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Home > DTA news > Blog > New IDC Forecast Sees Worldwide Big Data Technology and Services Market Growing to $48.6 Billion in 2019, Driven by Wide Adoption Across Industries
New IDC Forecast Sees Worldwide Big Data Technology and Services Market Growing to $48.6 Billion in 2019, Driven by Wide Adoption Across Industries
December 11, 2015 Blog big data

This article was originally published by businesswire.com and can be viewed in full here

The Big Data market continues to exhibit strong momentum as businesses accelerate their transformation into data-driven companies. This momentum is driving strong growth in big data-related infrastructure, software, and services. A new forecast from International Data Corporation (IDC) sees the big data technology and services market growing at a compound annual growth rate (CAGR) of 23.1% over the 2014-2019 forecast period with annual spending reaching $48.6 billion in 2019. And a new IDC Special Study examines spending on big data solutions in greater detail across 19 vertical industries and eight big data technologies.

As big data matures, IDC expects its share of the larger Business Analytics market to increase. However, year-over-year growth within the big data market is forecast to gradually slow. The reduction in overall growth will be largely caused by increased price pressures for infrastructure and higher rates of commercialization of open source software. The availability and skill level of big data IT and analytics talent will also have a direct impact on the market.

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