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Worldwide IoT big data and analytics software tools market insights shared in detailed report

Worldwide IoT big data and analytics software tools market insights shared in detailed report

“Worldwide IoT Big Data And Analytics Software Tools Market Forecast 2017-2022”.

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Worldwide IoT Big Data and Analytics Software Tools Market Forecast 2017-2021

This IDC study provides a five-year forecast for the worldwide IoT big data and analytics software tools market. “Our forecast represents the opportunity to change how businesses operate as the market collectively learns how to fully harness sensor data to drive high-speed decision making, reflected in both operational improvements and the delivery of new digital services to customers," according to Maureen Fleming, vice president of IDC's IoT Analytics and Information Management research program.

"It also reflects the hard work in front of technology suppliers and adopters to move this market into the mainstream."

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This IDC study presents the historical view of the worldwide BDA software market for 2012-2016 and the forecast of the market for 2017-2022. The study includes a breakdown of the market by 14 subsegments, 3 geographic regions, and public cloud versus on-premises/other software deployment methods.

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It also includes a discussion of key market drivers and inhibitors as well as guidance to vendors."The BDA software market, which in 2016 reached $49.1 billion worldwide, is expected to grow at a five-year CAGR of 10.6%. There are three significant shifts happening in the BDA market that are reflected in this forecast: first, the rapid growth of data management software based on nonrelational databases; second, the ongoing shift to public cloud; and third, growth in automation reflected in the high growth rate of cognitive/AI software," said Chandana Gopal, research manager, IDC's Business Analytics.

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