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The Big Data and Analytics (BDA) market is expected to reach $190 billion in 2019 and will brow 13 percent annually to reach $274.3 billion in 2022, according to IDC.
Jessica Goepfert, program vice president at IDC, said that “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 digitization 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.”
Dan Vesset, group vice president at IDC, said that “digital transformation is a key driver of BDA spending with executive-level initiatives resulting in deep assessments of current business practices and demands for better, faster, and more comprehensive access to data and related analytics and insights. Enterprises are re-architecting 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.”