Data Historian Market - Global Growth, Trends, COVID-19 Impact, and Forecasts to 2026: Increasing Demand for Consolidated Data for Process and Performance Improvement - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 9, 2021--
The “Data Historian Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)” report has been added to ResearchAndMarkets.com’s offering.
The data historian market is expected to reach a CAGR of 6.8% during the forecast period (2021 - 2026).
The market’s 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.
Rising volumes of big industrial data coupled with increasing demand for consolidated data for process and performance improvement are major factors expected to drive the growth of the global data historian market. For instance, data generated by enterprises, according to estimations put by industry experts, mainly include unstructured data (80%), and only 20% of the data is structured. Data comes in various formats, from structured, numeric data in traditional databases to unstructured text documents, videos, audio, emails, stock ticker data, and financial transactions.
Moreover, with the advent of Industry 4.0, smart factories, and smart plants, organizations worldwide are demonstrating a shift to the usage of massive amounts of data at several layers of their process. This leads to the growing demand for data historian solutions from organizations to achieve effective management, stable and efficient plant operations and robust analysis.
Additionally, organizations are using data historians to collect data from heterogeneous sources into a common platform for analysis. For instance, Palm Group, one of the leading companies in the European paper industry, has selected BTG’s dataPARCT data historian, analytics, and visualization software to improve decision-making and troubleshooting capabilities with real-time data analysis and visualization tools for their five paper mill sites across Europe.
Due to the outbreak of COVID-19, the demand for the market is likely to come down due to the shutdown of industries across the globe. However, with the resurgence, the demand for data historian solutions is expected to grow over the forecast period with the growing demand for effective operations across industries.
Key Market Trends
Cloud Deployment To Drive the Market Growth
- The cloud deployment is the experiencing highest growth rate during the forecasted period. The primary reason being greater adoption among the Small and Medium Enterprises (SMEs). Majorly the assets are physically spread out for instance, in a building or across multiple locations. Cloud deployment option facilitates easy operability among varied locations without concerning installing software and maintaining the supportive hardware to support it.
- A cloud-based data historian can provide the capability to store large amount of data and easily integrate with tools to analyze that data and turn it into actionable information. It can enable access to big data from any desktop, web browser, or mobile device, tying into a trusted cloud infrastructure. Moreover, the cloud-based data historian can use connection technology that leverages a public, private, or hybrid cloud infrastructure to increase collaboration and efficiency without comprising security.
- Cloud-based data historians provide advanced analysis. For instance, Honeywell’s Uniformance Cloud Historian uses cloud technology to analyze data across multiple sites to improve asset availability and increase plant uptime and enable users with a new edge, cloud, and data lake technologies for the process, asset, and business data. Moreover, it helps the user to improve both plant and enterprise performance.
The data historian market is fragmented due to many players in the market. Players in the market are adopting strategies like partnerships, mergers and acquisitions, new product launches, and investing in the R&D for further innovations to capture the highest market share.
Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Consolidated Data for Process and Performance Improvement
4.2.2 Rising Industrial Big Data
4.3 Market Restraints
4.3.1 High Deployment Costs
4.4 Industry Attractiveness - Porter’s Five Forces Analysis
4.5 Assessment on the Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Component
5.2 By Deployment Mode
5.3 By End-user Industry
5.3.1 Data Centers
5.3.2 Oil & Gas
5.3.3 Paper & Pulp
5.3.4 Water Management
5.3.6 Other End-user Industry
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 General Electric Company
6.1.2 Siemens AG
6.1.4 Honeywell International Inc.
6.1.5 Emerson Electric Co.
6.1.6 AVEVA Group plc
6.1.7 Rockwell Automation Inc.
6.1.8 OSIsoft LLC
6.1.10 Open Automation Software
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3umykp
View source version on businesswire.com:https://www.businesswire.com/news/home/20210309005483/en/
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INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT
SOURCE: Research and Markets
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PUB: 03/09/2021 05:25 AM/DISC: 03/09/2021 05:25 AM