The Global Market for Big Data Technologies and Services is Projected to Reach $60 Billion by 2022

The global market for Data Historian is projected to reach US$1.1 billion by 2025, driven by the rise of industrial big data and the growing importance of storing process data for time-series analysis to extract phenomena like long-term trends, cyclical fluctuations and anomalies. With modern businesses operating in data-intensive environments, data is at the core of about every vital business decision. Data volumes are increasing at an alarming rate with organizations becoming more scattered and large number of sensors being used. Consolidating and managing the large amount of industrial big data derived from various devices, systems and applications has become a major challenge for industries. On the other hand, rapid expansion of businesses has further increased the need for precise information to make accurate decisions. Growing in popularity under this scenario is data historian also called as operational historian or process historian, and defined as an intelligent software program which captures and retrieves production as well as process data by time and stores data in a time series database. Few of the benefits that strengthen the business case for data historian include  high speed data acquisition; 50x data compression;  reduced storage space;  effective in capturing plant IoT data; complete capture of plant operating data; enables complex event processing; query interfaces that feed into enterprise BI pipes; quicker and informed decision making; and ensures business continuing and disaster recovery. Read More…