Data Historian Market is estimated to be US$ 1.70 billion by 2030 with a CAGR of 5.5 % during the forecast period
Data Historian Market accounted for US$ 1.0 billion in 2020 and is estimated to be US$ 1.70 billion by 2030 and is anticipated to register a CAGR of 5.5%. A Data Historian is a sort of time-series database designed to collect and preserve process data from a SCADA or automation system in an efficient manner. The recorded data can subsequently be utilized to build reports, illustrate process data trends on charts, and do data analysis. For each measured object, data points are set with a tag name and other properties. The data records for these points are logged by historians with a timestamp, a value, and a data quality indicator. The records are kept in a sequence of secure binary files that can be retrieved quickly.
The report " Global Data Historian Market, By Component (Software/Tools and Services), By Deployment Model (On-premises and Cloud), By Organization Size (Small and Medium-sized Enterprises and Large Enterprises), By Application (Production Tracking, Environmental Auditing, Asset Performance Management, GRC Management, Predictive Maintenance, and Others), By End User (Oil and Gas, Marine, Chemicals and Pharmaceuticals, Paper and Pulp, Metal and Mining, Utilities, Data Centers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2029’’
Key Highlights:
· In August 2021, Tignis, a technology innovator in AI-Powered process control with a physics and engineering foundation, today announced the PAICe Product Suite, a new AI and Machine Learning analytics tool set for manufacturing and process control that puts the power of Machine Learning in the hands of non-data scientists. This next-generation technology helps manufacturers achieve process improvements not previously possible with advanced process control (APC), including the ability to utilize surrogate machine learning models created by Tignis that are more accurate and up to one million times faster than physics-based simulations, resulting in faster production, better quality control and faster time to market.
Analyst View:
Businesses must now offer the appropriate information to the right person at the right time in order to keep up with their rapid growth. Despite the challenges, aggregating data is crucial for prioritizing business tasks such as improving customer experience, operational processes, and overall business success. Data historian solutions are critical for gathering, preserving, and making data available to users across organizations. The data historian solutions synchronize the data, removing the hassle of maintaining several connections across multiple sites. Plant managers and engineers can analyses and tune control loops, investigate problems, and notice changes in equipment behavior because of the reduced complexities.
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Key Market Insights from the report:
The Global Data Historian Market accounted for US$ 1.0 billion in 2020 and is estimated to be US$ 1.70 billion by 2030 and is anticipated to register a CAGR of 5.5%. The Global Data Historian Market is segmented based on the component, deployment model, organization size, application, end-user and region.
· By Component, the Global Data Historian Market is segmented into Software/Tools and Services.
· By Deployment Model, the market is segmented into On-premises and Cloud.
· By Organization Size, the market is segmented into Small and Medium-sized Enterprises and Large Enterprises.
· By Application, the market is segmented into Production Tracking, Environmental Auditing, Asset Performance Management, GRC Management, Predictive Maintenance, and Others.
· By End-user, the market is segmented into Oil and Gas, Marine, Chemicals and Pharmaceuticals, Paper and Pulp, Metal and Mining, Utilities, Data Centers, and Others.
· By Region, the Global Data Historian Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America on the basis of region is expected to hold maximum share in the growth of the global data Historian market owing to high adoption of technologically advanced solutions.
Competitive Landscape:
The key players operating in the global Data Historian market include General Electric Company, ABB Ltd., The Emerson Electric Company, Siemens AG, AVEVA Group plc, Honeywell International Inc., Rockwell Automation, Inc., OSIsoft, LLC, ICONICS, Inc., International Business Machines Corporation, Yokogawa Electric Corporation, PTC, Inc., Inductive Automation, Canary Labs, and Open Automation Software.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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