A silver lining, through the dark environmental clouds and stress events, is our ever growing data economy. Data is exploding, is more easily available, and is amenable to a multitude of tools to analyse, assess, predict, prevent, and prescribe action, increasingly in real-time. This surge in data will give rise to a new DATA-LED ECONOMY.
1 trillion connected “things”+ 6 billion data contributing consumers
= 175 Zettabytes of data by 2030
= 2/3rd machine-to-machine + 1/3rd human created
= 1/3rd real-time zero shelf-life data + 2/3rd storable
= Competence moving away from asset supremacy to the ability to initiate quick, ‘good enough’ corrective action
= Opportunities to sell equipment data for faster insights over competition + Edge analytics
= Trillions of dollars in data monetization business
Opportunities: personalized data for behavioural analysis and targeted ‘Segment of One’ marketing, machine-to-machine data exchange for self-evaluating and self-correcting equipment assemblies, zero-asset businesses based on data aggregation platforms, etc.
Technology Play: Big data analytics and AI on Cloud, Hyperscale data centers, Edge IoT and Edge analytics
Digital manufacturing, healthcare and retail will be biggest beneficiaries of the data economy. Read more in “Megatrends Shaping Future Tech Opportunities”.
For more on technology industry outlook and emerging technologies in 2020 and beyond, read our research on “Technology Sector in India 2020 – Techade the New Decade”.