The next wave of Internet of Things (IoT) analytics will completely merge with the big data field. At the same time, value in the technology stack is shifting beyond hardware and middleware towards analytics and value-added services such as machine learning and artificial intelligence. According to the international consulting firm ABI Research, revenue in the segment of machine learning and artificial intelligence for IoT in the coming years will grow by almost 40% per year and in 2026 will reach 3.6 billion dollars.
The COVID-19 pandemic has prompted many industries to move to “everything remotely” – ready-made solutions for remote monitoring, asset management, asset visibility and preventive maintenance are in high demand and are driving the market faster. Vendors simplify access to machine learning and artificial intelligence tools with a variety of deployment options at the edge, on-premises and in the cloud, as well as offering platforms as a service (PaaS) and software as a service (SaaS). Overall, the COVID-19 pandemic has highlighted the importance of rapid deployment solutions such as the SaaS hardware-independent approach.