Global IoT Data Management Services To Reach $42.9 Billion By 2026: ABI Research

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  • The report also said that data management and streaming services have been deeply impacted by Apache Project open-source technologies
  • As per the report, by focusing on data management and streaming technologies, cloud vendors are ceding the advanced analytics market to other suppliers

The global IoT Data Management services will grow from $$10.1 billion in 2020 to $42.9 billion by 2026 as per a report by ABI Research. It said that presently, data integration, real-time stream processing, and analytics services are falling under the umbrella of Data Management services within the IoT value chain.

Kateryna Dubrova, Research Analyst at ABI Research said, “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. Effectively, everyone is attempting to move from a service market to productized out-of-the-box SaaS in relation to streaming technologies.”

The report also said that data management and streaming services have been deeply impacted by Apache Project open-source technologies. Dubrova explains, “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.”

Advanced analytics market

As per the report, by focusing on data management and streaming technologies, cloud vendors are ceding the advanced analytics market to other suppliers. Dubrova further adds, “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.”

Dubrova concludes, “Essentially, the vendors are branching into industry-driven solutions, and holistic-horizontal platforms with vertical enabled applications, all and all, the competitive market landscape remain 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.”

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