The Internet of Things (IoT) is one of the fastest growing technology trends in the world, with spending projected to increase by 20 percent year on year. As more smart devices become interconnected, the need for fast, scalable, secure IoT data storage has never been greater.
The installed base of IoT devices is expected to grow to 20 billion by 2020, driven by explosive uptake in the consumer and industrial sectors. IoT manufacturers, network providers, and data storage businesses must work closely together to provide the access, demand, and capacity for all the information these devices will generate.
The amount of data created is expected to exceed 40 trillion gigabytes by 2020, with 10 percent of that information generated by IoT devices. This exponential growth in data combines with ever more sophisticated devices and increasing consumer demands to create unique opportunities in the marketplace.
That’s why smart IoT manufacturers are choosing cloud database storage for their IoT needs.
Cloud-Based Data Storage for IoT is Secure and Resilient
With the huge focus on data breaches recently <link to Equifax piece when published>, it’s vital that all data is handled in a safe and secure way. This applies throughout the lifecycle of data — when it’s created, transmitted, stored, accessed, or archived. IoT providers need the peace of mind that comes from knowing any data created by their devices is properly encrypted and available only to authorized users.
Cloud-Based Data Storage for IoT is Instantly Scalable
With the predicted rise in IoT data needs, storage solutions have to keep up. As these solutions scale, they must continue to offer best-in-class performance, availability, and access speeds. Onsite data storage has a significant lag time between being needed and being delivered. Cloud-based data storage for IoT is available on demand and can flex as demand changes.
Building Out Bespoke IoT Data Storage is Expensive and Time-Consuming
Fast, secure, and resilient data storage isn’t a core competency of IoT manufacturers. It’s expensive and difficult to build infinitely scalable, encrypted cloud storage for IoT. It makes sense for IoT manufacturers to outsource cloud storage to experts like Panoptex so they can access what they need, as they need it.
IoT Manufacturers Need to Focus on Their Core Business
It’s vital that IoT manufacturers get their strategy right. From consumer research through product and design and into launch, they should not be distracted by IoT data storage needs. Instead, they need to focus on the essence of what they do and on delivering best-in-class devices that meet user needs.
That’s why Panoptex offers OfxCloud™, a complete, secure, scalable, on-demand solution for all your IoT cloud storage needs.