Big Data, business analytics to hit $203bn by 2020
Last month we reported that Big Data was expected to hit $72bn (£54bn per annum) by 2020. Today we see another, global, report providing some vastly inflated figures: the Big Data and business analytics (BDA) market is predicted to hit $203bn (£159bn) in the year 2020, up from $130.1bn (£102bn) in 2016, according to research firm IDC.
Monday’s findings come from the IDC’s Semiannual Big Data and Analytics Spending Guide, and report that almost 50% of development is coming from the banking, manufacturing, government and professional services industries, with “respondents from organisations in these industries placing a high priority on BDA initiatives over other technology investments. Within banking, many of these efforts are focused on risk management, fraud prevention, and compliance related activities.”