Beancounters at IDC have been adding up some numbers and dividing by their shoe size and decided that Big Data is going to continue to get bigger.
IDC said that last year saw 12 percent growth over last year, and forecasts have that level, 13.2 percent on a compound annual rate, will continue through to 2022.
IT services will be the largest category in the big data and analytics market, followed by hardware and business services.
IDC group vice president, analytics and information management Dan Vesset said that digital transformation was a key driver of BDA spending with executive-level initiatives resulting in in-depth assessments of business practices and demands for better, faster, and more comprehensive access to data and related analytics and insights.
“Enterprises are rearchitecting to meet these demands and investing in modern technology that will enable them to innovate and remain competitive. BDA solutions are at the heart of many of these investments”, he said.
More than 70 percent of the BDA software used by customers is going to be deployed on-premise, but there will be a slight shift towards the cloud over the next couple of years.
Data analytics can be a complicated technology to deploy and manage, and as a result, some users are looking to the cloud to take the strain, the report noted.
IDC, programme vice president, customer insights & analysis Jessica Goepfert said: “When we look at the opportunity trends for BDA in the cloud, the top three industries for adoption are professional services, personal and consumer services, and media. All three industries are rife with disruption and have high levels of digitisation potential. Additionally, we often find many smaller, innovative firms in this space; firms that appreciate the access to technologies that may have historically been out of reach to them either due to cost or IT complexity.”
