The global data historian market is predicted to reach USD 1.07 billion in 2024 and USD 1.48 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.8% over the outlook period.
Data Historian, also identified as Process Historian or Operational Historian, is a software program used by various end-user verticals that records and retrieves production and process data over time. It stores the information in a time series database that can efficiently store data with minimal disk space and fast retrieval. In addition, it offers various applications such as production monitoring, environmental auditing, and asset performance management in all sectors.
The increasing volumes of industrial big data coupled with the increasing demand for consolidated data for process and performance improvement are important factors expected to drive the growth of the global Data Historian market. For example, the data generated by companies, according to estimates by industry experts, includes mostly unstructured data (80%), and only 20% of the data is structured. Data comes in a variety of formats, from structured digital data in traditional databases to unstructured text documents, video, audio, email, stock data, and financial transactions.
Additionally, with the advent of Industry 4.0, smart factories and organizations around the world are demonstrating a transition towards using massive amounts of data at multiple levels of their process. This leads to a hike in demand for historical data solutions by organizations to ensure efficient management, stable and efficient plant operations, and robust analytics.
Cloud deployment experienced the highest growth rate during the forecast period. The main reason is higher adoption among small and medium-sized enterprises (SMEs). Most assets are physically distributed, for example, in a building or several locations. The cloud-based deployment option makes it easy to operate across multiple locations without having to install software and maintain supporting hardware to back it up.
Cloud-based data history can store a large amount of data and easily integrate with tools to analyze it into actionable information. You can enable access to big data from any desktop, web browser, or mobile device, connecting to a reliable cloud infrastructure. Additionally, the cloud-based data historian can use connection technology that leverages public, private, or hybrid cloud infrastructure to increase collaboration and efficiency without compromising security.
Cloud-based data historians provide advanced analytics. For example, Honeywell's Uniformance Cloud Historian uses cloud technology to analyze data across multiple sites to improve asset availability, increase plant uptime, and equip users with new, cutting-edge technologies, cloud, and data lake for business data, assets, and processes. In addition, it helps the user to improve the performance of the factory and the company.
Data history functionality, such as data synchronization, which eliminates complexity and allows multiple connections to be maintained at remote locations, is expected to drive the growth of the global data historian market. Moreover, the need to get the required data at the right time to avoid crashes in a process where the data historian plays an important role in driving the growth of the data historian market.
However, the high cost of establishing the data historian and the unavailability of reasonable models are the major factors that are expected to slow the growth of the worldwide market.
Due to the COVID-19 outbreak, market demand is likely to decline due to the closure of industries around the world. However, with the resurgence, the demand for historical data solutions is expected to increase over the forecast period, as is the demand for efficient operations across all industries.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 to 2029 |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2029 |
|
CAGR |
6.8% |
|
Segments Covered |
By Component, End User, Application, Implementation, Organization Size, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
ABB Ltd, General Electric Company, Siemens AG, Emerson Electric Co., Honeywell International Inc., AVEVA Group plc, Rockwell Automation, Inc., ICONICS, Inc., OSIsoft, IBM Corporation, PTC, Inc., Yokogawa Electric Corporation, Inductive Automation, Open Automation Software, Canary Labs, InfluxData, Inc., Kx Systems, Sorbotics. LLC and Progea, Savigent Software, and Others. |
On the basis of geography, the global data historian market can be segmented into North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APACs, Japan, the Middle East, and Africa. Among these regions, SEA and APAC data markets are considered to be leaders in terms of value, with India and Taiwan being the most attractive markets in the region. In addition, SEA and other APAC markets are considered to be growing rapidly due to increasing R&D spending for new innovations in the data history market. In addition, increased spending in countries such as Australia and India has led to the need for cost-effective data management software and services. North America and Western Europe follow SEA and other ICCAs in terms of value over the forecast period due to the growing number of companies in the region.
Some of the major players in the global data historian market are ABB Ltd, General Electric Company, Siemens AG, Emerson Electric Co., Honeywell International Inc., AVEVA Group plc, Rockwell Automation, Inc., ICONICS, Inc., OSIsoft, IBM Corporation, PTC, Inc., Yokogawa Electric Corporation, Inductive Automation, Open Automation Software, Canary Labs, InfluxData, Inc., Kx Systems, Sorbotics. LLC, Progea, and Savigent Software, among others.
By Component
By End User
By Application
By Implementation
By Organization Size
By Region
Frequently Asked Questions
Key drivers of growth in the global Data Historian Market include the increasing adoption of Industrial IoT (IIoT), growing demand for efficient data management solutions, the need for real-time data analysis in industries such as manufacturing, oil and gas, and power generation, and the rising focus on regulatory compliance and data security.
The integration of AI and machine learning enhances Data Historian solutions by providing advanced analytics, predictive maintenance, and anomaly detection. This allows industries to proactively address issues, optimize processes, and reduce operational costs, thereby driving the adoption of AI-enabled Data Historian systems.
Future trends include the increasing use of cloud-based Data Historian solutions, enhanced capabilities through AI and machine learning, greater emphasis on cybersecurity, and the development of more user-friendly and scalable systems. Additionally, the integration with other industrial software and IoT platforms will drive further market growth.
Regulatory standards impact the Data Historian Market by necessitating stringent data recording, storage, and retrieval processes to ensure compliance with industry-specific regulations. This includes adherence to environmental regulations, safety standards, and data protection laws, which drive the demand for reliable and compliant Data Historian solutions.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region