Machine-to-machine (M2M) analytics industry will grow a robust 53.1 percent from US$1.9 billion in 2013 to US$14.3 billion in 2018, says a new research 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.
Analytics will play a critical role in the evolution of M2M, serving as the foundation for an increasing number of M2M business cases, the report said. 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.
At the moment, most enterprises with relevant data assets are trying to migrate from descriptive and diagnostic insights to predictive analytics. Mastering the predictive phase could then ultimately lead to the final, prescriptive phase of analytics.
According to ABI Research, predictive analytics is becoming one of the hottest areas in the M2M value chain. SAP and IBM are performing well in this space while newer firms like Splunk are capable of developing into a true Internet of Things powerhouse if it plays its cards right.
Other companies to watch in this space include Mtell and Grok, ABI Research said.