As a newer, emerging sector within information and communications technologies the currency of big data and data analytics has never been hotter.
Closely associated with Business and Artificial Intelligence and analytics, there is ever-increasing interest within retail, industry and technology investment circles as more efficient automated data collection and collation systems demand attention.
And in a post-COVID world where business, government and industry concerns are seeking to gain greater understanding of shifting behavioural patterns in real world situations, in real time we are on the verge of new market trends.
The statistics and projections are remarkable.
- AI presence detection global market worth 160b US.
- Big Data, Analytics Sales Will Reach $187 Billion By 2022.
- Forecasts of a 50% increase in revenues from the sale of big data and business analytics software, hardware, and services 2019 onwards.
- Perhaps most significant according to an Accenture study, 79% of enterprise executives agree that companies that do not embrace Big Data will lose their competitive position and could face extinction.
- Even more, 83%, have pursued Big Data projects to seize a competitive edge.
Through its proprietary presence detection and location intelligence Foresense Technologies is a major player in the fields of big data, presence detection and location intelligence.
Foresense is well-positioned to take full advantage of the current market investment opportunities and capitalise on heightened product demand as information about how people act and interact in physical spaces in an age of physical distancing presents a whole new paradigm in retail and industry.