Worldwide revenue for big data and business analytics solutions is expected to reach $189.1 billion this year, up 12 percent from 2018, according to a semiannual forecast from International Data Corp. That growth will continue at a CAGR of 13.2 percent over the next five years, reaching $274.3 billion in 2022.
Digital transformation will be a major driver of big data tech sales, according to IDC, as executive-level initiatives and reassessments of business practices lead to greater demands for access to data and analytical insights. While established vendors like Tableau, Oracle and Microsoft will account for a big chunk of those sales, startups with innovative big data technologies are sure to capture a piece of the big data market. Solution providers who want to offer their customers the latest software and services in business analytics, data management, data science and machine learning to tackle their big data challenges should take notice.
Author: Rick Whiting