Dan's Biz Bookshelf: 'Getting Naked: A Business Fable'
The Chemical Connection: Common Misconceptions in Wet Processing
It’s Only Common Sense: Selling to Engineers
IoT Analytics Market Revenue to Top $30B by 2021
June 6, 2016 | ABI ResearchEstimated reading time: 1 minute
One of the greatest IoT market challenges for enterprises is how to manage, track, and analyze all of their data. ABI Research forecasts global revenues from the integration, storage, analysis, and presentation of IoT data to triple over the forecast period and top US$30 billion in 2021, with a 29.4% CAGR.
“Descriptive analytics currently generate more than 75% of IoT analytics revenue,” says Ryan Martin, Senior Analyst at ABI Research. “But over the next five years, rapid uptake of advanced analytics will overtake descriptive analytics’ share of revenue to the extent that predictive and prescriptive analytics will account for more than 60% of IoT analytics revenue by 2021.”
The general shift from batch to event-based processing signals a growing interest in real-time/streaming analytics as a lever for IoT value creation. ABI Research data analysis suggests that early adoption of predictive and prescriptive analytics is occurring in more developed, mature M2M/IoT verticals. Growth is specifically targeting asset-intensive industries in which machinery cost is high, such as within the industrial, manufacturing, field, oil, and gas sectors.
“The need to harmonize IoT ecosystem components without creating or simply shifting the bottlenecks that come with the management of high-velocity variable data puts pressure on connectivity providers, edge analytics platform players, and system integrators to stand up new and distributed frameworks,” concludes Martin. “The purpose of these frameworks is to not only support and add value to data, but to also be able to do so at any level.”
Major investments from companies like Cisco, Dell, GE, IBM, Microsoft, PTC, and SAP, as well as a flurry of startup-level vendors like Blue Yonder, mnubo, Mtell, Predixion, and Seeq, further underscores the momentum and importance of analytics in IoT.
About ABI Research
For more than 25 years, ABI Research has stood at the forefront of technology market intelligence, partnering with innovative business leaders to implement informed, transformative technology decisions. The company employs a global team of senior analysts to provide comprehensive research and consulting services through deep quantitative forecasts, qualitative analyses and teardown services. An industry pioneer, ABI Research is proactive in its approach, frequently uncovering ground-breaking business cycles ahead of the curve and publishing research 18 to 36 months in advance of other organizations. In all, the company covers more than 60 services, spanning 11 technology sectors.
Share on:
Suggested Items
Intervala Hosts Employee Car and Motorcycle Show, Benefit Nonprofits
08/27/2024 | IntervalaIntervala hosted an employee car and motorcycle show, aptly named the Vala-Cruise and it was a roaring success! Employees had the chance to show off their prized wheels, and it was incredible to see the variety and passion on display.
KIC Honored with IPC Recognition for 25 Years of Membership and Contributions to Electronics Manufacturing Industry
06/24/2024 | KICKIC, a renowned pioneer in thermal process and temperature measurement solutions for electronics manufacturing, is proud to announce that it has been recognized by IPC for 25 years of membership and significant contributions to electronics manufacturing.
Boeing Starliner Spacecraft Completes Successful Crewed Docking with International Space Station
06/07/2024 | BoeingNASA astronauts Barry "Butch" Wilmore and Sunita "Suni" Williams successfully docked Boeing's Starliner spacecraft to the International Space Station (ISS), about 26 hours after launching from Cape Canaveral Space Force Station.
KIC’s Miles Moreau to Present Profiling Basics and Best Practices at SMTA Wisconsin Chapter PCBA Profile Workshop
01/25/2024 | KICKIC, a renowned pioneer in thermal process and temperature measurement solutions for electronics manufacturing, announces that Miles Moreau, General Manager, will be a featured speaker at the SMTA Wisconsin Chapter In-Person PCBA Profile Workshop.
The Drive Toward UHDI and Substrates
09/20/2023 | I-Connect007 Editorial TeamPanasonic’s Darren Hitchcock spoke with the I-Connect007 Editorial Team on the complexities of moving toward ultra HDI manufacturing. As we learn in this conversation, the number of shifting constraints relative to traditional PCB fabrication is quite large and can sometimes conflict with each other.