Ready Yourself for Challenges in the Time of COVID-19. Here’s What Stakeholders Need to Know About the Evolving Global Data Historian Market
The global market for Data Historian is projected to reach US$1.1 billion by 2025, driven by the rise of industrial big data and the growing importance of storing process data for time-series analysis to extract phenomena like long-term trends, cyclical fluctuations and anomalies.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Data Historian market. Report segmentation includes Application (Production Tracking, Environmental Auditing, Asset Performance Management, GRC Management, Predictive Maintenance, Other Applications); End-Use (Data Centers, Chemicals & Pharmaceuticals, Marine, Oil & Gas, Metal & Mining, Paper & Pulp, Other End-Uses) ).
10 June 8:15 A.M., California/Marketwire/ - According to the new market research report, the global market for Data Historian is projected to reach US$1.1 billion by 2025, driven by the rise of industrial big data and the growing importance of storing process data for time-series analysis to extract phenomena like long-term trends, cyclical fluctuations and anomalies. With modern businesses operating in data-intensive environments, data is at the core of about every vital business decision. Data volumes are increasing at an alarming rate with organizations becoming more scattered and large number of sensors being used. Consolidating and managing the large amount of industrial big data derived from various devices, systems and applications has become a major challenge for industries. On the other hand, rapid expansion of businesses has further increased the need for precise information to make accurate decisions. Growing in popularity under this scenario is data historian also called as operational historian or process historian, and defined as an intelligent software program which captures and retrieves production as well as process data by time and stores data in a time series database.
Among the numerous end-use industries, the oil and gas industry holds the largest share driven by increasing digitalization trend, growing demand for consolidating data for both process as well as performance enhancement. Process historians have become an integral cog in digital transformation of oil companies, enabling to quickly automate as well as streamline business processes. PI historian software aids oil and gas companies in upstream operations to address key challenges such as production optimization, operational intelligence, condition based & predictive maintenance, real-time equipment monitoring, inspections and integrity management, real time drilling data, down hole measurements, and well integrity & well completions. In the downstream operations, the historian software aids in addressing challenges such as asset utilization, maximizing yield, operational intelligence, condition based & predictive maintenance, condition based & predictive maintenance, and hydrocarbon loss detection.
Key Competitors Covered in the Report
Aspen Technology, Inc.
AVEVA Group plc
Emerson Electric Co.
Honeywell International Inc.
Rockwell Automation, Inc.
Yokogawa Electric Corporation
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, and Rest of Europe)
Rest of World
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 19543. Among this pool, 1954 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 391 unique participations, a total of 176 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
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Global Industry Analysts, Inc.