Growing Trend of Edge Computing to Surge Analytics Tools Demand
The number of connected IoT devices is increasing due to the growing adoption of the Internet of things (IoT), artificial intelligence (AI), and machine learning (ML) algorithms. According to IDC data, 152,200 IoT devices will connect every minute by 2025. The growing demand for connected devices is boosting the implementation of edge computing. Edge computing solutions are defined as a framework wherein processors are located closer to the source or destination for data rather than clouds.
Data stored close to source or destination saves time for data upload on cloud or on-premises and lowers the load on servers and network. With the capability to method data in real-time and quicker response time, edge computing is particularly applicable to Industrial IoT. For instance,
Thus, the growing shift towards edge computing to further boost database quantity is expected to fuel the future opportunities of this market.
Rising Database across Industries to Boost Market Growth
Rising digital solutions across industries such as education, banking, retail, agriculture, healthcare, IT and telecommunications worldwide are exponentially increasing data. For instance, artificial intelligence brings a revolutionary change in precision farming, risk management, and pest control in the agriculture sector.
Sensors, smart machines, GPS-equipped tractors, and soil sensors generate a huge volume of structured and unstructured data. To analyze huge data sets such as natural trends, advanced supply tracks, ideal crops, risk assessment and more, big data and business analytics are being implemented in agriculture.
Similarly, businesses are implementing bots to modernize and automate the work environment. Further, virtual assistance like Amazon Alexa, Apple's Siri and Google Assistants generates huge data. For instance, as per the Statista report published in January 2021, the number of digital voice assistants is expected to reach 8.2 billion. Advancement in network connectivity and smartphone technology accelerated the growth of social media users worldwide.A huge volume of data is generated from YouTube videos, Snapchat, Facebook, Instagram, WhatsApp chats, and others. Thus, with technological advancement in industries, increasing social media platforms, and adopting smart applications, the industrial revolution is expected to generate huge databases. This rising database is likely to drive the big data analytics market statistics.