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Posts from the ‘Big Data and BI Forecasts and Market Estimates’ Category

10 Charts That Will Change Your Perspective Of Big Data’s Growth

  • 10 Charts That Will Change Your Perspective Of Big Data's GrowthWorldwide Big Data market revenues for software and services are projected to increase from $42B in 2018 to $103B in 2027, attaining a Compound Annual Growth Rate (CAGR) of 10.48% according to Wikibon.
  • Forrester predicts the global Big Data software market will be worth $31B this year, growing 14% from the previous year. The entire global software market is forecast to be worth $628B in revenue, with $302B from applications.
  • According to an Accenture study, 79% of enterprise executives agree that companies that do not embrace Big Data will lose their competitive position and could face extinction. Even more, 83%, have pursued Big Data projects to seize a competitive edge.
  • 59% of executives say Big Data at their company would be improved through the use of AI according to PwC.

Sales and Marketing, Research & Development (R&D), Supply Chain Management (SCM) including distribution, Workplace Management and Operations are where advanced analytics including Big Data are making the greatest contributions to revenue growth today. McKinsey Analytics’ study Analytics Comes of Age, published in January 2018 (PDF, 100 pp., no opt-in) is a comprehensive overview of how analytics technologies and Big Data are enabling entirely new ecosystems, serving as a foundational technology for Artificial Intelligence (AI). McKinsey finds that analytics and Big Data are making the most valuable contributions in the Basic Materials and High Tech industries. The first chart in the following series of ten is from the McKinsey Analytics study, highlighting how analytics and Big Data are revolutionizing many of the foundational business processes of Sales and Marketing.

The following ten charts provide insights into Big Data’s growth:

  • Nearly 50% of respondents to a recent McKinsey Analytics survey say analytics and Big Data have fundamentally changed business practices in their sales and marketing functions. Also, more than 30% say the same about R&D across industries, with respondents in High Tech and Basic Materials & Energy report the greatest number of functions being transformed by analytics and Big Data. Source: Analytics Comes of Age, published in January 2018 (PDF, 100 pp., no opt-in).

  • Worldwide Big Data market revenues for software and services are projected to increase from $42B in 2018 to $103B in 2027, attaining a Compound Annual Growth Rate (CAGR) of 10.48%. As part of this forecast, Wikibon estimates the worldwide Big Data market is growing at an 11.4% CAGR between 2017 and 2027, growing from $35B to $103B. Source: Wikibon and reported by Statista.

  • According to NewVantage Venture Partners, Big Data is delivering the most value to enterprises by decreasing expenses (49.2%) and creating new avenues for innovation and disruption (44.3%). Discovering new opportunities to reduce costs by combining advanced analytics and Big Data delivers the most measurable results, further leading to this category being the most prevalent in the study. 69.4% have started using Big Data to create a data-driven culture, with 27.9% reporting results. Source: NewVantage Venture Partners, Big Data Executive Survey 2017 (PDF, 16 pp.)

  • The Hadoop and Big Data Market are projected to grow from $17.1B in 2017 to $99.31B in 2022 attaining a 28.5% CAGR. The greatest period of projected growth is in 2021 and 2022 when the market is projected to jump $30B in value in one year. Source: StrategyMRC and reported by Statista.

  • Big Data applications and analytics is projected to grow from $5.3B in 2018 to $19.4B in 2026, attaining a CAGR of 15.49%. Big Data market worldwide includes Professional Services is projected to grow from $16.5B in 2018 to $21.3B in 2026. Source: Wikibon and reported by Statista.

  • Comparing the worldwide demand for advanced analytics and Big Data-related hardware, services and software, the latter category’s dominance becomes clear. The software segment is projected to increase the fastest of all categories, increasing from $14B in 2018 to $46B in 2027 attaining a CAGR of 12.6%. Sources: WikibonSiliconANGLE; Statista estimates and reported by Statista.

  • Advanced analytics and Big Data revenue in China are projected to be worth ¥57.8B ($9B) by 2020. The Chinese market is predicted to be one of the fastest growing globally, growing at a CAGR of 31.72% in the forecast period. Sources: Social Sciences Academic Press (China) and Statista.

  • Non-relational analytic data stores are projected to be the fastest growing technology category in Big Datagrowing at a CAGR of 38.6% between 2015 and 2020. Cognitive software platforms (23.3% CAGR) and Content Analytics (17.3%) round out the top three fastest growing technologies between 2015 and 2020. Source: Statista.

  • A decentralized general-merchandise retailer that used Big Data to create performance group clusters saw sales grow 3% to 4%. Big Data is the catalyst of a retailing industry makeover, bringing greater precision to localization than has been possible before. Big Data is being used today to increase the ROI of endcap promotions, optimize planograms, help to improve upsell and cross-sell sales performance and optimize prices on items that drive the greatest amount of foot traffic. Source: Use Big Data to Give Local Shoppers What They Want, Boston Consulting Group, February 8, 2018.

  • 84% of enterprises have launched advanced analytics and Big Data initiatives to bring greater accuracy and accelerate their decision-making Big Data initiatives focused on this area also have the greatest success rate (69%) according to the most recent NewVantage Venture Partners Survey. Over a third of enterprises, 36%, say this area is their top priority for advanced analytics and Big Data investment. Sources: NewVantage Venture Partners Survey and Statista.

Additional Big Data Information Sources:

4 Pain Points of Big Data and how to solve them, Digital McKinsey via Medium, November 10, 2017

53% Of Companies Are Adopting Big Data Analytics, Forbes, December 24, 2017

6 Predictions For The $203 Billion Big Data Analytics Market, Forbes, Gil Press, January 20, 2017

Analytics Comes of Age, McKinsey Analytics, January 2018 (PDF, 100 pp.)

