Data Historian Market is expected to exceed the market valuation of more than US$1.5 million by 2027
Global Data Historian Market is expected to exceed the market valuation of more than US$1.5 million by 2027, demonstrating significant CAGR of around 5.4% during the forecast period (2021-2027).
Global Data Historian Market is expected to exceed the market valuation of more than US$1.5 million by 2027, demonstrating significant CAGR of around 5.4% during the forecast period (2021-2027). A comprehensive overview of the Global Data Historian Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Data Historian market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global data historian market at regional and country levels.
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Market Overview
A data historian is a software program that records the data of processes running in a computer system. Organizations use data historians to gather information about the operation of programs to diagnose failures when reliability and uptime are critical. The data historian growth is attributed to the wide applications in data centers, chemical plants, nuclear power plants, automobiles, pharmaceutical manufacturing, water management, environmental control, and agriculture for recording data on network bandwidth, fluid levels, pressure level, fan temperature, limit switches, and valve positions in one or more locations. Moreover, users can evaluate its operation, efficiency, profitability, and setbacks of production with data historians. The need for machine performance monitoring, heavy equipment monitoring, and checking production status in the manufacturing industry is increasing demand for data historian solutions.
COVID-19 Impact
From March-June 2020, the COVID-19 outbreak has affected markets and customers' behavior and had a adverse impact on economies and societies. With offices, educational institutions, and manufacturing facilities shutting down for an indefinite period, major sports and events being postponed, and work-from-home and social distancing policies in effect, technologies adoption demand has increased for businesses to assist them through these difficult times. Therefore, analytics professionals, business intelligence professionals, and professionals providing expertise in more advanced analytics, such as AI and ML, have been called for their expertise to help executives make business decisions on how to respond to the new business challenges caused by the COVID-19 outbreak.
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Global Data Historian Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Component, the market is primarily bifurcated into:
· Software/Tools
· Services
o Managed Services
o Professional Services
§ Consulting
§ Support and Maintenance
Based on components, currently, software segment generated revenue of USD -- billion in 2020. The segment is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of USD -- billion by 2027 because data historian software has led to process improvement and therefore the demand for such software has surged in the market.
By Application, the market is mainly segmented into:
· Production Tracking
· Environmental Auditing
· Asset Performance Management
· GRC Management
· Predictive Maintenance
Others (security and quality control management)
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Currently, assets performance management segment grabbed --% market share of the global Data Historian market and gathered revenue of USD -- billion in 2020. The segment is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of USD -- billion by 2027 as data historian ensures high speed data processing, remote data collection, and intelligent asset management to different industry.
By Deployment Mode, the market is mainly classified into:
· On-Premise
· Cloud
In 2020, the cloud segment dominated the Data Historian market and accounted for --% market share. This segment will witness a considerable CAGR of --% during the forecast period (2021-2027F) owing surging adoption of cloud deployment in small and medium scale enterprises.
By Organization-Size the market is mainly bifurcated into:
· SMEs
· Large Enterprises
Currently, SMEs segment generated revenue of USD -- billion in 2020. The segment is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of USD -- billion by 2027. However, large scale enterprises segment is expected to gain considerable market presence in forecast period.
By End-Use the market is mainly segmented into:
· Oil and Gas
· Marine
· Chemicals and Petrochemicals
· Paper and Pulp
· Metal and Mining
· Power and Utilities
· Others (IT and data centers, transportation, and pharmaceuticals)
In 2020, the oil and gas segment dominated the Data Historian market and accounted for --% market share. The requirement for machine execution monitoring, hefty equipment monitoring, and checking creation status in the oil and gas industry is expanding the interest for data history specialist arrangements.
Global Data Historian Market Geographical Segmentation Includes:
· North America (United States, Canada, Rest of North America)
· Europe (Germany, UK, France, Spain, Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
· Rest of World
Based on the estimation, Asia Pacific dominated the market in 2020. Asia Pacific constitutes the largest market for the industry and generated revenue of USD -- billion in 2020 predominantly because of rapid digitalization in APAC region has resulted in the production of bulks of unstructured data.
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The major players targeting the market includes:
· GE
· ABB
· Emerson
· Siemens
· AVEVA
· Honeywell
· Rockwell Automation
· OSIsoft
· ICONICS
· IBM
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts’ sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global data historian market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global data historian market?
· Which factors are influencing the global data historian market over the forecast period?
· What are the global challenges, threats, and risks in the global data historian market?
· Which factors are propelling and restraining the global data historian market?
· What are the demanding global regions of the global data historian market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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