IoT Data Management Market to Reach $66.4 Billion by 2022

The IoT data management market is gaining traction, due to widespread adoption of end-to-end data management platforms for capitalizing IoT data


Internet of Things

The "Internet of Things (IoT) Data Management Market - Global forecast to 2022" report has been added to Research and Markets' offering.

This report forecasts the global IoT data management market size to grow from USD 27.54 Billion in 2017 to USD 66.44 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.3%.

The IoT data management market is segmented on the basis of components (solutions and services), deployment types, organization size, application areas, and regions. The solutions segment is segmented into data integration, data analytics and visualization, metadata management, data security, data migration, and others (data governance, data quality, and data orchestration).

The metadata management solution is expected to grow at the highest CAGR during the forecast period, as enterprises need to continuously manage the data generated by sensor types, functions, locations, manufacturers, and serial numbers. Metadata management also includes the searching of the interpreted data, attributes, types, owner information, and reading values. It is helpful for viewing device IDs, life cycle status, permissions, sensor readings, and forecasts.

The services segment is segmented into managed, consulting, and support and maintenance services. The deployment type segment is categorized into public cloud, private cloud, and hybrid cloud. The organization size segment is categorized into Small and Medium-sized Enterprises (SMEs) and large enterprises. The application area segment is categorized into smart energy and utilities, smart manufacturing, building and home automation, smart healthcare, smart retail, smart mobility and transportation, connected logistics, and others (connected agriculture, media and entertainment, and smart education).

The IoT data management market is gaining traction, due to widespread adoption of end-to-end data management platforms for capitalizing IoT data more efficiently and flexibly across organizations. The major factors driving the growth of the market include the modernization of data warehouse architecture, increasing adoption of data encryption for IoT device security, and rising need for data security and data traffic management. Opportunities such as the adoption of mature content models in enterprises, emerging unified metadata services, and efficient processes for increased Return on Investment (ROI) have boosted the adoption rate of IoT data management solutions.

The trending technologies, such as data analytics, blockchain, machine learning, and artificial intelligence, play a vital role in IoT data management. These technologies enable an enterprise to manage and share data with ease, remove single points of failure, and reduce costs. The emerging semantic interoperability of IoT data management solutions enables the interpretation and integration of large volumes of data formats using meta-tagged data.

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