generation in the region. It is prognosticated to drive the proliferation of the data historian market in the forthcoming years.
Competitive Dashboard
ABB Limited (Sweden), General Electric Company (US), AVEVA Group (UK), Honeywell International Inc. (US), Siemens AG (Germany), IBM Corporation (US), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), Aspen Technology (US), PTC Inc. (US), ICONICS (US), Rockwell Automation, Inc. (US), OSIsoft, LLC (US), Canary Labs, Inc. (US), Automsoft International Ltd (Ireland), and COPA-DATA GmbH (Austria) are the key participants of the global data historian market.
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Data Historian Software MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Data Historian Software Market.
The growth sectors of the Data Historian Software Market are identified with precision for a better growth perspective.The global data historian market is likely to gain popularity.
It is also highlighted that the valuation of the data historian market is supposed to reach USD 1,406.23 Mn by 2024.Data historian is a software program designed to record daily information about a unit.
It is gaining popularity as it eliminated human intervention.
This, in turn, is assumed to guide the growth of the data historian market in the foreseeable future.
In addition, it reduces and avoids the probability of human error drastically.
Global Data Historian Market Research Report: By Component (Software, Services), by Deployment (Cloud-based, On-Premise), by Organization Size (Large Enterprise, SMEs), by Time Series Database Type (Operational, Open source) ,by Application (Production Tracking, Environmental Auditing, Asset Performance Management, Predictive Maintenance, and Others) , by End-User (Oil and Gas, Marine, Chemicals and Pharmaceuticals, Paper and Pulp, Metals and Mining, Utilities, Data Centers, Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) — Forecast till 2024Data Historian Market HighlightsThe global data historian market is expected to register a CAGR of 6.9% during the forecast period of 2019–2024.
There are various factors contributing to the growth of the global data historian market such as increasing volume of data and the adoption of IoT devices for transmitting information which has led to an increase in the adoption of data historian among the enterprises for reducing the downtime and increasing the working efficiency.Regional AnalysisThe global data historian market is estimated to grow at a significant rate in the future.
The geographical analysis of the data historian market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.North America dominates the global data historian market, by region, due to the early adoption of the data historian software program by various industries to predict their functionality with the help of the previous years’ data.
The US accounts for the largest market share due to presence of various key players including Aspen Technology (US), Emerson Electric Co. (US), PTC Inc. (US), Rockwell Automation, Inc., and others.Europe accounts the second-largest market share in the data historian market due to presence of various industries such as automotive, metal & mining, chemical, and others which is driving the market.
Additionally, there are various companies which offer data historian software/tools, and services in the region such as ABB Limited (Sweden), AVEVA Group (UK), Siemens AG (Germany) and others, that accelerates the growth of the market.Get Sample @ https://www.marketresearchfuture.com/sample_request/8301Asia-Pacific is expected to be the fastest-growing region during the forecast period due to increasing advancement in terms of technology, urbanization, and digitalization.
Additionally, the SMEs and large enterprise are also using this software to predict the future functionality by analyzing the historical data and functionality of the organization.
Detailed study on Data Historian Market by MarketsandMarkets™ provides broad analysis on the basis of Types, Applications and key players which is useful for better decision making.According to a new market research report "Data Historian Market by Application (Production Tracking, Environmental Auditing, Asset Performance Management, and GRC Management), Component (Software/Tools, Service), Deployment Mode, Organization Size, End-user, and Region - Global Forecast to 2023" published by MarketsandMarkets™, the Data Historian Market expected to grow from USD 914.9 million in 2018 to USD 1,271.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period.
The key forces driving the Data Historian Market include increasing industrial data volumes and demand for consolidated data for process and performance improvement.
Browse in-depth TOC on "Data Historian Market” 77- Tables 47- Figures 164- PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=163342189The oil and gas end-user segment to hold the largest market size during the forecast periodAmong end-users, the oil and gas end-user segment is expected to continue to hold the highest market share during the forecast period.
Additionally, it helps in cutting excessive costs while providing improved agility and scalability, overcoming the operational challenges.The cloud deployment model to grow at a higher CAGR during the forecast periodThe cloud deployment model is witnessing an increasing demand, due to its cost-effectiveness and easy availability.
Cloud-based solutions require less physical setup, incur low maintenance costs, and provide 24/7 accessibility from anytime, anywhere.
Companies in mature markets have already adopted the technology and investing in R for innovations in the data historian software and services.
