Data Historian Market Analysis

Data Historian Market Overview

The Data Historian Market is projected to grow from USD 1.23 billion in 2024 to USD 1.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.55% during the forecast period (2024 - 2032). Additionally, the market size for Data Historian was valued at USD 1.16 billion in 2023.

There is an increasing requirement for consolidated data to improve performance. Big Data & Analytics Progress & Developing Trends are the key market drivers enhancing market growth.

Industry News of Data Historian Market

February 2023- In a joint venture with Radial Software Group B.V., Yokogawa Electric Corporation will serve as a worldwide value-added reseller for the company's Viewport software. By providing a cutting-edge AI-powered solution with Viewport that offers a sole view of the published technical information, Yokogawa will be able to improve its customers' asset management capabilities, lowering risk, promoting operational excellence, and moving them closer to digital transformation. In order to provide the best scalability, installation flexibility, & integration with the Yokogawa solutions and services, Yokogawa will be able to manage implementation, integration, and maintenance for instances of the Viewport software operating on the Yokogawa Cloud platform. The system also enables the construction of document folders for work preparation or work orders, the use of synonym tables for quick searching, and the integration of the real-time supervisory control & data acquisition data or the data historian data particularly to pipe and instrumentation schematics.

Data Historian Market Trends

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  Growing need for unified data to enhance processes and performance drives the market growth

  
  

Due to the fast development of their operations, businesses now need to convey the appropriate information to the appropriate person at the appropriate time. Consolidating data has become vital for prioritizing company tasks, such as improving the customer experience, operational efficiency, and overall corporate success, despite its challenges. To gather, store, and make the stored data accessible to users across companies, data historian solutions are crucial. The data historian solutions synchronize the data, removing the need to maintain several connections across far-flung site locations. Plant managers and engineers can examine events, evaluate and fine-tune control loops, and spot changes in equipment behavior since there are fewer complications. Data historian solutions are anticipated to be used by real-time choices and sophisticated analytics. As a result, data historian solutions are crucial for combining data from different sources. With the help of these technologies, processes and performance may be improved through better operational decisions. Thus, this element is driving the market CAGR.

The popularity of cloud services has expanded as the globe transitions to a digital economy. Technology advancements will expand the market for data historian solution providers. Because it comprises several systems, networked devices, and applications, big industrial data represents a vast volume of information that is challenging to handle. As a result, industrial sectors now need to switch over to new cloud-based data historian solutions in favor of their outdated software. Asia's developed country governments have boosted their use of big data. Governments are creating teams of highly qualified and competent individuals who will power their countries' progress for two decades. Thus, this aspect is anticipated to accelerate Data Historian market revenue globally.

Data Historian Market Segment Insights

Data Historian Component Insights

Based on Components, the Data Historian Market segmentation includes Software and Services. The Services segment dominated the market, accounting for 35% of market revenue. In 2022, services held the greatest market share (62.78%); over the forecast period, it is expected to expand at a CAGR of 5.52%. Important prominent players provide a completely cloud-managed service, or the historian service can be installed locally on the measuring unit, the local network, or both.

Data Historian Deployment Insights

Based on Deployment, the Data Historian Market segmentation includes Cloud-based, On-Premise. The Cloud-based category generated the most income. Scalability, adaptability, ease of Deployment, and cost-effectiveness are just a few benefits cloud-based data historian systems offer, encouraging businesses to choose the cloud deployment model. Cloud computing has become a very popular deployment method among businesses due to its low prices and simplicity of use.

Data Historian Application Insights

Based on Application, the global Data Historian industry has been segmented into Production Tracking, Environmental Auditing, Asset Performance Management, Predictive Maintenance and others. Asset Performance Management held the largest segment share in 2022. There is an increasing need to manage assets efficiently and sustainably and reduce ownership costs across asset-centric enterprises to fulfill regulatory compliance and reporting criteria (TCO).

Data Historian End User Insights

Based on End User, the global Data Historian industry has been segmented into oil and Gas, marine, chemicals and pharmaceuticals, paper and pulp, metals and mining, utilities, data centers, and others. The Oil & Gas End-user Industry now holds the largest market share. The oil and gas end-user industry, worth several billion dollars, needs constant process improvement. Modern technology makes it possible to create and gather enormous amounts of data, which can then be utilized to gain more knowledge and enhance the process and asset performance monitoring to boost revenue. The potential need for equipment and device maintenance emerges from oil and gas exploration.

Data Historian Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Data Historian market accounted for USD 0.50 billion in 2022 and is anticipated to exhibit a significant market CAGR growth during the study period due to increasing R&D spending for fresh innovations in the local data historian industry. Moreover, suppliers like General Electric Company, Honeywell International Inc., and Rockwell Automation, Inc. consistently invest in the local end-user industry.

