US multinational technology company Cisco has announced its acquisition of German IoT analytics platform provider ParStream.
ParStream produces an analytics database for Internet of Things environments, allowing companies to analyse large amounts of data and store it anywhere in the network.
The ParStream database can reportedly filter billion of records, enabling customers to compute and analyse large amounts of data at the network edge in near real time, according to trade publication Network World.
The database uses compression and indexing capabilities that offer significant storage savings, increases data centre density, allows more data to be kept and increases query performance in cases where I/O (input/output) is the bottleneck. Data indexing specifically improves the speed of data retrieval operations.
Cisco stated that the ParStream analytics database allows companies to store data at the edge of the network, closer to the source and track results across a distributed network.
Commenting on the acquisition, Cisco said that it complements its current data and analytics portfolio and improves its ability to provide analytics at the edge of the network, where data is generated in large volumes.
Cologne-based ParStream is also part of Cisco’s Entrepreneurs in Residence startup programme.
Cisco’s startup initiative is a six-month incubation programme, supporting early-stage, product in IoT, smart cities, big data and analytics, as well as enterprise mobility and security.
ParStream will be joining Cisco’s Data and Analytics Group – with the acquisition expected to be finalised in the second quarter of Cisco’s fiscal year, ending in January 2016.
China's IoT market shows significant growth
In other IoT news, market research company ABI research has predicted that China's market for the Internet of Things will grow more than five times over the next five years.
The US-based firm has predicted that service revenues for IoT will grow to more than US$41 billion by 2020.
Commenting on China's fast-growing IoT market, Dan Shey, VP at ABI, said: "It leads all other segments in both connections and revenues. In fact, by 2020, smart meter connections will exceed the next highest market segments in total connections by nearly 10 to one.”
Mr Shey explained that China's smart meter market is the primary driver pushing IoT development in the country.
He added that data analytics will "underline the most IoT revenues in the country because of the volume of smart meter connections."