ABI Research predicts that global revenues from the integration, storage, analysis and presentation of Internet of Things (IoT) data will grow at a compound annual growth rate (CAGR) of 29% through 2021, exceeding $30 billion by that time.
“Descriptive analytics currently generate more than 75% of IoT analytics revenue,” said 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.”
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