Go to Market Big Data & Analytics Strategy Predictions From Gartner
- Gartner predicts that by 2018, 75% of technology-oriented business intelligence competency centers will have evolved into strategy-oriented analytics centers of excellence to focus on information value generation.
- Gartner predicts that by 2019, 75% of analytics solutions will incorporate 10 or more exogenous data sources from second-party partners or third-party providers.
- Gartner predicts that by 2020, only 50% of chief analytics officers will have successfully created a narrative that links financial objectives to business intelligence and analytics initiatives and investments.
- Gartner predicts that by 2020, predictive and prescriptive analytics will attract 40% of enterprises’ net-new investment in business intelligence and analytics.
- Gartner predicts that through 2020, over 95% of business leaders will continue to make decisions using intuition, instead of probability distributions, and will significantly underestimate risks as a result.
Go to Market Big Data & Analytics Predictions From Gartner
- Gartner predicts that by 2018, algorithm marketplaces will be combined with PaaS to boost advanced analytics and enable secure sharing and monetization of raw data.
- Gartner predicts that by 2018, single-node analytics with Spark will predominate over multi-node Hadoop-based architectures.
- Gartner predicts that through 2018, a minority of organizations will have a rigorous approach to demonstrating the trustworthiness of their analytics algorithms.
- Gartner predicts that by 2018, decision optimization will no longer be a niche discipline; it will become a best practice in leading organizations to address a wide range of complex business decisions.
- Gartner predicts that by 2018, over half of large organizations globally will compete using advanced analytics and proprietary algorithms, causing the disruption of entire industries.
Go to Market Big Data & Analytics Research – Data & Advanced Analytics Projections
6M Developers (29% of All Developers Globally) Are Involved in Big Data & Advanced Analytics Projects Today
- An additional 25% of developers, or 5.3M, are going to begin big data & advanced analytics projects within the next six months
- 13% or 2.6M of all developers globally are going to start big data and advanced analytics projects within the next 7 to 12 months
Go to Market Big Data & Analytics Research – IDG Enterprise Research – Data & Analytics
Companies continue to consider and adopt big data technology, according to IDGs Big Data & Analytics Research. In fact, 75% of enterprise organizations have deployed or plan to deploy big data projects.
Key Takeaways from IDGs Big Data & Analytics Research Include:
- There has been little change in data-driven initiatives from last year, as 26% of companies have already implemented projects and 43% of companies are planning their implementations.
- The benefits expected to be derived from data and analytics initiatives include improving customer relationships, making business more data focused, and changing ways operations are organized.
- Organizations expect their data-driven initiative budget to increase in the next 12-18 months from 36% in 2015 to 44% in 2016
- Large enterprises invest significantly more in data-driven initiatives than SMBs. But SMB investment jumped from $1.6M in 2015 to $4.3M in 2016.
- The role of IT architect is playing a role (one of the top three) in IT purchase decisions when it comes to IT purchase decisions involving data.
- Managing unstructured data continues to be a growing challenge for organizations. In 2015, 31% in 2015 noted this as a key issue and it is now voiced by 45% of respondents in 2016.
- Security continues to be a mixed bag as some organizations are taking additional steps to secure data output, while other organizations are content with their existing security for data input.
Go to Market Big Data & Analytics Research – Global Big Data & Business Analytics Revenues Forecast to Reach $187B in 2019, IDC
According to IDCs Big Data & Business Analytics Revenues Forecast, revenues for big data and business analytics will grow from nearly $122B in 2015 to over $187B in 2019. That represents an increase of more than 50% over the five-year forecast period.
IDC expects the services-related opportunity to account for more than 50% of all big data and business analytics revenue – IT Services is expected to generate over 3X the annual revenues of Business Services. Software is predicted to be the 2nd largest category, generating more than $55B in revenues in 2019. Almost 50% of these revenues will come from purchases of End-User Query, Reporting, and Analysis Tools and Data Warehouse Management Tools while hardware spending should grow to nearly $28B in 2019.
Go to Market Big Data & Analytics Research – Industries
The industries that present the largest revenue opportunities are:
- Discrete Manufacturing, $22.8B in 2019
- Banking $22.1B
- Process Manufacturing $16.4B
Federal/Central Government, Professional Services, Telecommunications, and Retail – are expected to generate revenues of more than $10B
The vertical industries expected to have the fastest revenue growth will be Utilities, Resource Industries, Healthcare, and Banking.
Go to Market Big Data & Analytics Research – Enterprises
Large and very large enterprises (greater than 500 employees) will be the primary driver of the big data and business analytics opportunity and our expected to generate revenues greater than $140B in 2019. SMBs should provide a significant contribution with nearly 25% of the global revenues coming from organizations with less than 500 employees.
B2B Big Data & Analytics Research – Geographies
Over half of the revenue for big data and business analytics is forecast to come from the US. IDC estimates that the US market for big data and business analytics solutions will near $100B followed by Western Europe and then Asia/Pacific (excluding Japan) and Latin America. Latin America and the Middle East & Africa are expected to have the fastest growth over the 5 year forecast period.
Go to Market Big Data & Analytics Research – Wikibon Forecasts Big Data Market at $92B by 2026
The global big data market will grow 5X from just over $18B in 2014 over $92B by 2026 (14% CAGR), according to Wikibon’s Worldwide Big Data & Analytics Market Forecast.
Big Data & Analytics Research – Growth Highlights
- Hadoop platform revenues
- Rapid adoption of Apache Spark and other streaming technologies
- Large enterprises focusing on becoming more data-driven
- Emergence of new, Web-based, cloud-native startups like AirBnB Inc., Netflix Inc. and Uber Technologies Inc.
Big Data & Analytics Research – Software Market to Explode
Wikibon’s definition of the global big data market revenues consists of:
- Professional services – 40% of revenue in 2015
- Hardware – 31% of revenue in 2015
- Software – 29% of revenue in 2015
Big Data & Analytics Research – Wikibon’s 2026 Big Data Market Prediction
- Software – 46% of revenue in 2026, 20% CAGR
- Professional services – 29% of revenue in 2026
- Hardware – 25% of revenue in 2026
The Big Data Software segment is expected to grow at a 20% CAGR between 2014 – 2026
Within the software segment, growth is expected in all four sub-segments of big data software through 2026
- Data management – 14% CAGR
- Core technologies such as Hadoop, Spark and streaming analytics – 24% CAGR
- Databases – 18% CAGR
- Big data applications, analytics and tools – 23% CAGR
The Big Data Hardware segment is expected to grow at a 12% CAGR through 2026
The Big Data Services segment is expected to grow at a 11% CAGR through 2026