Skip to main content

How IoT Analytics will Reach $5.7 Billion in 2015

In the coming years, the deluge of data from internet connected sensors and other devices will be significant. The revenues generated from integrating, storing, analyzing, and presenting Internet of Things (IoT) data will reach $5.7 billion in 2015, according the the latest global market study by ABI Research.

In the next 5 years, ABI believes that the market will expand dramatically, to an extent that in 2020 it's estimated to account for nearly one-third of all big data and analytics revenues.

"About 60 percent of this year’s revenues come from three key areas -- energy management, security management, as well as monitoring and status applications," said Aapo Markkanen, principal analyst at ABI Research.

Within these segments, there are analytic applications that reduce the cost base of asset-intensive operations (condition-based maintenance), automate routine workflows (surveillance), or even enable new business models (usage-based insurance).

According to ABI's assessment, these early growth drivers also have in common the fact that the economics of IoT connectivity align easily enough with the requirements of analytic modelling.

Making sense of IoT-kind data from machines and sensors data comes often with its unique challenges, such as the need for time-series databases in storage, and for relatively deep domain expertise in analysis.

These kinds of factors create a certain mismatch with many leading technologies that have been designed for more traditional, digital-first analytic environments. This, in turn, is attracting the growth of start-up level activity -- aimed at filling the apparent gaps in the market.

ABI says what's truly remarkable about this market is how much of the innovation actually comes from new start-ups. Take, for instance, the ParStream geo-distributed architecture, the Cyberlightning 3D visualization technology, or the Peaxy work on software-defined data access.

All three address some of the problems that usually come up in discussions with end-users. Meanwhile, of the more incumbent vendors likes of Datawatch, Informatica, Software AG, and Splunk seem well-positioned to seize the emerging IoT big data opportunity.

Popular posts from this blog

Linux Phone Standards Forum

A new Linux Phone Standards Forum (LiPS) has been founded to promote mass market adoption of Linux telephony terminals through standardization, interoperability testing and market education. The founding members include Cellon, France Telecom, FTM Labs, Huawei, Jaluna, Mizi, Open Plug and PalmSource. LiPS will support device manufacturers and operators in bringing to market Linux-based devices at lower cost (due to lower deployment costs through standardization), while facilitating the programming and development process for software and silicon vendors. The Forum said plans to work with other organizations such as the OMTP and OMA to identify requirements of distinct device categories including smartphones, feature phones, fixed-line, or converged devices. For each of these categories, or profiles, LiPS will define standard API�s that support relevant applications and services as well as a certification process for technology providers. In keeping with the open source philosophy, L

Cloud Services Gain New Momentum in Europe

Across European nations, more CIOs and CTOs are investing in public cloud services that become the essential foundation for the design and delivery of innovative digital transformation projects. Public cloud computing spending in Europe will reach $113 billion in 2022 and will double to $239 billion by 2026, growing at a 22 percent 5-year CAGR, according to the latest market study by International Data Corporation (IDC). Investments in Software-as-a-Service (SaaS) will continue to lead most of the spending in Public Cloud in Europe in 2022, but Platform-as-a-Service (PaaS) will be the fastest-growing segment. In fact, PaaS enables digital business deployment via the quick testing and production of new software applications. Public Cloud Market Development Professional services, banking, and discrete manufacturing will be among the top spenders in public cloud services, absorbing almost 60 percent of the overall public cloud services spend in 2022.  Human-centric industries are adjustin

Strategic Digital Transformation Spending Trends

Looking ahead, many Chief Executive Officers (CEOs) continue to selectively invest in new strategic digital transformation projects that enable a significant competitive advantage. Some additional investments may go towards improving existing IT infrastructure and operations.  Worldwide IT spending is now projected to total $4.5 trillion in 2022 -- that's an increase of 3 percent from 2021, according to the latest updated estimate by Gartner. For now, most CIOs will be relieved that their budget is safe from major cuts. While IT spending is expected to grow in 2022, it will be at a slower pace than in 2021 -- partly due to a 5 percent cutback on spending for personal computers, media tablets, and printers. Digital Transformation Market Development "Central banks around the world are focusing on fighting inflation, with overall inflation rates expected to be reduced through the end of 2023. However, the current levels of volatility being seen in both inflation and currency exch