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Data Historian Market Valuation - 2024-2031

The growth of IIoT is driving increased adoption of data historians to manage and analyze the vast amounts of data generated. Thus, the adoption of the Industrial Internet of Things (IIoT) surged the growth of market size surpassing USD 166.55 Million by 2024 to reach a valuation of USD 258.12 Million by 2031.

Regulatory compliance requirements and stricter regulations in industries like pharmaceuticals, oil and gas, and power generation necessitate robust data management systems. Thus, the stricter regulations in industries enable the market to grow at a CAGR of 6.21% from 2024 to 2031.

Data Historian Market: Definition/ Overview

A data historian is a specialized software program designed to collect and store production data across various industry sectors. It captures data at regular intervals and stores it in a time series database, ensuring efficient use of disk space while allowing quick and easy retrieval. This system enables operators to review the historical performance of machines, systems, and equipment, offering valuable insights into their operation and efficiency during the production process.

In today's rapidly expanding business environment, providing the right information to the right person at the right time is crucial. Data historians play a key role in aggregating and managing data, helping businesses prioritize tasks such as enhancing customer experience, optimizing operations, and driving overall success. These systems simplify data collection, storage, and access across organizations, ensuring seamless synchronization and eliminating the need to manage multiple data connections in different locations.

How the Predictive Maintenance Initiative Surges the Growth of the Data Historian Market?

The predictive maintenance initiatives data historians play a crucial role in predictive maintenance strategies, helping to reduce downtime and maintenance costs. A report by the U.S. Department of Energy stated that predictive maintenance can reduce maintenance costs by 25-30% and eliminate breakdowns by 70-75%. According to the International Data Corporation (IDC), global IoT spending is projected to reach USD 1.1 Trillion by 2023, with a compound annual growth rate (CAGR) of 12.6% from 2019 to 2023. The U.S. Food and Drug Administration (FDA) reported a 42% increase in warning letters related to data integrity issues in the pharmaceutical industry between 2016 and 2019.

The integration of data historians with cloud platforms is expanding their capabilities and accessibility. Gartner predicts that by 2025, over 95% of new digital workloads will be deployed on cloud-native platforms, up from 30% in 2021. Energy management and sustainability data historians are increasingly used for energy optimization and sustainability reporting in various industries. The U.S. Environmental Protection Agency (EPA) reports that companies using energy management systems achieve average energy savings of 2-10% annually.

The incorporation of AI and ML technologies with data historians is enhancing predictive capabilities and decision-making processes. According to a survey by MIT Sloan Management Review and Boston Consulting Group, 91% of companies that have invested in AI have seen a positive return on investment within three years.

How the Data Security and Privacy Concerns, High Implementation, and Maintenance Costs Impede the Growth of the Data Historian Market?

As data historians collect and store vast amounts of sensitive industrial data, concerns about security breaches and data privacy can hinder adoption. According to the U.S. Department of Homeland Security, the number of cybersecurity incidents reported by industrial control systems increased by 110% between 2018 and 2020. The initial investment and ongoing maintenance costs for data historian systems can be prohibitive, especially for small and medium-sized enterprises. A report by the U.S. Small Business Administration found that small businesses spend an average of 6.9% of their revenue on IT expenses, including software implementation and maintenance.

The shortage of skilled professionals who can effectively implement, manage, and interpret data from historian systems poses a significant challenge to market growth. The U.S. Bureau of Labor Statistics projects that employment of database administrators and architects will grow 8% from 2020 to 2030, faster than the average for all occupations, indicating a growing demand for data management skills.

Category-Wise Acumens

How the Cloud Infrastructure in Managing Large Volume of Data Foster the Growth of Cloud Segment?

The cloud segment plays a dominant role in the data historian market, driven by the scalability, flexibility, and efficiency of cloud infrastructure in managing large volumes of data. Cloud development has enabled data historians to leverage cloud environments, offering seamless integration with other cloud-based tools and services such as advanced data analysis, visualization, and reporting. This integration has increased demand for cloud-based data historians, as businesses seek more agile solutions for data storage, retrieval, and processing.

With the rise of cloud adoption across industries, particularly in sectors like BFSI (banking, financial services, and insurance), cloud services have become essential for storing and managing vast amounts of consumer data. Services such as payment gateways, online fund transfers, digital wallets, and unified customer experiences rely heavily on cloud infrastructure, fueling the overall shift toward cloud deployment. The cloud's ability to provide real-time access, reduced maintenance costs, and enhanced security features has made it the preferred choice for organizations aiming to streamline their operations and improve data accessibility.

How the Need for Rapid Data Management Solutions in the Industry Escalate the Growth of the Oil & Gas Segment?