Big Data & Analytics Is The Most Wanted Expertise By 75% Of IoT Providers, Forbes, August 21, 2017

Big Data 2017 – Market Statistics, Use Cases, and Trends, Calsoft (36 pp., PDF)

Big Data and Business Analytics Revenues Forecast to Reach $150.8 Billion This Year, Led by Banking and Manufacturing Investments, According to IDC, March 14, 2017

Big Data Executive Survey 2018, Data and Innovation – How Big Data and AI are Driving Business Innovation, NewVantage Venture Partners, January 2018 (PDF, 18 pp.)

Big Data Tech Hadoop and Spark Get Slow Start in Enterprise, Information Week, March 20, 2018

Big Success With Big Data, Accenture  (PDF, 12 pp.)

Gartner Survey Shows Organizations Are Slow to Advance in Data and Analytics, Gartner, February 5, 2018

How Big Data and AI Are Driving Business Innovation in 2018, MIT Sloan Management Review, February 5, 2018

IDC forecasts big growth for Big Data, Analytics Magazine. April 2018

IDC Worldwide Big Data Technology and Services 2012 – 2015 Forecast, Courtesy of EC Europa (PDF, 34 pp.)

Midyear Global Tech Market Outlook For 2017 To 2018, Forrester, September 25, 2017 (client access reqd.)

Oracle Industry Analyst Reports – Data-rich website of industry analyst reports

Ten Ways Big Data Is Revolutionizing Marketing And Sales, Forbes, May 9, 2016

The Big Data Payoff: Turning Big Data into Business Value, CAP Gemini & Informatica Study, (PDF, 12 pp.)

The Forrester Wave™: Enterprise BI Platforms With Majority Cloud Deployments, Q3 2017 courtesy of Oracle

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6M Developers Are Creating Big Data And Advanced Analytics Apps Today

  • analytics-development2M developers are working on IoT applications, increasing 34% since the last year.
  • Over 50% of the developers working on IoT applications are writing software that utilizes sensors in some capacity.
  • 4M enterprise developers play decision-making roles when it comes to selecting organizational IT development resources. Another 5.2 million hold decision-making authority for selecting IT deployment resources.
  • 4M developers (26% of all developers globally) are using the cloud as a development environment today
  • The APAC region leads the world with approximately 7.4M developers today, followed by EMEA with 7.2M, North America with 4.4M and Latin American with 1.9M.

These and many other fascinating insights are from the Evans Data Corporation Global Developer Population and Demographic Study 2016 (PDF, client access) published earlier this week. The methodology Evans Data has created to produce this report is the most comprehensive developed for aggregating, analyzing and predicting developer populations globally. The study combines Evans Data’s proprietary global developer population modeling with the current results of their semi-annual global developer survey.

Key takeaways from the study include the following:

  • 6M developers (29% of all developers globally) are involved in a Big Data and Advanced Analytics project today. An additional 25% of developers, or 5.3M, are going to begin Big Data and Advanced Analytics projects within the next six 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.  The following graphic provides an overview of the involvement of 21M developers in Big Data and Advanced Analytics projects today. Please click on the image to expand for easier viewing.

involvement in big data analytics

  • 4M developers (26% of all developers globally) are using the cloud as a development environment today. Developers creating new apps in the cloud had increased 375% since Evans began measuring developer participation in mobile development in 2009 when just slightly more than 1.2M developers were using the cloud as their development platform. 4.5M developers (21% of all global developers) plan on beginning app development on cloud platforms in the next six months, and 3.9M (18% of all global developers) plan on starting development on the cloud in 7 – 12 months. Please click on the image to expand for easier viewing.

plans for cloud development

  • 8M developers in APAC (24% of all developers in the region) are currently developing on cloud platforms. 29% of APAC developers are planning to start cloud-based development in six months, and 20% in 7 – 12 months. The following graphic compares the number of developers currently using the cloud as a development environment today and the number who plan to in the future. Please click on the image to expand for easier viewing.

plans for cloud development by region

  • 34% of all Commercial Independent Software Vendors (ISVs) globally today (1.8M developers) are using the cloud as a development environment. An additional 1.4M are planning to begin cloud development in the next six months.  28% of developers globally creating apps in the cloud are from custom system integrators (SI) and value-added resellers (VARs).  23% or approximately 1.2M are from enterprises.  The following graphic compares the percent of developers by developer segment who are currently creating new apps in cloud environments. Please click on the image to expand for easier viewing.

Plans for cloud development by developer segment

  • 30% of developers (6.2M developers globally) are currently developing software for connected devices or the Internet of Things today, with an additional 26% planning to begin projects in 6 months. Evans Data found that this increased 34% over the last year. Also, 2.1M developers plan to begin development in this area within the next 7 to 12 months. The following graphic compares the number of developers globally by stage of development for creating software for connected devices or the Internet of Things. Please click on the image to expand for easier viewing.

Plans for Internet of Things Development

  • 41% of global developers creating connected device and IoT software today are from 27% are from North America, 24% are from EMEA and 7% from Latin America.  There are 6,072,048 developers currently working on connected device and IoT software today globally.  The following graphic provides an overview of the distribution of developers creating connected device and IoT software by region today. Please click on the image to expand for easier viewing.

Development for Connected Devices By Region

  • 34% of developers actively creating software for connected devices or the Internet of Things work for custom System Integrators (SI) and VARs today. ISVs are the next largest segment of developers working on IoT projects (30%) followed by enterprises (21%). The following graphic provides an overview of the global base of developers creating software for connected devices and IoT. Evans Data found there are 6.1M developers currently creating apps and solutions in this area alone. Please click on the image to expand for easier viewing.

Development for connected devices by developer segment 2

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