Dublin, Jan. 23, 2019 (GLOBE NEWSWIRE) -- The "Data Historian Market by Application (Production Tracking, Environmental Auditing, Asset Performance Management, and GRC Management), Component (Software, Service), Deployment Mode, Organization Size, End-user, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Rapidly growing volumes of industrial big data and an increasing demand for consolidated data for process and performance improvement are the major driving factors for the global data historian market. Market Dynamics
Drivers
- Increasing Demand for Consolidated Data for Process and Performance Improvement
- Rising Industrial Big Data
Restraints
- High Deployment Costs
Opportunities
- Growing Need for Industrial 360 Hypervision
Challenges
- Growing Impact of IIoT
Industry Trends
Data Historian: Use Cases
- Use Case #1: Enhanced Visibility of Data Resulted in Greater Productivity
- Use Case #2: Moving Data From Programmable Logic Controller (PLC) to Open Databases for Historical Logging and Analysis
- Use Case #3: Data Mining and Data Aggregation Needs
The global data historian market size 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 the increasing business need to consolidate the data for performance and quality improvement; and rapidly growing volumes of industrial big data which are difficult to manage as it is collected from multiple systems, devices, and applications. It is necessary for engineering industries to replace their outdated software solutions with advanced data historian solutions. However, deployment costs and unavailability of cost-effective pricing models may limit the market growth, and growing impact of IIoT deployment could be challenge to the market growth. The asset performance management application to account for the largest market size in the data historian market in 2018 The asset performance management application is expected to dominate the overall data historian market in terms of share, as it is predominantly finding use in all end user segments to reduce risks and improve the efficiency in the production across verticals. 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. APAC to record the highest growth rate during the forecast period The data historian market in Asia Pacific (APAC) is gaining momentum and is expected to record the highest growth rate during the forecast period. Vendors in APAC adopt venture funding strategies and are investing in R&D activities in an effort to provide technologically advanced data historian solutions. Also, with cost-effective benefits, companies are planning to set-up production facilities in the region. In addition, major economies in APAC, such as China, India, Australia, and New Zealand, are investing in all technologies to innovate the traditional business processes and enhance the performance. The region has witnessed an increasing adoption rate of such solutions across banking and all other major industry verticals.
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 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
- General Electric Company
- ABB
- Emerson Electric
- Siemens AG
- AVEVA Group plc
- Honeywell International Inc.
- Rockwell Automation, Inc.
- OSIsoft
- ICONICS, Inc.
- IBM Corporation
- Yokogawa Electric Corporation
- PTC, Inc.
- Inductive Automation
- Canary Labs
- Open Automation Software
- InfluxData, Inc.
- Progea
- Kx Systems
- Sorbotics, LLC
- Savigent Software, Inc.
- Automsoft
- LiveData Utilities
- Industrial Video & Control Co.
- Aspen Technology, Inc.
- COPA-DATA GmbH
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