As the Internet of Things (IoT) continues to grow, with IDC predicting that the market will hit $7.1 trillion by 2020, Savi believes so too will the use of sensor technology. Here are two predictions on why sensor technology will be important in 2015:
2015 will be the First Year the Global Volume of Sensor Data Exceeds that of PC Data
In this year’s State of the Internet address, Mary Meeker stated the “biggest re-imagination of all” will be around sensors. Anyone with a smartphone has 7-10 sensors in their pocket at any given time collecting data (the launch of the iPhone 6 will put additional sensors in the hands or 2.5 million people everyday). Every time you badge in at work you use a sensor. Every time you check out at the supermarket you use a sensor to scan everything you buy. If you own a car made after 1996 it is ODBC II-compliant to transfer data from hundreds of sensors to your dashboard, mechanic or insurance company. Put this together with the fact that our Digital Universe is growing at 50% per year and 2015 will be the year that sensor data surpasses PC data. It will not be long before sensor data surpasses enterprise data as well. What does this mean? Those who can understand sensor data will have the ability to know what is happening, any time, any place, almost as if they were there watching.
The Amount of Global Sensor Data will Cross Three Zettabytes in 2015
Industry predictions show that global data volumes are set to hit a record 44 zettabytes by 2020, meaning that we’re launching at a rapid speed into the Zettabyte Age. This means we’re in for a Cambrian-like technology explosion in the near future to get us to that point. To put this into perspective, think of Facebook acquiring enough data for 3.17 trillion users (based on Facebook’s current data warehouse of 0.3% of 1 Zettabyte for its 1 Billion users) – that’s 400 times the world’s current population. To face this data tsunami, companies will need to look for new ways to manage it by innovating their capabilities in collecting, storing and analyzing business-critical information. Those that can figure out how to harness that information to make strategic decisions will have a competitive advantage in 2015 and beyond as first movers and early adopters in sensor data analytics.