Insights, intelligence, advantage — these are constant refrains when it comes to big data and analytics (BDA) tools. The market is burgeoning, with IDC forecasting a value of €260 billion (€228.6 billion) by 2022 with a compound annual growth rate (CAGR) of 11.9% over the forecast period.
Investments are broad across industry sectors, though IDC reports banking, discrete manufacturing, process manufacturing, professional services, and federal/central government are notable verticals. According to the analyst, these five industries will account for nearly half of worldwide BDA revenues, while also becoming the largest BDA opportunity in 2022 when their total investment will likely be $129 billion (€113.4 billion). The industries that will deliver the fastest BDA revenue growth are retail (13.5% CAGR), banking (13.2% CAGR), and professional services (12.9% CAGR), says IDC.