The oil and gas segment dominates the data historian market, owing to the industry's need for robust data management solutions to capture, store, and analyze vast amounts of operational data across exploration, production, and distribution processes. Data historians provide real-time monitoring of critical parameters such as pressure, flow rates, and equipment performance, which is essential for optimizing production and ensuring early detection of potential issues in the oil and gas value chain.

In the upstream sector, data historians play a key role in reservoir management, enhancing production optimization, and enabling efficient decision-making. In midstream and downstream operations, these systems are critical for monitoring pipeline integrity, refining processes, and managing supply chain logistics. By integrating advanced analytics and machine learning algorithms, oil and gas companies can leverage historical data to predict equipment failures, optimize maintenance schedules, and enhance operational efficiency.

As the oil and gas industry continues to prioritize efficiency and safety, data historians have become indispensable in improving asset performance, minimizing downtime, and reducing operational risks. The segment's reliance on data-driven decision-making and real-time monitoring solidifies its dominance in the data historian market.

Country/Region-wise Acumens

How the Adoption of Advanced Industrial Automation Accelerates the Growth of Data Historian Market in North America?

North America substantially dominates the data historian market owing to the advanced industrial automation adoption. North America, particularly the United States, leads in the implementation of advanced industrial automation technologies, driving the demand for data historian solutions. According to the International Federation of Robotics, the United States had an operational stock of about 310,700 industrial robots in 2020, ranking third globally and showing a 6% increase from the previous year.

The region's substantial R&D investments in various industries contribute to the development and adoption of sophisticated data management tools like historians. The National Science Foundation reports that U.S. businesses spent USD 441 Billion on research and development in 2019, accounting for about 70% of total U.S. R&D expenditures.

Robust IT Infrastructure and Cloud Computing Capabilities North America's advanced IT infrastructure and leadership in cloud computing services provide a strong foundation for data historian implementation and growth. According to the U.S. Census Bureau, in 2018, 92% of U.S. businesses used at least one type of cloud computing service, with 30% using advanced cloud computing services for data storage and management.

How does the Rapid Digital Transformation Escalate the Growth of the Data Historian Market in Asia Pacific?

Asia Pacific is anticipated to witness the fastest growth in the data historian market owing to the rapid digital transformation. Many countries in the Asia Pacific region are undergoing accelerated digital transformation, driving the need for advanced data management solutions like historians. According to a report by the Asian Development Bank, digital transformation could add an estimated USD 8.6 Trillion to Asia's GDP by 2025, highlighting the massive potential for growth in digital technologies, including data management systems.

The proliferation of IoT devices and networks in the region is creating a surge in data generation, necessitating robust data historian solutions. A study by IDC predicts that the Asia Pacific region (excluding Japan) will have 9.96 billion IoT devices installed by 2024, accounting for 36.9% of global IoT spending.

The Asia Pacific region's expanding manufacturing sector, particularly in countries like China and India, is driving increased adoption of industrial automation and data management technologies. The United Nations Industrial Development Organization (UNIDO) reports that Asia and the Pacific's share of global manufacturing value added increased from 31.9% in 2000 to 50.5% in 2020, indicating substantial growth in the industrial sector.

Competitive Landscape

The competitive landscape of the Data Historian Market is evolving rapidly, with new players entering the market and existing players expanding their offerings. As the demand for data-driven insights continues to grow, the competition among data historian providers is expected to intensify.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the data historian market include:

• Siemens AG
• Mitsubishi Electric Corporation
• ICONICS, Inc.
• Rockwell Automation, Inc.
• ABB
• AVEVA Group plc (Schneider Electric)
• General Electric Company

Latest Developments:

• In May 2023, dataPARC announced the launch of its next-generation data historian platform, which would give federated plant operations data to technological and operational teams.
• In February 2023, DuPont selected Aspen Technology to modernize its industrial database and improve access, insights, and visibility throughout its organization. DuPont transferred 20 years' worth of historical data to Aspen's data historian.
• In May 2022, GE Digital announced the launch of the Proficy data management solution for electric utilities, which is connected with the Advanced Distribution Management Solution and Advanced Energy Management System.
• In April 2022, GE Digital announced the launch of Proficy Historian for Cloud, a cloud-native operational data historian, on the AWS Marketplace.

