$1.1T market opportunity: invest in the fastest-growing type of database now
Worldwide spending on software and hardware around the Internet of Things (IoT) is projected to grow rapidly to $1.1 trillion in 2023. In order to understand how to take advantage of the exploding market, investors need to think about the implications of this fast growth. Devices from the IoT are proliferating, and they’re often designed to rely on a central service for analysis and presentation. What can handle endless streams of data? The time-series database. TSDBs are specially designed to support the ingestion, storage, and analysis of time series-data.
Last year, it was the fastest-growing type of database in the enterprise, largely because of the growing number of use cases for it. After all, time-series data is a sequence of data points collected over time, giving you the ability to track changes over that period — and that’s what you need to do if you’re running sophisticated transactions like advertising, ecommerce, supply chain management, and more.
InfluxData is the undisputed leader in the time-series database space. It began as an open source project and is now available as either a standalone installation or an elastic serverless option from the InfluxDB Cloud. The company’s Flux query language simplifies tasks like computing the moving averages of the data stream. The language is functional and designed to be easily composable so queries can be built up from other queries.
InfluxData grew significantly in the past year across its cloud business, open source user base, and signed major new customers.
“We saw organizations, across the economy, moving quickly to digitize operations and build up their critical IT infrastructure, and much of that was driven by powerful open source projects like InfluxDB,” said Evan Kaplan, CEO of InfluxData. “This was especially true for IoT and data streaming use cases, which are based on time series data and have accelerated demand for high-quality and low-latency performance – where InfluxDB thrives.”
Rolls-Royce uses InfluxDB to improve operational efficiency at its industrial engine manufacturing facility. SunPower monitors energy production and sensor health on solar panels powering homes and businesses around the world. Zoom Video Communications will use InfluxDB to improve the reliability of video conferencing by ensuring there are no service disruptions or downtime. Disney is utilizing InfluxDB to monitor the infrastructure that is critical for delivering content to the quickly growing number of Disney+ customers across various devices.
Time series data is a collection of observations obtained through repeated measurements over time. This data is everywhere, since time is a constituent of everything that is observable. As our world gets increasingly instrumented, sensors and systems are constantly emitting a relentless stream of time series data, making time series the fastest-growing database category. The demand continues to climb across industry sectors, especially for the Internet of things and data streaming. The amount of data being produced each year is expected to grow nearly 3x from 2020 to 2025, and most of it is going to be time-stamped data. As the volumes of data grow, so do enterprise demands to get more value out of it.
The InfluxDB time series platform approach, with InfluxDB open source at the edge and InfluxDB Cloud at the core working together, is designed to deliver high performance, scalability, and agility in a way that uses resources efficiently and is not cost-prohibitive.
Kris Bort, founding partner of Sakal Ventures, says that companies like InfluxData guarantee outsized returns to investors, “This is a new investment opportunity we are offering our limited partners. Late-stage investing is very rewarding but the key is to avoid investing in companies or sectors that basically have no more room for growth. InfluxData will grow exponentially, because time-stamped data will grow exponentially. Understanding how to cut risk by being a late-stage private investor is very important, but you also have to know what industries and companies have the potential to rise from $1-5B valuation to $10-100B. This is what separates the average investor from the best!”
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