While the emergence as well as the growing utilization of connected devices based on internet of things or IoT technologies has advanced various industrial and consumer sectors substantially, there is a massive amount of data generated through these devices. The increasing need to utilize and analyze these huge datasets is positively affecting the demand within the global IoT analytics market. The analysis of data acquired through IoT connected devices is most essential in enterprise operations for management and optimization of various business processes as well as operations. These solutions offered by the players and developers in the global IoT analytics market enable end users to enhance their profitability through making the business processes more efficient and by analyzing and correcting the possible threats.
The increasing usage of various medical IoT or connected medical devices in healthcare sector is translating into better patient care and accurate as well as real time patient health monitoring. The large amount of medical data generated through the usage of these medical IoT devices has substantial value for the healthcare professionals and stakeholders in enhancing the efficiency in operations and optimizing the treatment courses and methods. Furthermore, these usage of solutions in the global IoT analytics market offer a unique way for medical practitioners to provide largely patient-centric care.
The incumbent vendors and players working within the global IoT analytics market include IBM Corporation, Aeris Communication, Cumulocity GmbH, Accenture PLC, Oracle Corporation, Microsoft Corporation, Intel Corporation, Tableau Software, Amazon Web Services, Inc., and Cisco Systems, among others. The leading players in the global IoT analytics market are enhancing their products to offer specific and unique functionalities as well as developing and launching new and innovative solutions. For example, Amazon Web Services launched new updates for Alexa voice services in November of 2019 by adding new IoT analytics capabilities. Elsewhere, in the same month, a new AI powered monitoring solution called Maximo Asset Monitor was launched by the IBM Corporation. This solution will prove to be helpful in better understanding the performance of essential physical assets.
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