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IoT data analytics: turning data into actionable insights
IoT data analytics is an important driver of the GSMA Intelligence forecasts for global IoT revenues. The $1.1 trillion in total revenues forecast for 2025 reflects the growth in IoT connections and the expected demand for IoT data analytics, which will in turn spur demand for cloud, platforms and security. Currently, however, enterprises are using IoT data analytics in relatively simple ways. Our IoT Enterprise Survey reveals that current IoT deployments are using analytical tools for statistical analysis, data management and data discovery. The shift to use IoT data analytics for new business has not yet materialised.
This report shines light on how the IoT ecosystem can help enterprises widen their use of IoT data analytics to different use cases. It illustrates how enterprises are able to use IoT data analytics to achieve objectives beyond optimising operations and to create new business. It also examines three main influences – machine learning, data marketplaces and regulation – that will impact how quickly enterprises are able to use IoT data analytics to turn data into meaningful insights.