Why big data and analytics revenues will reach $260 billion

Enterprise data lakes are an essential component of many digital transformation projects. Numerous insights about customers, partners and other stakeholders are extracted from these significant commercial assets. Given the benefits, IT infrastructure and associated software investment will increase to support new use cases. According to the latest worldwide market study by International Data Corporation (IDC), revenues for big data and business analytics (BDA) solutions will reach $260 billion in 2022 with a compound annual growth rate (CAGR) of 11.9 percent over the 2017-2022 forecast period. BDA revenues are expected to total $166 billion in 2018 -- that's an increase of 11.7 percent over 2017. The industries making the largest investments in big data and business analytics solutions throughout the forecast are banking, discrete manufacturing, process manufacturing, professional services, and federal or central government. Combined, these five industries will account for nearly half ($81 billion) of worldwide BDA revenues this year.