Data Historian Market: Current Analysis and Forecast (2021-2027)
A data historian is a software program that records the data of processes running in a computer system. Organizations use data historians to gather information about the operation of programs to diagnose failures when reliability and uptime are critical. The data historian growth is attributed to the wide applications in data centers, chemical plants, nuclear power plants, automobiles, pharmaceutical manufacturing, water management, environmental control, and agriculture for recording data on network bandwidth, fluid levels, pressure level, fan temperature, limit switches, and valve positions in one or more locations. Moreover, users can evaluate its operation, efficiency, profitability, and setbacks of production with data historians. The need for machine performance monitoring, heavy equipment monitoring, and checking production status in the manufacturing industry is increasing demand for data historian solutions. Moreover, data historian software used to record analog readings, digital readings, product information, and efficient data storage through compression techniques. This is expected to increase demand for data historian in the manufacturing sector.
Based on components, the market is classified into Software and solution. The software segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 because data historian software has led to process improvement and therefore the demand for such software has surged in the market.
Based on application, the market is segmented into less than Production Tracking, Environmental Auditing, Asset Performance Management, GRC Management, Predictive Maintenance and others (security and quality control management). The assets performance management segment grabbed XX% market share of the global Data Historian market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as data historian ensures high speed data processing, remote data collection, and intelligent asset management to different industry.
Based on deployment mode, the market is segmented into on-premises and cloud. In 2020, the cloud segment dominated the Data Historian market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing surging adoption of cloud deployment in small and medium scale enterprises.
Based on organization size, the market is classified into SMEs and Large enterprises. The SMEs segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027. However, large scale enterprises segment is expected to gain considerable market presence in forecast period.
Based on End-use, the market is segmented into Oil and Gas, Marine, Chemicals and Petrochemicals, Paper and Pulp, Metal and Mining, Power and Utilities and Others In 2020, the oil and gas segment dominated the Data Historian market and accounted for XX% market share. The requirement for machine execution monitoring, hefty equipment monitoring, and checking creation status in the oil and gas industry is expanding the interest for data history specialist arrangements.
For a better understanding of the market adoption of Data Historian , the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 predominantly because of rapid urbanization and economic development.
Some of the major players operating in the market include GE, ABB, Emerson, Siemens, AVEVA, Honeywell, Rockwell Automation, OSIsoft, ICONICS, IBM, Yokogawa, PTC, Inductive Automation, Canary Labs, Open Automation Software. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.