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.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.
Competitive Landscape:
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Keyword market:
Honeywell, General Electric, IBM, Yokogawa, Siemens, ABB, AVEVA Group, PTC, Emerson, and Aspen Technology, among others.
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The global market is further segmented into type and application:
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 analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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