New research from International Data Corp. (IDC) forecasts global revenues in the Big Data and business analytics market to grow from $122 billion in 2015 to $187 billion by 2019, a greater than fifty percent increase over the five-year forecast period.

The analyst firm said that services will account for more than half of all Big Data and analytics-related revenues by 2019. Within that segment, IT Services will generate three times the cash of Business Services. Software will make up the second-largest category of Big Data revenues, generating more than $55 billion a year in 2019, IDC said. Almost half of that will come from Data Warehouse Management and End-User Query, Reporting and Analysis tools, the research firm said.

 Meanwhile, related hardware spending will hit $28 billion by 2019.

 The most data-hungry industries

IDC’s “Worldwide Semiannual Big Data and Analytics Spending Guide“ is perhaps most useful for showing us which industries represent the lion’s share of Big Data revenue opportunities. According to IDC, the “discrete manufacturing industry”, which includes things like cars, consumer electronics, furniture and toys, will account for $22.8 billion in Big Data-related revenues by 2019, followed by banking with $22.1 billion; and process manufacturing with $16.4 billion. Four other industries – federal/central government, professional services, retail and telecommunications – will also generate a combined $10 billion in revenues by 2019.

Despite this, the fastest revenue growth will actually occur in the utilities, resource, healthcare and banking industries, IDC said. It added that all industries profiled in its report will see gains of fifty percent over the five-year forecast period.

Not surprisingly, the primary driver of Big Data and business analytics opportunities will be enterprises with greater than 500 employees, IDC said. It forecasts that these enterprises will generate revenue of more than $140 billion by 2019. Even so, it doesn’t discount the opportunity to be found in small and medium sized businesses (less than 500 employees), which will drive almost a quarter of global revenues. 
 Src:  http://siliconangle.com/