Mary-Louise Hoffman
A Research and Markets report forecasts the global market for Internet of Things analytics technology will rise in value to $16.4 billion by 2020 at a compound annual growth rate of 27.4 percent.
The research firm said Thursday that many technology vendors are developing analytics offerings for IoT as more organizations invest in the platform.
Companies offer platform as a service and products designed to analyze sensor data in an effort to help enterprise clients turn insights into action and make decisions in real time, the report states.
Research and Markets also believes the on-premise use of IoT analytics tools and services presents a business opportunity for new and small technology firms.
The report cited Accenture, Capgemini, IBM, Intel, SAP, AGT International, Mnubo, Nokia Networks and Thingworx as the market’s key players.
