The dynamic is global; businesses of all sizes are steadily aware of the stakes related to Big Data and Business Analytics.
For many experts in the industry, Large and very large companies (those with
more than 500 employees) will be the primary driver of the big data and
business analytics opportunity; while small and medium businesses (SMBs) will
remain a significant contributor.
IDC forecast that, worldwide revenues for big data and business
analytics will grow from nearly $122 billion in 2015 to more than $187 billion
in 2019.
The firm also reveals that, the services-related opportunity will account
for more than half of all big data and business analytics revenue for most of
the forecast period, with IT Services generating more than three times the
annual revenues of Business Services. Software expected to be the second
largest category, generating more than $55 billion in revenues in 2019.
One can also observe that, nearly half of these revenues will come from
purchases of End-User Query, Reporting, and Analysis Tools and Data Warehouse
Management Tools. Hardware spending will grow to nearly $28 billion in 2019.
The industries that present the largest revenue opportunities
are Discrete Manufacturing ($22.8 billion in 2019), Banking ($22.1 billion),
and Process Manufacturing ($16.4 billion).
Four other industries: Federal/Central Government, Professional
Services, Telecommunications, and Retail can generate revenues of more than $10
billion in 2019. The industries
experiencing the fastest revenue growth will be Utilities, Resource Industries,
Healthcare, and Banking.
By 2019, IDC forecasts that the U.S. market for big
data and business analytics solutions will reach more than $98 billion. The
second largest geographic region will be Western Europe, followed by
Asia/Pacific (excluding Japan) and Latin America.
The two regions with the fastest growth over the five year
forecast period will be Latin America and the Middle East & Africa,
according to the firm.