Data Historian Market, By Category

• Deployment Mode:
• On-Premises
• Cloud
• Application:
• Predictive Maintenance
• Production Tracking
• GRC Management
• Environmental Auditing Asset
• End-User Industry:
• Oil and Gas
• Manufacturing
• Data Centers
• Metal & Mining
• Chemicals & Pharmaceuticals
• Energy & Utilities
• Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 MARKET DEFINITION
• 1.2 MARKET SEGMENTATION
• 1.3 RESEARCH TIMELINES
• 1.4 ASSUMPTIONS
• 1.5 LIMITATIONS

2 RESEARCH METHODOLOGY

• 2.1 DATA MINING
• 2.2 SECONDARY RESEARCH
• 2.3 PRIMARY RESEARCH
• 2.4 SUBJECT MATTER EXPERT ADVICE
• 2.5 QUALITY CHECK
• 2.6 FINAL REVIEW
• 2.7 DATA TRIANGULATION
• 2.8 BOTTOM-UP APPROACH
• 2.9 TOP-DOWN APPROACH
• 2.10 RESEARCH FLOW
• 2.11 DATA SOURCES

3 EXECUTIVE SUMMARY

• 3.1 GLOBAL DATA HISTORIAN MARKET OVERVIEW
• 3.2 GLOBAL DATA HISTORIAN ABSOLUTE MARKET OPPORTUNITY
• 3.3 GLOBAL DATA HISTORIAN MARKET ATTRACTIVENESS, BY GEOGRAPHY
• 3.4 GLOBAL DATA HISTORIAN MARKET ATTRACTIVENESS, BY COMPONENT
• 3.5 GLOBAL DATA HISTORIAN MARKET ATTRACTIVENESS, BY DEPLOYMENT
• 3.6 GLOBAL DATA HISTORIAN MARKET ATTRACTIVENESS, BY END-USER
• 3.7 GLOBAL DATA HISTORIAN MARKET GEOGRAPHICAL ANALYSIS (CAGR %)
• 3.8 GLOBAL DATA HISTORIAN MARKET, BY DEPLOYMENT (USD MILLION)
• 3.9 GLOBAL DATA HISTORIAN MARKET, BY COMPONENT (USD MILLION)
• 3.10 GLOBAL DATA HISTORIAN MARKET, BY END-USER (USD MILLION)
• 3.11 FUTURE MARKET OPPORTUNITIES
• 3.12 GLOBAL DATA HISTORIAN MARKET SPLIT

4 MARKET OUTLOOK

• 4.1 GLOBAL DATA HISTORIAN MARKET EVOLUTION
• 4.2 GLOBAL DATA HISTORIAN MARKET OUTLOOK
• 4.3 MARKET DRIVERS
  • 4.3.1 RISING DEMAND FOR CONSOLIDATED DATA TO IMPROVE PROCESS AND PERFORMANCE
  • 4.3.2 INCREASE IN DEMAND FOR CLOUD-BASED DATA HISTORIAN SOFTWARE
• 4.4 RESTRAINTS
  • 4.4.1 CONCERNS ABOUT DATA PRIVACY
• 4.5 OPPORTUNITIES
  • 4.5.1 INCREASING DIGITALIZATION AND FALLING COST OF SENSORS
  • 4.5.2 ADVANCEMENT & EMERGING TRENDS IN BIG DATA & ANALYTICS
• 4.6 IMPACT OF COVID-19 ON THE GLOBAL DATA HISTORIAN MARKET
• 4.7 PORTER'S FIVE FORCES ANALYSIS
  • 4.7.1 BARGAINING POWER OF BUYERS
  • 4.7.2 BARGAINING POWER OF SUPPLIERS
  • 4.7.3 THREAT OF SUBSTITUTES
  • 4.7.4 THREAT FROM NEW ENTRANTS
  • 4.7.5 INTENSITY OF COMPETITIVE RIVALRY
• 4.8 PRICING ANALYSIS
• 4.9 MACROECONOMIC ANALYSIS

5 MARKET, BY DEPLOYMENT MODE

• 5.1 OVERVIEW
• 5.1 ON-PREMISES
• 5.2 CLOUD

6 MARKET, BY APPLICATION

• 6.1 OVERVIEW
• 6.2 PREDICTIVE MAINTENANCE
• 6.3 PRODUCTION TRACKING
• 6.4 GRC MANAGEMENT
• 6.5 ENVIRONMENTAL AUDITING ASSET

7 MARKET, BY END-USER INDUSTRY

• 7.1 OVERVIEW
• 7.2 OIL AND GAS
• 7.3 MANUFACTURING
• 7.4 DATA CENTERS
• 7.5 METAL & MINING
• 7.6 CHEMICALS & PHARMACEUTICALS
• 7.7 ENERGY & UTILITIES

