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One of the primary drivers for the phenomenal growth in dynamic real-time data analytics today and in the coming decade is the Internet of Things (IoT) and its sibling the Industrial IoT (IIoT). trillion by 2030. trillion by 2030.”. One group has declared , “IoT companies will dominate the 2020s: Prepare your resume!”
One study forecasts that the market will be worth $23.8 billion by 2030. On the other hand, data lakes store from an extensive array of sources like real-time social media streams, Internet of Things devices, web app transactions, and user data. The market for data warehouses is booming.
Oxford Economics, a leader in global forecasting and quantitative analysis, teamed up with Huawei to develop a new approach to measuring the impact of digital technology on economic performance. The digital economy has become a key force for economic growth and social development.
through 2030. More recently, these systems have integrated advanced technologies like Internet of Things (IoT), artificial intelligence (AI) and machine learning (ML) to enable predictive analytics and real-time monitoring. As of 2022, the EAM market was valued at nearly $6 billion , with a compound annual growth rate of 16.9%
Predictive analytics integrates with NLP, ML and DL to enhance decision-making capabilities, extract insights, and use historical data to forecast future behavior, preferences and trends. billion by 2030. Conversational AI is also making significant strides in other industries such as education, insurance and travel.
In the energy and utilities sector, sustainability goals, such as Saudi Arabias Vision 2030 and UAEs Net Zero 2050, will drive investment in smart grids, renewable energy, and AI-driven energy efficiency solutions. Retail and E-commerce: AI will enable hyper-personalized shopping experiences, inventory management, and demand forecasting.
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