Dublin, Dec. 18, 2020 (GLOBE NEWSWIRE) -- The "Data Historian Market by Application (Production Tracking, Environmental Auditing, Asset Performance Management, and GRC Management), Component (Software/Tools, Services), Deployment Mode, Organization Size, End User, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global data historian market size is expected to grow from USD 1.1 billion in 2020 to USD 1.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.0% during the forecast period.
A data historian solution, also referred to as process historian or operational historian, is a software program that deals with time-series data. A time-series database stores data pieces in the order they were received. In other words, a time series database is optimal for retrieving a piece of data that changes over time. Process historians fall under the category of industrial software due to the critical role they play in the success of analysis and decision-making.
Process historians are complex pieces of software that are used to store and analyze vital processes and industrial data. They record manufacturing data over a specific amount of time from different parts of the industry for the user to analyze. Moreover, data historian solutions help integrate confidential business data obtained from a wide range of external and internal sources under a controlled, auditable environment. These solutions enable organizations to implement a uniform corporate solution for handling the internal review processes, incident reports, and audit findings. Additionally, they help the organizations come up with corrective measures to rectify the inconsistencies that occur. The report's objective is to define, describe, and forecast the data historian market size based on component, application, deployment mode, organization size, end-user, and region.
The emergence of the Industrial Internet of Things (IIoT) is expected to provide substantial growth opportunities to the data historian market during the forecast period, as IIoT enhances the operational efficiency of the pipeline network and reduces costs related to the transportation and maintenance of gas/liquid.
The oil and gas pipeline sector has been impacted due to a weak demand and low oil and gas prices as a result of COVID-19. While the worsening financial situation is resulting in a delay of upcoming pipeline projects, measures to curb the spread of pandemic have impacted operations of existing pipelines. While pipeline and piping systems remain in operation throughout the current COVID-19 pandemic, understandably some repair and maintenance scopes have been delayed. When normal operations resume, it will be even more essential to plan effectively with early engagement from the supply chain and ensure the use of the safest and most efficient tools on the market.
The services segment to grow at a higher CAGR during the forecast period
The data historian services segment has been segmented into 2 types, namely, managed services and professional services. The professional services segment has been further classified into consulting services, and support and maintenance services. These services form an integral part of the software life cycle, which mainly comprises product upgradation, maintenance, training, and consulting. In this digital economic era, enterprises are evolving and demanding new ways to improve their Return on Investment (RoI) and optimize their business. Services boost the growth of organizations and assist them in generating higher revenues. Enterprises are becoming service-oriented to streamline their operations and optimize business resources. Support, which is also a part of the post-sales services, is a major contributor to the data historian market size. Organizations have realized the importance of data historian services and also look for additional services to maintain and improve their production.
The oil and gas segment to have the largest market size during the forecast period
Oil and gas is a multi-billion dollar industry and needs regular optimization of business processes. Technologies today enable the generation and collection of vast amounts of data, which is used for gaining additional insights to decide upon better process and asset performance monitoring to accelerate revenues. Oil and gas explorations require the potential care of machinery and instruments.
Moreover, the exploration areas are usually away from the land, and it is necessary to maintain the relevant equipment. As mentioned above, the oil and gas is a multi-billion-dollar industry, even the smallest breakdown in production equipment leads to heavy losses. Hence, companies operating in this industry greatly rely on the past data to analyze any machine's condition to avoid future breakdowns by using the predictive maintenance capabilities of the deployed data historian solution.
The environmental auditing segment to grow at a higher CAGR during the forecast period
Pollution is an unavoidable consequence of modern industrial technologies, which are impacting humans' health and the economic well-being. Environmental auditing can be referred to as the process of analyzing the impact of industries on the environment. It has become necessary to perform environmental audits to make industries aware of the use of better and cleaner technologies. Data historian solutions help in understanding the previous use of the industrial site through the collected historical plant data, which can be further analyzed to identify the glitches and rectify them to build cleaner manufacturing environment. Moreover, these solutions can be used to identify potential cost-savings from waste minimization and other activities.
Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The major countries in APAC are technology-driven and have major opportunities in terms of investments and revenues. These countries include Australia and New Zealand (ANZ), China, Japan, and Singapore. Rapid digitalization in these countries has resulted in the production of bulks of unstructured data. The region has shown an untapped potential in the adoption of enterprise data management solutions, as a result of which, most of the companies are entering the APAC region to enhance their market reach. Therefore, to overcome the challenges arising out of the rapidly growing volumes of high-velocity data, companies are using data historian solutions to store the data on the basis of time series. This is one of the major factors that is accelerating the growth of the data historian market in the APAC region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Data Historian Market
4.2 Market: Top Three Applications
4.3 Market, by Region
4.4 Market, Top Two Applications and End-users
5 Market Overview and Industry Trends
5.2 Market Dynamics
220.127.116.11 Increasing Demand for Consolidated Data for Process and Performance Improvement
18.104.22.168 Rising Industrial Big Data
22.214.171.124 Growing Investments in Analytics
126.96.36.199 High Deployment Costs
188.8.131.52 Legal Concerns and Data Privacy Issues
184.108.40.206 Growing Need for Industrial 360 Hypervision
220.127.116.11 COVID-19 Pandemic Increases Need for Remote Monitoring and Management of Assets and Business Processes
18.104.22.168 Growing Impact of Iiot
5.2.5 Cumulative Growth Analysis
5.3 Data Historian Market: COVID-19 Impact
5.4 Case Study Analysis
5.4.1 Use Case 1: Enhanced Visibility of Data Resulted in Greater Productivity
5.4.2 Use Case 2: Moving Data from Programmable Logic Controller (Plc) to Open Databases for Historical Logging and Analysis
5.4.3 Use Case 3: Data Mining and Data Aggregation Needs
5.5 Data Historian: Evolution
5.6.1 EU General Data Protection Regulation (GDPR)
5.6.2 Cloud Standard Customer Council (CSCC)
6 Data Historian Market, by Component
6.1.1 Components: Market Drivers
6.1.2 Components: COVID-19 Impact
6.3.1 Professional Services
22.214.171.124 Support and Maintenance
6.3.2 Managed Services
7 Data Historian Market, by Application
7.1.1 Applications: Market Drivers
7.1.2 Applications: COVID-19 Impact
7.2 Production Tracking
7.3 Environmental Auditing
7.4 Asset Performance Management
7.5 Governance, Risk, and Compliance Management
7.6 Predictive Maintenance
8 Data Historian Market, by Deployment Mode
8.1.1 Deployment Modes: Market Drivers
8.1.2 Deployment Modes: COVID-19 Impact
9 Data Historian Market, by Organization Size
9.1.1 Organization Size: Market Drivers
9.1.2 Organization Size: COVID-19 Impact
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises
10 Data Historian Market, by End-user
10.1.1 End-users: Market Drivers
10.1.2 End-users: COVID-19 Impact
10.2 Oil and Gas
10.4 Chemicals and Petrochemicals
10.5 Paper and Pulp
10.6 Metals and Mining
10.7 Power and Utilities
11 Data Historian Market, by Region
11.2 North America
11.5 Middle East and Africa
11.6 Latin America
12 Competitive Landscape
12.2 Market Evaluation Framework
12.3 Market Share, 2020
12.4 Key Market Developments
12.4.1 New Product Launches and Product Enhancements
12.4.2 Business Expansions
12.4.3 Mergers and Acquisitions
12.4.4 Partnerships, Agreements, and Collaborations
12.5 Company Evaluation Matrix, 2020
12.5.2 Emerging Leader
13 Company Profiles
13.9 Aspen Technology
13.11 Rockwell Automation
13.16 Canary Labs
13.18 Inductive Automation
13.19 Industrial Video & Control
13.21 Kx Systems
13.22 Livedata Utilities
13.23 Open Automation Software
13.25 Savigent Software
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