Annual global revenues from big data and business analytics will grow to US$187 billion (€167.12 billion) by 2019 from $122 billion in 2015, predicted IDC late on Monday.

The research firm expects services to account for more than half of that revenue, followed by software – such as end-user query, reporting and analysis tools, and data warehouse management tools – which will account for $55 billion. Hardware revenue is forecast to reach $28 billion.

"There is little question that big data and analytics can have a considerable impact on just about every industry," said Jessica Goepfert, programme director, consumer insights and analysis, at IDC, in a statement. "Its promise speaks to the pressure to improve margins and performance while simultaneously enhancing responsiveness and delighting customers and prospects."

In terms of industry verticals, discrete manufacturing – which encompasses distinct items like cars, consumer electronics, toys and furniture – represents a $22.8 billion big data and analytics opportunity, IDC predicted.

Meanwhile banking and process manufacturing – which includes bulk items like chemicals, food, and fuels – will come to represent revenue opportunities of $22.1 billion and $16.4 billion respectively.

"Organisations able to take advantage of the new generation of business analytics solutions can leverage digital transformation to adapt to disruptive changes and to create competitive differentiation in their markets," said Dan Vesset, IDC's group vice president of analytics and information management.

From a geographic perspective, by 2019, IDC expects the U.S. to represent the biggest market for big data and analytics, with revenue climbing to more than $98 billion.

Western Europe will be the second-largest, followed by Asia Pacific (excluding Japan), and then Latin America.

totaltele.com