Further, the major countries studied in the market report are The U.S., Canada, German,  Italy, Spain, France, the UK,, China, Japan, India, Australia, South Korea, and Brazil.

The APAC Data Historian market is anticipated to be a high potential area for growth of the data historian market due to the rising need for increased corporate efficiency and the professionally developed data management solutions provided by manufacturers operating there. The newest technology, which many Asian nations have embraced, has made data a valuable resource for growth. As a result, the dominant technology trends are information-intensive data management solutions. The need for data consolidation has resulted in the movement of data to a centralized environment due to the rising number of partnerships and mergers in this Region. Moreover, the China Data Historian market held the largest market share, and the India Data Historian market was the fastest-growing market in the Asia-Pacific region.

Due to increased R&D investment in new developments throughout the area, the Europe Data Historian market is predicted to have a nearly 26% share of the worldwide market for data historians in 2022. Europe is the biggest market for data historian solutions since there are many software and service suppliers for data historians there. This is because of the sharp demand for data historian solutions across various applications, including risk and audit management, condition-based maintenance, asset utilization monitoring, and production tracking. Further, the Germany Data Historian market held the largest market share, and the UK Data Historian market was the fastest-growing market in the European Region.

Data Historian Key Market Players & Competitive Insights

Leading industry companies are making significant R&D investments to broaden their product offerings, which will spur further expansion of the market for Data Historian products. Releases of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other businesses are all significant market changes. Also, market participants are taking a variety of calculated steps to strengthen their global footprint. The Data Historian industry must offer reasonably priced products to grow and thrive in a more competitive, cutthroat environment.

One of the primary business strategies manufacturers employ in the worldwide Data Historian industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. The Data Historian industry has recently provided some of medicine's most important benefits. Major players in the Data Historian market, ABB Limited (Sweden), AVEVA Group (UK), General Electric Company (US), Honeywell International Inc. (US), IBM Corporation (US), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Aspen Technology (US), Emerson Electric Co. (US), PTC Inc. (US), Rockwell Automation Inc. (US), ICONICS (US), and others, are attempting to increase market demand by investing in research and development operations.

The American multinational firm General Electric has a division called GE Digital. The company, headquartered in San Ramon, California, offers industrial businesses software and industrial Internet of Things services. In January 2022, GE Digital released the most recent edition of Proficy Historian. This historian software program gathers industrial time series and Alarms & Events (A&E) data to examine the performance of assets and processes. The firm created Asset and Process Performance Proficy Historian 2022 to have a more adaptable and scalable architecture from the sensor to the Enterprise, helping to make it the cornerstone for Industrial Internet deployments.

A worldwide British firm providing information technology consulting services, AVEVA Group plc is based in Cambridge, England. Until Schneider Electric bought it in January 2023, it was traded on the London Stock Exchange. To administer and maintain hyperscale data centers, Schneider Electric and AVEVA Group plc entered a strategic partnership in May 2020. Aveva has a long history of providing end-to-end unified solutions. By combining Schneider Electric's significant data center expertise and worldwide execution capabilities with Aveva, AVEVA Group plc is expanding the partnership into new markets and reaching more clients.

Key Companies in the Data Historian market include

• ABB Limited (Sweden)


• AVEVA Group (UK)


• General Electric Company (US)


• Honeywell International Inc. (US)


• IBM Corporation (US)


• Siemens AG (Germany)


• Yokogawa Electric Corporation (Japan)


• Aspen Technology (US)


• Emerson Electric Co. (US)


• PTC Inc. (US)


• Rockwell Automation Inc. (US)


• ICONICS (US)

Data Historian Industry Developments

• November 2022 The TDengine PI Connector, a potent tool made available by TDengine, enables PI clients to create hybrid systems using their current PI investments while laying the groundwork for the future expansion of data historians and the usage of cutting-edge analytics tools.


• May 2022 Electric utilities may now use Proficy Historian, a data management tool, according to GE Digital. Using Proficy Historian for Grid, utilities can create new value while reducing complexity.

Data Historian Market Segmentation

Data Historian Component Outlook

• Software


• Services

Data Historian Deployment Outlook

• Cloud-based


• On-Premise

Data Historian Application Outlook

• Production Tracking


• Environmental Auditing


• Asset Performance Management


• Predictive Maintenance


• Others

Data Historian End User Outlook

• Oil and Gas


• Marine,


• Chemicals and pharmaceuticals


• Paper and pulp


• Metals and mining


• Utilities


• Data centers


• others

Data Historian Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America