Data Historian Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The market for data historians is predicted to expand from $1.15 billion in 2023 to $1.64 billion by 2028, with a compound annual growth rate of 7.32% during the forecasted period of 2023-2028. The growing volume of data produced by diverse origins like IoT devices, cloud applications, and social media is propelling the need for data historians.

Reportlinker.com has announced the publication of a report called "Data Historian Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" which can be found at this link: https://www.reportlinker.com/p06484290/?utm_source=GNW According to the report, the Data Historian Market is projected to increase from $1.15 billion in 2023 to $1.64 billion by 2028, with a compound annual growth rate (CAGR) of 7.32% during the forecast period from 2023 to 2028.

The growing volume of information produced by different origins like IoT gadgets, cloud-based programs, and online platforms is spurring the need for data archivists.

Main Points - Many industries have regulations that require storing historical data - Data historians meet these requirements and allow organizations to gain insights from the data - The financial services industry has a particularly high demand for data historians - Data centers provide the necessary infrastructure for storing and analyzing large amounts of data - Investments in data centers are increasing to support the growth of data historians - Data historians are commonly used in data centers and industrial control systems (ICS) - India is expected to invest $4.6 billion in data centers by 2025 - Industry 4.0 and smart factories are increasing the demand for data historian solutions - Factors limiting market growth include increasing complexity and costs - COVID-19 had both positive and negative impacts on the data historian market - Increased data generation led to a higher demand for data historian solutions - However, the pandemic also slowed down spending on new technologies - Remote work has created challenges for data historians in collecting and managing data accurately.

Emerging Patterns in the Data Historian Market

Increasing Customer Adoption of Cloud Deployment Expected to Propel Market Growth

The increase in the use of cloud technology has played a major role in the expansion of data historians. The development of cloud infrastructure has provided a scalable and flexible solution for handling large amounts of data, making it perfect for data historians. Additionally, the growth of cloud technology has made it easier to integrate data historians with other cloud-based tools and services such as data analysis and visualization. This has created a demand for data historians. The adoption of cloud services for storing and managing consumer data can be attributed to the increase in cloud technology. Services like payment gateways, online fund transfers, digital wallets, and unified customer experiences are playing a significant role in the banking, financial services, and insurance (BFSI) industry's move towards cloud deployment. In June 2022, Eros Investments, a portfolio of media, entertainment, and technology ventures that includes Eros Media World, Eros Now, and Xfinite's Mzaalo, signed an agreement with Wipro Ltd to enhance and expand their artificial intelligence (AI) and machine learning (ML) based content localization solution. The joint content localization service offered by Eros Investments and Wipro will be available to media and entertainment companies through two deployment models: platform-as-a-service and private cloud deployment. Initiatives like this, where companies from various sectors partner to offer cloud deployment solutions, are expected to further support the growth of the market. Furthermore, cloud deployments allow data historians to easily scale up their infrastructure according to the changing needs of their customers, eliminating the need for expensive hardware and reducing overall costs. This makes it more accessible for small and medium-sized businesses to utilize data historians. Since the pandemic, the demand for cloud computing has increased significantly among businesses. Cloud services improve infrastructure efficiency, lower operating costs, and optimize business operations in response to changing conditions. This has led to the emergence of various cloud deployment models.

The market share in North America is predicted to be the greatest.

North America is predicted to have the largest share of the market due to increased spending on research and development for innovation in the data historian market in the area. Additionally, companies like Honeywell International Inc., General Electric Company, Rockwell Automation, Inc., and others are continuously investing in the market. The need for data historians is steadily growing in the region due to the consistently increasing demand for industrial automation data to improve performance, the growing use of Big Data analytics in various economic sectors, and the expanding infrastructure of the Internet of Things (IoT), which produces a vast amount of data that can be collected and analyzed. This is all fueled by current trends in the technology market. The region also plays a significant role in the global demand for data centers, particularly in the IT, BFSI, retail, and healthcare industries. Real estate experts, such as CBRE, have reported that nearly 90% of data center space worldwide is occupied by the United States. This further drives the demand for data historian markets. For example, over the past five years, Google has invested over $37 billion in its offices and data centers in 26 states. Additionally, they have invested over $40 billion in research and development in the United States in 2020 and 2021. Furthermore, in April 2022, Google announced plans to invest approximately $9.5 billion in its offices and data centers in the United States in 2022. Furthermore, organizations in North America are increasingly recognizing the importance of data analysis in decision-making and are seeking solutions to manage and store large volumes of data. This is driving the demand for data historians.

Overview of the Data Historian Industry The data historian industry is a rapidly growing sector that is responsible for collecting, analyzing, and storing data from various sources. This industry plays a vital role in helping organizations make informed decisions based on historical data trends. Data historians have become essential for many businesses across different sectors, including manufacturing, energy, healthcare, and more. The data historian industry is driven by advancements in technology, such as cloud computing and Internet of Things (IoT) devices. These innovations have made it easier to gather and process large amounts of data efficiently. As a result, data historians can capture real-time data from sensors, machines, and other devices, providing valuable insights into operational efficiency, equipment performance, and overall productivity. Moreover, the data historian industry has made significant strides in data analytics. Advanced algorithms and machine learning capabilities have enabled historians to perform complex analysis and predictive modeling. By identifying patterns, anomalies, and potential issues, data historians can aid in preventing costly failures or disruptions in the production process. One significant advantage of the data historian industry is its ability to integrate with existing systems and software. This seamless integration allows organizations to make use of their historical and real-time data simultaneously, leading to more accurate decision-making and improved operational performance. In conclusion, the data historian industry continues to evolve and play a crucial role in modern business practices. Its ability to collect, analyze, and interpret vast amounts of data provides organizations with invaluable insights that drive efficiency, productivity, and overall success. With advancements in technology and ongoing developments in data analytics, the data historian industry is set to thrive and contribute even more to the future of business operations.

The market for data historians is fragmented due to the numerous participants involved. These participants are employing various strategies like forming partnerships, engaging in mergers and acquisitions, launching new products, and investing in research and development to drive innovation and secure a larger portion of the market. Some notable developments in the market include the collaboration between Uptake Technologies Inc. and the ADX team in October 2022. They joined forces to develop an industrial data historian using ADX after Microsoft discontinued the development of Time Series Insights (TSI). Uptake has been working on transitioning their flagship OT cloud data historian, Fusion, onto Azure Data Explorer (ADX). Another significant development is the recent announcement by GE Digital in April 2022. They have introduced the world's first cloud-native operational data historian, Proficy Historian for Cloud, which is available on the AWS Marketplace. This software, designed for managing industrial data in the cloud, makes it easier and more reliable to transfer OT data from device to enterprise level. Proficy Historian for Cloud enables companies to optimize their existing IT cloud investments and merge OT and enterprise data.

The Excel spreadsheet that provides an estimate of the market (ME) is available and includes three months of support from an analyst. For more detailed information, please refer to the complete report at the following link: https://www.reportlinker.com/p06484290/?utm_source=GNW

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