The machine-to-machine analytics industry will grow 53 percent over the next five years, from $1.9 billion in 2013 to $14.3 billion in 2018, according to a new study from ABI Research.
The forecast includes revenue segmentation for the five components that together enable analytics to be used in M2M services: data integration, data storage, core analytics, data presentation and associated professional services, ABI says.
“Analytics will play a critical role in the evolution of M2M, serving as the foundation for an increasing number of M2M business cases,” Aapo Markkanen, senior analyst at ABI Research, said in a statement. “In essence, such analytics-driven business cases will be about making previously opaque physical assets part of the digital data universe. M2M has thus a very synergetic relationship with the wider big data space, with growth in one industry driving also growth in the other.”
The actual value of M2M data can vary greatly by the depth of delivered analysis, ABI notes. Currently, most enterprises with relevant data assets are trying to migrate from descriptive and diagnostic insights to predictive analytics, it says, and mastering the predictive phase could then ultimately lead to the final, prescriptive phase of analytics.
“Predictive analytics is becoming one of the hottest areas in the M2M value chain,” Dan Shey, practice director at ABI, said in a statement.
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