Data Historian Market

Global Data Historian Market Size & Growth (2023-2028)

The Data Historian market is foreseen to expand from $934.3 million in 2022 to reach $1,371.1 million in 2028 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, 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 that are 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 is leading to a hike in demand for historical data solutions by organizations to ensure efficient management, stable and efficient plant operations, and robust analytics.

Covid-19 impact on Data Historian 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 with increasing demand for efficient operations across all industries.

Recent Developments:

• In December 2019, General Electric Digital published about its latest updates to the Proficy Historian offering, which provides consumers a scalable solution to gather and aggregate information in implementation of any size and extend data migration from the edge to the cloud. Updates include tag mapping, trend analysis with annotations, and the ability to define an asset model, allowing users to put data in context with business needs.

Market growth and trends:

Cloud implementation likely to drive market growth in future

• 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 of the assets are physically distributed, for example, in a building or in 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 provide the ability to store a large amount of data and easily integrate with tools to analyze that data 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 and 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.

Market Drivers and Restraints:

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, is 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.

GLOBAL DATA HISTORIAN MARKET REPORT COVERAGE:

Market segmentation:

The global data historian market can be segmented by component, end user, application, implementation, organization size, and region.

Global Data Historian Market - By Component:

On the basis of component, the historical data market is segmented into:

• Software
• Services

Global Data Historian Market - By End User:

On the basis of end user, the Data History market is segmented into:

• Data Centers
• Chemicals and Pharmaceuticals
• Petroleum Gas
• Metals and Mining
• Paper Pulp
• Sailor
• Others

Global Data Historian Market - By Application:

Based on Application, the historical data market is segmented into:

• Production Monitoring
• Environmental Audit
• Asset Performance Management
• GRC Management
• Predictive Maintenance
• Others

Global Data Historian Market - By Implementation:

On the basis of the implementation, the historical data market is segmented into:

• On Premises
• Cloud

Global Data Historian Market - By Organization Size:

On the basis of the enterprise size, the market is segmented into:

• Large Companies
• Small and Medium Enterprises

Regional analysis:

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, 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.

Key market players:

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 and Progea, Savigent Software, among others.