IDC Reveals 53% of Organizations in the APEJ Region Consider Big Data and Analytics Important for Business
21 Apr 2016
SINGAPORE, April 22, 2016 – IDC’s new research titled Asia/Pacific (Excluding Japan) Big Data and Business Analytics Services Market Opportunities, 2016 forecasts APEJ Big Data and analytics-related services marketing will grow from US$3.8 billion to US$7.0 billion in 2019 at a 16.3% CAGR, driven by the growing demand for analytics-related systems integration and BPO services. Also, the research reveals that 53% of organizations in the region consider Big Data and analytics important and have adopted or plans to adopt it in the near future.
"Enterprises are overwhelmed with massive amounts of data, and additionally, mobility and Internet of Things (IoT) are adding to this exponential growth and complexity. This in turn is facilitating enterprises to relook at their Big Data and analytics strategy and leverage the growing data to make quick and right decisions to achieve business goals,” states Sherrel Roche, IT Services Senior Market Analyst, IDC Asia Pacific.
As enterprises have generated, collected, and stored vast amounts of data for years, they are currently interested in analyzing this data to drive business innovation. However, enterprises in APEJ are in the early stages of Big Data and analytics adoption due to the lack of trained professionals and data science skills. Despite this, there are massive amount of services opportunities due to the growing awareness about BDA technology – not to mention the push of various governments on Smart Cities, which all have strong BDA components. Moving forward as the BDA market matures, there will be growing interest seen in cloud-based delivery of business analytics services, security analytics services and predictive analytics.
“Majority of the enterprises in the region prefer to manage Big Data and analytics services in-house as the complexity of BDA technologies is turning off end-users,” adds Roche.
However, the research also reveals that enterprises that engage with external services providers prefer partnering with independent software vendors (ISVs), and outsourcing services providers for Big Data and analytics professional services. IDC believes that ISV’s and management consultant SP’s need to take the lead role and drive industry-specific BDA solutions.
"One in three organizations in the region find it difficult to build business case or measure ROI while leveraging BDA solutions, and we see organizations are becoming more pragmatic in justifying business cases and starting small in their BDA journey," comments Qiao Li, Senior Market Analyst, Big Data and analytics, IDC Asia Pacific, "ISVs and consulting service providers, need to partner with organizations to identify appropriate use cases and relevant data sources to drive faster and quantifiable benefits in BDA initiatives."
This IDC Market Analysis Perspective (MAP) summarizes the key demands, opportunities, and trends driving the Big Data and analytics-related (BDA) services market in Asia/Pacific (excluding Japan), or APEJ. The MAP includes market forecast, service providers landscape, and provides a brief competitive assessment as well as a discussion of end-user BDA solutions requirements. Also, the authors provide guidance to Big Data and analytics service providers based on the market trends.
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About Asia/Pacific IT Services Opportunities
IDC's Asia/Pacific IT Services Opportunities service offers timely and responsive market analysis and competitive coverage of the IT and business services markets in Asia/Pacific. Developed in the perspective of demands from both the supply and the demand side of the market, this service provides you with in-depth analysis and forecasts on customer buying behavior and competitive activities across the enterprise and SMB markets. Asia/Pacific IT Services Opportunities is designed to aggregate research across multiple coverage areas, including project-based services, support and training services, business process outsourcing, and managed/outsourcing (including the cloud-based) services, to provide a comprehensive and an opinionated analysis to IT service providers and the financial community seeking to invest in this region.
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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