Open source project in IT infrastructure and its shifts are increasing the urgency of rethinking business, programs, investment, and strategies. Diving into the morden IT infrastructure from the time series database that we are dedicated to is a good kick off.
This article is only a personal opinion, please bear with meif there is any bias
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Time Series Databases market size trends
1.What is TSDB market trend?
The DB-Engines Ranking is a list of DBMS (Database management systems) ranked by their current popularity. The list is updated monthly. The following chart 1 shows the historical trend of categories’ popularity from April 2020 to June 2022. From the chart, the popularity of TSDBs has been outperforming the categories since April 2020 and keeps showing soaring momentum.
Chart 1.historical trend of DBMS categories’ popularity
source: DB-Engines
According to the chart 2, InfluxDB is, by far, the most popular and most used time-series database in the world.
Chart 2.DB-Engines Ranking of Time Series DBMS
Source: DB-Engines
The InfluxDB is a time series database from InfluxData headquartered in San Francisco. InfluxDB is designed to provide real-time visibility into stacks, sensors and systems, empowering developers and organisations to build real-time IoT.However, Influxdb has some weaknesses. 1) High-cardinality datasets are a significant weakness for InfluxDB. This is because of how the InfluxDB developers have architected their system, starting with their Time-series Index. 2)Writing and reading is not as effiency as it was. With cloud data centres handling 94% of all workloads1, users need fast, agile, scalable and stable cloud solutions over the long term. This is where cloud-native technology comes in. The requirement of storage management gets restricted, given the inevitable cloud-native tendency, so the efficiency of write and read brought by using mmap on local disk cannot be kept after cloudization. Because of that, new storage engine, IOx, is in active development and aiming to handle with mass data and diversified user scenario.Open source projects and startups have many of the same goals as other tech projects. They all want to find ways to handle bigger data streams with more complicated analytics that are run in more efficient silos — bigger, faster, smarter, and cheaper. For the Chinese market, CnosDB, IoTDB and TDengine are dedicated to leverage open source products and communities to address the challenges facing to the global competitors.
2.Is TSDB in a niche market?
Time series databases in recent years have become the fastest growing database segment, concurrent with the rapid growth of IoT, big data, and artificial intelligence technologies, all of which require the processing and analysis of vast volumes of time series data at a high ingestion rate.Analysing market needs is a basic way to take a glance at the time series database market. Three key needs drive the market size and development: 1) The amount of IoT devices;2) The amount of sensors device; 3) The Pricing. Illustrated by the data from Statista, the amount of IoT devices globally would stand at 75 billion. Assuming 10 sensors are installed on per device averagely, 750 billion sensors would be needed upon that time. Undoubtedly, both IoT devices and sensors are dramatically increasing.From the pricing aspect, average charge is around $0.14/sensor. With fierce competition, even the price would decrease, maybe $0.02/sensor, it is still a multi-billion market. This estimation might be rigorous, but that points out a direction of market growth.
3. TSDB usage scenarios
Medical sensors, autonomous vehicles, financial fluctuations, your refrigerator… These days anything can be connected, and the data flow can be astronomical. When you’re wrestling with near infinite data, a time series database, a time series database will help you make sense out of chaos. A typical market is for IoT where remote devices are continually capturing metrics for analytical purposes
For now, it would seem all boats are rising on a tide of interest in the market segment, as IoT and IIoT interest and deployments continue to grow. While it’s been interesting, it’s likely only the beginning of what promises to be a wild race, with multi-billion dollar prizes at stake.
