As Internet of Things (IoT) becomes widespread, storage of data collected from connected devices becomes very vital for enterprises seeking to gain operational and business insights from them to create new business opportunities, according to IDC.
The IT research firm predicts that by 2025 there will be 55.9B connected devices worldwide, 75% of which will be connected to an IoT platform.
IDC estimates data generated from connected IoT devices to be 79.4 ZB by 2025, growing from 13.6 ZB in 2019. Most of this data arises from security and video surveillance, but Industrial IoT applications will also take a significant portion of this data.
“While IoT is becoming an acceptable term across various application areas, managing and archiving of the data generated from the connected devices is a critical success factor for the industries,” said Abhishek Mukherjee, senior market analyst for telecommunications and IoT at IDC Asia/Pacific.
This is the major takeaway from IDC’s latest report entitled Business Models for the Long-Term Storage of Internet of Things Use Case Data, which shows how generated data expanded across a multitude of IoT devices – deployed across various industry verticals – and how their respective use cases can be managed and archived.
“Based on the criticality of data to the application/use-case, redundancy, and granularity of information generated from the connected devices, decision towards level of compression and timelines for storage are decided and implementing the security and governance policies around the storage,” Mukherjee said.
Based on the assets across different use cases of IoT, IDC has designed a model which considers the level of redundancy and need for short-term or long-term storage. It is projected that Permanent storage requirements for 4K video data will reach 26,680 exabytes across connected assets in Asia/Pacific* by 2025, growing at a 5-year compound annual growth rate of 23.2%.
Meanwhile, other key highlights of the report are:
- Application area, asset type, use-cases, and level/ frequency of access and redundancy in the data are key consideration areas for selecting the appropriate storage solution for long-term and short-term storage of data.
- While technical aspects translate to the adequate storage requirements, the report also emphasises upon how Governance, Risk and Compliance policies are implemented in these storage solutions for long term storage of the data.