Market Size – USD 1,072.9 Million in 2020, Market Growth - CAGR of 6.4%, Market Trends – Collaboration of major players with local players to enhance their product offerings as well as expand their geographical presence.
The Global Data Historian market is forecast to reach USD 1,571.8 Million by 2028, according to a new report by Reports and Data. A data historian also known as operational historian or process historian is a software program that records and recovers production and process data by time; it stores data in a real time series database that effectively store data with minimal disk space and quick recovery. The market for data historian is influenced by rapid business expansions.
The above-mentioned factors collectively create opportunities for the market growth while factors such as high deployment costs pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the information and communication technology market owing to innovative efforts have enhanced the efficiency of data historian software.
The Asia Pacific region is anticipated to show high growth during the forecast period. This is due to the growing adoption of data historian software and services among small and medium-sized enterprises with growing digitization, and expanding adoption of IoT-based technologies. Most of the developing countries are looking at India, and China as the global market. These countries consist of over 40% population across the globe and application of data historian in this region will grow with a very high rate.
Key participants include Honeywell, General Electric, IBM, Yokogawa, Siemens, ABB, AVEVA Group, PTC, Emerson, and Aspen Technology, among others.
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Market Overview:
The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Data Historian Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Data Historian Market.
Further key findings from the report suggest
- The data historian software segment held a larger market share of 61.3% in the year 2020. This is because the companies need data historian to deal with the increasing data volumes to enhance productivity and maintain business continuity.
- The large enterprise's segment held a larger market share of 64.3% in the year 2020 as large enterprises are focusing on efficient data management to drive business growth.
- Asset performance management segment held the largest market share of 26.4% in the year 2020. Major sectors, especially the power and utilities, and upstream oil and gas, are investing heavily in solutions to decrease the unplanned interruption in production, mitigate maintenance costs, optimize assets utilization, and cut the risk of failures of both critical and non-critical assets. These factors are projected to drive the growth of asset performance management segment.
- Asia Pacific is forecasted to grow with the highest CAGR of 6.9% during the forecast period. Countries like China, Japan, and India are rapidly catching up with the growth in data historian market.
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For the purpose of this report, Reports and Data have segmented into the global Data Historian market on the basis of component, organization size, deployment type, application, end-use industry and region:
Component Outlook (Revenue, USD Billion; 2020-2028)
- Software
- Services
Organization Size Outlook (Revenue, USD Billion; 2020-2028)
- Small and Medium-Sized Enterprises
- Large Enterprises
Deployment Type Outlook (Revenue, USD Billion; 2020-2028)
- On-Premise
- Cloud
Applications Outlook (Revenue, USD Billion; 2020-2028)
- Production Tracking
- Environmental Auditing
- Asset Performance Management
- Governance, Risk, and Compliance Management
- Predictive Maintenance
- Others
End-Use Industry Outlook (Revenue, USD Billion; 2020-2028)
- Oil and Gas
- Marine
- Chemicals and Pharmaceuticals
- Paper and Pulp
- Data Centers
- Others
Regional Outlook (Revenue, USD Billion; 2020-2028)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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Key Advantages of Data Historian Market Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Data Historian industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Data Historian Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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