The growth of devices with internet protocol (IP) capabilities will generate a boom in big data and analytics revenue.
That’s the prediction from ABI Research which said in a report that integrating, analysing and storing data from the internet of things (IoT) will be worth as much as $5.7 billion this year.
That figure will expand over the next five years and represent a third of all big data and analytics revenues, the research outfit predicts.
Analyst Aapo Markkanen said that trying to make sense of data from machines and sensors has its own challenges, including deep domain expertise in analysis and time series databases held in storage.
That is leading to the birth of many startups aiming to exploit a gap in the market.
Some existing vendors including Datawatch, Informatics, Software AG and Splunk are ready for the IoT world.