Data Historian Market Synopsis
As per the latest evaluation by Market Research Future Reports (MRFR), the global Data Historian Market is anticipated to value USD 1,406.23 billion, thriving at a CAGR of 6.9% during the assessment period from 2019 to 2024. The adoption of IoT equipment is the most notable factor driving the globaldata historian market 2022. There has been a surge in the volume of data, which led to the actuation of the market. The enterprises are adopting the data historian to enhance work efficiency.
One of the most significant factors which are influencing the data historian market is the augmenting production of several products, materials, and equipment from several industries such as energy and power, oil & gas, and food & beverages. Moreover, the usage of various IoT equipment by these industries to share the information is further propelling the market. The data historian software is an essential requirement for the companies to evaluate and to make the production efficiency in the forthcoming period. This requirement has further propelled the market for the data historian market.
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A precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed. We will provide COVID-19 impact analysis with the report.
Data Historian Market Key Players
MRFR recognizes the key players in the global data historian market as ABB Limited (Sweden), AVEVA Group (UK), General Electric Company (US), Honeywell International Inc. (US), IBM Corporation (US), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Aspen Technology (US), Emerson Electric Co. (US), PTC Inc. (US), Rockwell Automation, Inc. (US), ICONICS (US), OSIsoft, LLC (US), Automsoft International Ltd (Ireland), Canary Labs, Inc. (US), and COPA-DATA GmbH (Austria) among others.
Data Historian Market Segmentation
The worldwide data historian market can be segmented on the basis of deployment, component, application, end-user, organization size, time-series database type, and region.
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Based on deployment, the worldwide data historian market can be segmented into cloud-based and on-premise.
Based on components, the worldwide data historian market can be segmented into software and services. The service segment has further been classified into professional services and managed services.
Based on application, the worldwide data historian market can be segmented into production tracking, environmental auditing, asset performance management, predictive maintenance, and others.
Based on end-user, the worldwide data historian market can be segmented into oil and gas, marine, chemicals and pharmaceuticals, paper and pulp, metals and mining, utilities, data centers, and others.
Based on organization size, the worldwide data historian market can be segregated into large enterprises and SMEs.
Based on time-series database type, the worldwide data historian market can be segmented into operational and open source.
Based on the region, the worldwide data historian market can be segmented into North America, Europe, Asia-Pacific, and the rest of the world.
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Data Historian Market Geographical Analysis
The regional study of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been performed. As per the analysis by MRFR, the North American region is projected to dominate the global market. The primary reason of regional expansion is the presence of various notable players in the region. North America was the foremost country to adopt data historian software program. Moreover, the region is technically advanced which is the major factor driving the regional market.
Europe acquires the second-largest market share in the market owing to the presence of several sectors such as metal & mining, automotive, chemical, and others. The major contributor to the market is the UK, France, Germany, Italy, and others.
The Asia-Pacific region is estimated to augment at the fastest pace during the forecast period. The region is developing in terms of digitalization, technology, and urbanization. China and India are estimated to make the most significant contribution to expanding the regional market.
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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 global Data Historian Market size 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.
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.
The growing technology expenditures in major APAC countries, such as Australia, China, and India, and the growing demand for cost-effective data management software and services among the Small and Medium-sized Enterprises (SMEs) will be major market growth drivers during the forecast period.Request Sample Pages of this report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=163342189Major vendors providing Data Historian Market include General Electric, ABB, Emerson Electric, Siemens AG, AVEVA Group, Honeywell, Rockwell Automation, OSIsoft, ICONICS, IBM, Yokogawa, PTC, Inductive Automation, Canary Labs, Open Automation Software, InfluxData, Progea, Kx Systems, Sorbotics, Savigent Software, Automsoft, LiveData Utilities, Industrial Video & Control, Aspen Technology, and COPA-DATA.About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
