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IoT Data Management Services are Expected to Reach US$42.9 Billion by 2026

Vendors are branching into industry-driven solutions vs holistic-horizontal platforms

ABI Research  www.abiresearch.com (PRNewsFoto/ABI Research) (PRNewsfoto/ABI Research)

News provided by

ABI Research

Jul 29, 2020, 04:00 ET

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LONDON, July 29, 2020 /PRNewswire/ -- As the IoT data-enabled services continue to expand, the market is approaching the stage of data democratization, where real-time analytics is very sought after. Currently, data integration, real-time stream processing, and analytics services are falling under the umbrella of Data Management services within the IoT value chain, where each component has also seen economic growth. Global tech market advisory firm, ABI Research, estimates that IoT Data Management services are a rapidly growing market, with expected growth from US$10.1 billion in 2020 to US$42.9 billion by 2026.

The emergence of stream processing and analytics solutions provided the impetus for data-enabled decision making and insights for enterprises.  Ultimately, there are two supplier groups dominating the discussion of stream processing and analytics:  cloud-first and edge-first. Azure, AWS, IBM Microsoft, Cloudera, Informatica, Software AG Apama, and TIBCO are centering their data management services around the cloud-centric approach, which complements their already existing product and capabilities within full-stack end-to-end IoT portfolios. Other vendors, such as ScaleOut, Crosser, SWIM.ai., and ClearBlade, are serving the real-time streaming analytics market by bringing an edge-centric approach and teaming up with cloud vendors to deliver industry-specific data management applications.

"Edge vendors are expanding their Streaming as a Service (SaaS) offering toward hardware-agnostic systems. The embedded event streaming and ingestion capabilities packaged as purpose-built, off-the-shelf SaaS has a pre-built application logic and an industry-specific "way" to handle data," says Kateryna Dubrova, Research Analyst at ABI Research. "Effectively, everyone is attempting to move from a service market to productized out-of-the-box SaaS in relation to streaming technologies." 

Interestingly, data management and streaming services have been deeply impacted by Apache Project open-source technologies, such as Spark and Flink. IBM, Confluent, Azure, and AWS have already adopted open-source technology into their IoT portfolio. "The adoption is largely driven by the cost incentive to reduce the capital investment for the end-users as well as appeal to enterprises with existing open-source legacy infrastructure. In contrast, companies like Striim, SWIM.ai Guavus are offering streaming analytics services only reliant on proprietary technology," Dubrova explains.

Additionally, by focusing on data management and streaming technologies, cloud vendors are ceding the advanced analytics market to other suppliers. "Hence, the advanced analytics market is an excellent example of the "coopetition" in the IoT ecosystem, where cloud vendors are partnering with advanced analytics suppliers.  This coopetition enables them to promote an end-to-end IoT technology stack; for example, Azure and AWS have partnered with Seeq to leverage its advanced analytics capabilities," says Dubrova. At the same time, other vendors, such as Oracle, Cisco, and Huawei, are pushing intelligence and analytics closer to the devices, expanding their edge portfolio. Such divergent analytics strategies represent the reality and challenges for serving a very diverse IoT ecosystem with IoT data-enabled services. 

"Essentially, the vendors are branching into industry-driven solutions, and holistic-horizontal platforms with vertical enabled applications, all and all, the competitive market landscape remains in a state of flux. Subsequently, it is vital to understand each vendor offering and placement in the IoT analytics value chain to gain insight into the competitive landscape for real-time streaming and analytics solutions," Dubrova concludes.

These findings are from ABI Research's Business Intelligence 2.0: IoT Stream Processing, Analytics, and Data Management Services application analysis report. This report is part of the company's M2M, IoT & IoE research service, which includes research, data, and analyst insights. Application Analysis reports present an in-depth analysis of key market trends and factors for a specific technology.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research's global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research提供开创性的研究和战略指导,帮助客户了解日新月异的技术。 自1990年以来,我们已与全球数百个领先的技术品牌,尖端公司,具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info:

Global  
Deborah Petrara          
Tel: +1.516.624.2558 
[email protected]    

SOURCE ABI Research

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