Skip to main content

More Organizations Seek Holistic IoT Analytic Solutions

Enterprise applications for big data continues to gain momentum across the globe. Moreover, cognitive computing and cloud technologies are making it much easier to extract valuable insights from vast amounts of stored data. That insight is a key component of successful digital transformation projects.

The Internet of Things (IoT) analytics market is rapidly expanding from the cloud to the edge of the network as advances in compute capabilities -- and the lower cost of communications hardware -- unlock new opportunities to apply analytics closer to the thing where data is generated or collected.

According to the latest worldwide market study by ABI Research, the volume of data captured by IoT-connected devices will grow nearly six-fold over the forecast period and reach 2,000 exabytes (2.0 zettabytes­) in 2021.

IoT Data Analytics Market Development

Today, only a fraction of captured data is recorded at the endpoint for further processing or storage. The goal with edge analytics is to make better use of captured data to reduce critical issues in real-time and to improve predictive and prescriptive analytics models in the cloud.

"In the early days of IoT, the focus was on the connectivity of the devices rather than their intelligence," said Ryan Martin, senior analyst at ABI Research. "With edge analytics, organizations have access to a more granular degree of insight-generating data, which facilitates a system-level approach to improve operations and create new services."

Analytics produced at the edge -- and in the cloud -- offer value across the enterprise, as well as the supply chain, from product operations to OEM suppliers to R&D.

Companies such as Cisco, Dell, Intel, PTC, and Predixion Software (acquired by Greenwave Systems) deploy intelligence in IoT systems at three levels. The first level is the deepest and refers to endpoint devices capable of processing the information they gather.

The second level covers gateway devices that aggregate traffic and deliver commands to and from the endpoints. The third, or highest, level concerns the cloud or enterprise infrastructure to which the endpoints and/or gateways transmit data over a backhaul connection.

Outlook for IoT Analytics Growth

"Whether the intelligence of IoT systems and subsystems should reside at the cloud or at the edge is one of the most critical questions in the industry," concludes Martin.

The heterogeneity of machines, sensors, and connected equipment necessitates that various actors and their analytics solutions work in harmony to maximize business value.

Popular posts from this blog

Digital Talent Demand Exceeds Supply in Asia-Pac

Even the savviest CEO's desire for a digital transformation advantage has to face the global market reality -- there simply isn't enough skilled and experienced talent available to meet demand. According to the latest market study by IDC, around 60-80 percent of Asia-Pacific (AP) organizations find it "difficult" or "extremely difficult" to fill many IT roles -- including cybersecurity, software development, and data insight professionals. Major consequences of the skills shortage are increased workload on remaining digital business and IT employees, increased security risks, and loss of "hard-to-replace" critical transformation knowledge. Digital Business Talent Market Development Although big tech companies' layoffs are making headlines, they are not representative of the overall global marketplace. Ongoing difficulty to fill key practitioner vacancies is still among the top issues faced by leaders across industries. "Skills are difficul

Mobile Device Market Still Awaiting Recovery

The mobile devices market has experienced three years of unpredictable demand. The global pandemic, geopolitical pressures, supply chain issues, and macroeconomic headwinds have hindered the sector's consistent growth potential. This extremely challenging environment has dramatically affected both demand and supply chains. It has led to subsequent inflationary pressures, leading to a worsening global cost of living crisis suppressing growth and confidence in the sector. In tandem, mobile device industry stakeholders have become more cautious triggering market uncertainties. Mobile Device Market Development Operating under such a backdrop, the development of mobile device ecosystems and vendor landscapes have been impacted severely. Many of these market pressures persisted throughout 2022 and now into 2023, borne chiefly by the smartphone market. According to the latest worldwide market study by ABI Research, worldwide smartphone shipments in 2022 declined 9.6 percent Year-over-Year

Global Digital Business and IT Consulting Outlook

Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth