ANALYSIS OF DECENTRALIZED STORAGE SOLUTIONS FOR IOT DATA

Abstract

The current Global IoT Market size is estimated to be 310 Billion US$ and will grow to more than 2800 Billion US$ by 2030 [24]. By leveraging the power of IoT data, companies can produce valuable insights to drive business growth, improve operational efficiency, and enhance customer experience. However, IoT data present unique challenges like heterogeneity, large vol ume, noisiness, limited computational capabilities, and latency issues. While significant advancements have been made in IoT data storage and manage ment, the decentralized storage environment is still fresh and unstructured. The report tries to bring some structure by classifying available solutions un der a handful of classes depending upon the technology used and usage pros and cons. A comparative analysis has been performed among the classified solutions. In addition, the report tries to provide a decision framework to help choose the storage solution appropriate for a given application.