PUBLISHER: Mind Commerce | PRODUCT CODE: 1212747
PUBLISHER: Mind Commerce | PRODUCT CODE: 1212747
This report evaluates the market for IoT data management and analytics. The report analyzes key challenges and opportunities such as managing IoT data based on ownership, care of custody, and usage rights. It assesses the opportunity for IoT data as a service and IoT-driven decisions as a service. It includes forecasts by technology, infrastructure, applications and services for both static and real-time data from 2023 through 2028.
The report also evaluates substantial market opportunities involving IoT data collection, storage, analytics and visualization. It identifies how real-time, streaming data IoT business data becomes highly valuable when it can be put into context and processes as it will facilitate completely new product and service offerings. For example, over 40% of the operational value of IoT is extracting and monetizing unstructured data
Industrial IoT (IIoT) and enterprise IoT deployments in particular will generate a substantial amount of data, most of which will be of the unstructured variety, requiring next-generation data analytics tools and techniques. For example, manufacturing processes produce vast amounts of machine-generated data, most of which is unstructured and from disparate sources and formats.
Accordingly, there is a need for uniform data management processes and the use of big data analytics tools and techniques. While much of this data will be very useful for longer-term analytics, significant value will be realized from real-time processing such as centralized versus distributed manufacturing decisions.
It is important to recognize that intelligence within IoT networks is not inherent but rather must be carefully planned. IoT market elements will be found embedded within software programs, chipsets, and platforms as well as human-facing devices, which may rely upon a combination of local and cloud-based intelligence.
Just like the human nervous system, IoT networks will have both autonomic and cognitive functional components that provide intelligent control as well as nervous system-like end-points that provide signaling (detection and triggering of communications) and connectivity. Each of these system components are sources of potentially useful data, which must be analyzed to determine if useful information may be realized.
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