8 MARKET, BY GEOGRAPHY

• 8.1 OVERVIEW
• 8.2 NORTH AMERICA
  • 8.2.1 NORTH AMERICA MARKET SNAPSHOT
  • 8.2.2 U.S.
  • 8.2.3 CANADA
  • 8.2.4 MEXICO
• 8.3 EUROPE
  • 8.3.1 EUROPE MARKET SNAPSHOT
  • 8.3.2 GERMANY
  • 8.3.3 U.K.
  • 8.3.4 FRANCE
  • 8.3.5 ITALY
  • 8.3.6 SPAIN
  • 8.3.7 REST OF EUROPE
• 8.4 ASIA PACIFIC
  • 8.4.1 ASIA PACIFIC MARKET SNAPSHOT
  • 8.4.2 CHINA
  • 8.4.3 JAPAN
  • 8.4.4 INDIA
  • 8.4.5 REST OF ASIA PACIFIC
• 8.5 LATIN AMERICA
  • 8.5.1 LATIN AMERICA MARKET SNAPSHOT
  • 8.5.2 BRAZIL
  • 8.5.3 ARGENTINA
  • 8.5.4 REST OF LATIN AMERICA
• 8.6 MIDDLE EAST AND AFRICA
  • 8.6.1 MIDDLE EAST AND AFRICA MARKET SNAPSHOT
  • 8.6.2 UAE
  • 8.6.3 SAUDI ARABIA
  • 8.6.4 SOUTH AFRICA
  • 8.6.5 REST OF MIDDLE EAST AND AFRICA

9 COMPETITIVE LANDSCAPE

• 9.1 OVERVIEW
• 9.2 COMPETITIVE SCENARIO
• 9.3 COMPANY MARKET RANKING ANALYSIS
• 9.4 COMPANY MARKET SHARE ANALYSIS
• 9.5 COMPANY REGIONAL FOOTPRINT
• 9.6 COMPANY INDUSTRY FOOTPRINT
• 9.7 ACE MATRIX
  • 9.7.1 ACTIVE
  • 9.7.2 CUTTING EDGE
  • 9.7.3 EMERGING
  • 9.7.4 INNOVATORS

10 COMPANY PROFILES

• 10.1 SIEMENS AG
  • 10.1.1 COMPANY OVERVIEW
  • 10.1.2 COMPANY INSIGHTS
  • 10.1.3 SEGMENT BREAKDOWN
  • 10.1.4 PRODUCT BENCHMARKING
  • 10.1.5 WINNING IMPERATIVES
  • 10.1.6 CURRENT FOCUS & STRATEGIES
  • 10.1.7 THREAT FROM COMPETITION
  • 10.1.8 SWOT ANALYSIS
• 10.2 MITSUBISHI ELECTRIC CORPORATION
  • 10.2.1 COMPANY OVERVIEW
  • 10.2.2 COMPANY INSIGHTS
  • 10.2.3 SEGMENT BREAKDOWN
  • 10.2.4 PRODUCT BENCHMARKING
  • 10.2.5 WINNING IMPERATIVES
  • 10.2.6 CURRENT FOCUS & STRATEGIES
  • 10.2.7 THREAT FROM COMPETITION
  • 10.2.8 SWOT ANALYSIS
• 10.3 ROCKWELL AUTOMATION INC.
  • 10.3.1 COMPANY OVERVIEW
  • 10.3.2 COMPANY INSIGHTS
  • 10.3.3 SEGMENT BREAKDOWN
  • 10.3.4 PRODUCT BENCHMARKING
  • 10.3.5 KEY DEVELOPMENTS
  • 10.3.6 WINNING IMPERATIVES
  • 10.3.7 CURRENT FOCUS & STRATEGIES
  • 10.3.8 THREAT FROM COMPETITION
  • 10.3.9 SWOT ANALYSIS
• 10.4 ABB
  • 10.4.1 COMPANY OVERVIEW
  • 10.4.2 COMPANY INSIGHTS
  • 10.4.3 SEGMENT BREAKDOWN
  • 10.4.4 PRODUCT BENCHMARKING
  • 10.4.5 WINNING IMPERATIVES
  • 10.4.6 CURRENT FOCUS & STRATEGIES
  • 10.4.7 THREAT FROM COMPETITION
  • 10.4.8 SWOT ANALYSIS
• 10.5 AVEVA GROUP PLC (SCHNEIDER ELECTRIC)
  • 10.5.1 COMPANY OVERVIEW
  • 10.5.2 COMPANY INSIGHTS
  • 10.5.3 SEGMENT BREAKDOWN
  • 10.5.4 PRODUCT BENCHMARKING
  • 10.5.5 KEY DEVELOPMENTS
  • 10.5.6 WINNING IMPERATIVES
  • 10.5.7 CURRENT FOCUS & STRATEGIES
  • 10.5.8 THREAT FROM COMPETITION
  • 10.5.9 SWOT ANALYSIS
• 10.6 GENERAL ELECTRIC COMPANY
  • 10.6.1 COMPANY OVERVIEW
  • 10.6.2 COMPANY INSIGHTS
  • 10.6.3 SEGMENT BREAKDOWN
  • 10.6.4 PRODUCT BENCHMARKING
  • 10.6.5 KEY DEVELOPMENTS
• 10.7 ICONICS, INC.
  • 10.7.1 COMPANY OVERVIEW
  • 10.7.2 COMPANY INSIGHTS
  • 10.7.3 SEGMENT BREAKDOWN
  • 10.7.4 PRODUCT BENCHMARKING