Partners building out IT services are best positioned to capitalise in a big data and analytics (BDA) market set to experience double-digit growth in 2019.
That’s according to new IDC findings, with forecasts investment to reach US$189.1 billion globally, representing an increase of 12 per cent over 2018.
Of note to the channel, IT services will be the largest category within the BDA market this year at $77.5 billion, followed by hardware purchases ($23.7 billion) and business services ($20.7 billion).
Collectively, IT and business services will account for more than half of all BDA revenues until 2022, according to IDC.
“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," said Dan Vesset, group vice president at IDC.
“Enterprises are rearchitecting 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.”
Meanwhile, Vesset said BDA-related software revenues will be $67.2 billion in 2019, with end-user query, reporting, and analysis tools ($13.6 billion) and relational data warehouse management tools ($12.1 billion) being the two largest software categories.
According to IDC, the BDA technology categories that will see the “fastest revenue growth” will be non-relational analytic data stores (34 per cent) and cognitive/AI software platforms (31.4 per cent).
“Big data technologies can be difficult to deploy and manage in a traditional, on premise environment,” added Jessica Goepfert, program vice president of IDC.
“Add to that the exponential growth of data and the complexity and cost of scaling these solutions, and one can envision the organisational challenges and headaches.”
However, Goepfert said cloud can help mitigate some of these hurdles.
“Cloud's promise of agility, scale, and flexibility combined with the incredible insights powered by BDA delivers a one-two punch of business benefits, which are helping to accelerate BDA adoption,” Goepfert explained.
“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 digitisation 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.”