Data Historian Market Insights by Top Companies and Latest Trends | Future Growth | Revenue Forecast| Demand Forecast to 2023

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment

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 It is necessary for engineering industries to replace their outdated software solutions with advanced data historian solutions.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.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Data Historian Market Insights by Top Companies and Latest Trends | Future Growth | Revenue Forecast| Demand Forecast to 2023

“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.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The break-up of the profiles of the primary participants is:

• By Company: Tier 1: 55%, Tier 2: 20%, and Tier 3: 25%
• By Designation: C-level: 60%, Director level: 25%, and Others: 15%
• By Region: North America: 10%, Europe: 20%, APAC: 40%, and RoW: 30%

Research Coverage
The report segments the data historian market by component (software and services), by application that includes production tracking, environment auditing, asset performance management, GRC management, predictive maintenance, and others. By organization size, the report segments the market by large enterprises and Small and Medium-sized Enterprises (SMEs). By end user, there are oil and gas, metal and mining, paper and pulp, chemicals and pharmaceuticals, utilities, and others such as food and beverages, infrastructure, heavy engineering and automotive and railways. The report covers 5 major regions: North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.

The report would help leaders/new entrants in this market in the following ways:
1. This report segments the data historian market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different end user and regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders better understand competitors and gain more insights to enhance their position in the market. The competitive landscape section includes new product launches/developments; partnerships and collaborations; mergers and acquisitions; and expansions.

TABLE OF CONTENTS

1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 MARKET SCOPE 18
1.4 YEARS CONSIDERED FOR THE STUDY 19
1.5 CURRENCY 20
1.6 STAKEHOLDERS 20
2 RESEARCH METHODOLOGY 21
2.1 RESEARCH DATA 21
2.1.1 SECONDARY DATA 22
2.1.2 PRIMARY DATA 22
2.1.2.1 Breakdown of primaries 23
2.1.2.2 Key industry insights 23
2.2 MARKET SIZE ESTIMATION 25

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