Global Data Historian Market to 2023 - Increasing Demand for Consolidated Data for Process and Performance Improvement
DUBLIN, Aug. 15, 2018 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The global data historian market is 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.
Major growth factors for the market include rapidly rising volumes of industrial big data and an increasing demand for consolidated data for process and performance improvement.
The report provides detailed insights into the global data historian market. It segments the market by application, component, deployment mode, organization size, end-user, and region. Among applications asset performance management application is expected to continue to dominate the market during the forecast period.
Major sectors, particularly the upstream oil and gas, and power and utilities, are investing in solutions to reduce the unplanned interruption in production, optimize asset utilization, mitigate maintenance costs, and cut the risk of failures of both critical and non-critical assets. These factors are driving the growth of asset performance management segment. The production tracking application is expected to grow at the highest CAGR with the growing importance of historian data process among oil, gas, and utilities with the need for better management of data and ultimately, legacy systems.
In the component segment, the data historian software/tools segment is expected to have a higher market share during the forecast period. The demand for data historian software/tools is growing, as organizations need data historian to manage increasing data volumes to enhance productivity and maintain business continuity.
Among deployment models, the cloud deployment model is expected to record a higher CAGR during the forecast period, owing to its cost effectiveness, scalability, and ease of deployment. The large enterprises segment is expected to dominate the market in terms of market share, as large enterprises are focusing on efficient data management to drive business growth. However, the Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period, owing to the easy availability and scalability of cloud-based deployments.
The oil and gas end-user segment is expected to have the largest market size during the forecast period. This end-user segment is witnessing new growth opportunities coupled with rapid digital initiatives. Moreover, oil and gas companies rely on the past data to analyze any machine's condition to avoid future breakdowns by using the predictive maintenance capabilities of the deployed data historian solution. The solution also helps in cutting significant costs while providing improved agility and scalability, overcoming the operational challenges. The data center segment is expected to grow at the highest CAGR during the forecast period growing with a CAGR of 9.0%.
North America is expected to have a significant share in the global data historian market, owing to the direct presence of most of data historian vendors. APAC is expected dominate the market and would grow at the highest CAGR during the forecast period, owing to the growing adoption of data historian software and services among SMEs with growing digitalization, and increasing adoption of IoT-based technologies.
However, high deployment costs would restrain the market growth. Growing need for industrial 360 hypervision would create lucrative market opportunities.
The global data historian market is fragmented in nature, as no single vendor dominates the market. Major vendors of data historian software/tools and services have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, expansions, and acquisitions, to expand their offerings in the global data historian market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Market Share, By Region
4.3 Investment Opportunities in the Data Historian Market
4.4 Market Share, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Consolidated Data for Process and Performance Improvement
5.2.1.2 Rising Industrial Big Data
5.2.2 Restraints
5.2.2.1 High Deployment Costs
5.2.3 Opportunities
5.2.3.1 Growing Need for Industrial 360 Hypervision
5.2.4 Challenges
5.2.4.1 Growing Impact of IIoT
5.3 Industry Trends
5.4 Data Historian: Use Cases
5.4.1 Use Case #1: Enhanced Visibility of Data Resulted in Greater Productivity
5.4.2 Use Case #2: Moving Data From Programmable Logic Controller (PLC) to Open Databases for Historical Logging and Analysis
5.4.3 Use Case #3: Data Mining and Data Aggregation Needs
5.5 Data Historian: Evolution
5.6 Regulations
5.6.1 EU General Data Protection Regulation (GDPR)
5.6.2 Cloud Standard Customer Council (CSCC)
6 Data Historian Market, By Application
6.1 Introduction
6.2 Production Tracking
6.3 Environmental Auditing
6.4 Asset Performance Management
6.5 Governance, Risk, and Compliance Management
6.6 Predictive Maintenance
6.7 Others
7 Market By Component
7.1 Introduction
7.2 Software/Tools
7.3 Services
7.3.1 Managed Services
7.3.2 Professional Services
7.3.2.1 Consulting Services
7.3.2.2 Support and Maintenance Services
8 Market By Deployment Mode
8.1 Introduction
8.2 On-Premises
8.3 Cloud
9 Market By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises
10 Data Historian Market Analysis, By End-User
10.1 Introduction
10.2 Oil and Gas
10.3 Marine
10.4 Chemicals and Pharmaceuticals
10.5 Paper and Pulp
10.6 Metals and Mining
10.7 Utilities
10.8 Data Centers
10.9 Others
11 Data Historian Market, By Region
12 Competitive Landscape
12.1 Overview
12.2 Prominent Players in the Data Historian Market
12.3 Competitive Scenario
12.3.1 New Product Launches and Product Upgradations
12.3.2 Partnerships, Collaborations, and Agreements
12.3.3 Expansions
12.3.4 Acquisitions
13 Company Profiles
13.1 ABB
13.2 AVEVA Group
13.3 General Electric
13.4 Honeywell
13.5 IBM
13.6 Siemens
13.7 Yokogawa
13.8 Aspen Technology
13.9 Emerson
13.10 PTC
13.11 Rockwell Automation
13.12 ICONICS
13.13 OSIsoft
13.14 Automsoft
13.15 Canary Labs
13.16 COPA-DATA
13.17 Inductive Automation
13.18 Industrial Video & Control
13.19 InfluxData
13.20 Kx Systems
13.21 LiveData Utilities
13.22 Open Automation Software
13.23 Progea
13.24 Savigent Software
13.25 Sorbotics
For more information about this report visit https://www.researchandmarkets.com/research/52jl2p/global_data?w=5
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