New IDC Forecast Shows Worldwide Business Analytics Services Spending Will Surpass $100 Billion in 2019
24 Nov 2015
FRAMINGHAM, Mass., November 24, 2015 –. In a newly released study, International Data Corporation (IDC ) forecasts that worldwide business analytics services spending will reach $58.6 billion in 2015 and $101.9 billion in 2019, representing a compound annual growth rate (CAGR) of 14.7%. Adoption of new technologies and lack of internal skill sets will drive increased external spending on business analytics services throughout the forecast period.
Additional key research findings include:
• The overall five-year CAGR for project-based business analytics services will be 14.3%. Within the project-based services segment, IT consulting (ITC) services will realize strong growth at 15.1% in 2015.
• The five-year CAGR for the outsourcing segment will be 13%. Growth in business process outsourcing (BPO) services will lead within the segment at 13.6% in 2015.
• Business analytics has become a backbone technology when it comes to implementing 3rd Platform technologies. Few 3rd Platform initiatives can be carried out without involving business analytics solutions in some form.
"Talent shortage coupled with the high interest in adoption of new technologies will continue to drive high growth in business analytics services spending at the worldwide level. In addition, the desire to consume the entire lifecycle of business analytics services will drive high spending growth across all business analytics services lines in the near future," said Ali Zaidi , Research Manager, IT Consulting and Systems Integration Services .
The study, Worldwide Business Analytics Services (IDC #US40549515), presents IDC's worldwide business analytics services market by key IT service categories. A forecast and historical sizing are provided, beginning in 2010 and extending through 2019. The total worldwide market is assessed.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG , the world's leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com . Follow IDC on Twitter at @IDC .
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