A data historian solution helps in recording data that is acquired during a process, and retrieves it in time. In other words, data historian software can store data efficiently with low disk storage requirement and fast retrieval. This software is used in many applications for datacenters, chemical plants, automobiles, pharmaceutical manufacturing, water management, paper and pulp, and oil and gas, among others. A major application of data historian software is in oil and gas companies, who use the predictive maintenance capabilities of data historian solutions.
As per a report by PMR, the global data historian market generated a market revenue of US 1.1 Bn in 2019, and is expected to expand at a healthy CAGR of nearly 8% over the forecast period (2020-2030).
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Key Takeaways from Data Historian Market Study
- South Asia & Pacific is expected to create lucrative growth opportunities for players in the data historian market, attributable to rapid growth of automobile and manufacturing industries in the region.
- Growing demand for consolidated data for process and performance improvement is creating new growth opportunities for data historian software and service providers.
- Key players in the data historian market are focusing on acquisitions to complement their product portfolios, to cater to the needs of a variety of customers. Market participants are also focusing on providing products directly to end users to improve direct customer relations.
- Amidst the COVID-19 pandemic, the data historian market is anticipated to grow 7% – 7.5% in 2020.
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Hyper Historian Software to Boost Market Growth
Growing development of hyper historian software helps implement various features in data historian software – robust, high-performance, and scalable. It is designed for the most mission critical applications demanding the highest level of availability, high compression, and low CPU and memory usage.
- For instance, in November 2019, ICONICS, Inc. launched Hyper Historian Version 10.96 with multiple features and benefits such as new data exporter, improved logging, AssetWorX Integration, and others.
Development of such advanced hyper historian software is expected to increase opportunities for the data historian market space.
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