Big Data and Analytics Software Market Will Maintain Strong Growth Till 2026 | Present

Geopolitical conflicts will have a slight impact on the development of this market, according to IDC’s latest monitoring report. Its prognosis is positive due to the heavy use of data by organizations that increasingly rely on it as a way to make decisions based on changes in demand. In other words, the ability to analyze and forecast is key to adapting to market conditions and anticipating problems in the supply chain.

IDC acknowledges that this software sector has suffered moderately from the Russo-Ukrainian war, as well as the weakening of the euro against the dollar, but this has been largely confined to Europe, the Middle East, and Africa (EMEA). In this sense, during the first six months of 2022, the income generated in this region decreased by 10% year-on-year in dollar terms, although in constant currency it did so by 19.5%. However, the Americas region saw 21% growth in both the dollar and constant currency. For its part, the Asia-Pacific region, including Japan (APJ), recorded a growth of 16% in dollar terms and 23.3% in constant currency.

As IDC shows, just as during the pandemic, during the first half of 2022 the most transformative technologies, such as popular analytics applications, artificial intelligence software platforms, and data integration and integration tools, have seen themselves less affected by context and market challenges. . “In fact, these programs are essential for risk mitigation and opportunity-seeking strategies,” explains Thomas Vavra, IDC Associate Vice President for Program Data and Analytics in Europe.

Looking ahead to 2023, IDC forecasts that spending on this type of solution will grow at an annual rate of 15.2%, gradually catching up with that of the Americas and APJ regions, where it will grow by 2% and 4.5%, respectively. In terms of compound annual growth rate (CAGR) over the period 2022-2026, EMEA is likely to reach 19.1%, a slightly stronger advance than the Americas, but a weaker 1.4% than the Asia Pacific region.

Within the global BDA market, which will grow by around 20% on average, business intelligence and analytics tools and platforms will register a compound annual growth rate of 23.6% between 2022 and 2026. This category with the highest growth increase, above will be analytics and performance management applications, which It will be just above 10%. Compared to them, the segment of integration platforms and analytics management will slow down growth.