TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • Open RAN
  • Digital Platforms and Services
  • 5G
  • Access Evolution
  • Private Networks
  • Cloud Native
  • Edge
  • Open Networking
  • Sustainability
  • AI, Analytics and Automation
  • 6G Research and Innovation
  • Security
  • More Topics
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • |
  • About
  • Contact
  • |
  • Connect with us
  • 5G
  • 6G Research and Innovation
  • Access Evolution
  • AI, Analytics and Automation
  • Cloud Native
  • Digital Platforms and Services
  • Edge
  • Open Networking
  • Open RAN
  • Private Networks
  • Security
  • Sustainability
  • Connect with TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

AI, Analytics & Automation

AI, Analytics & Automation

European Big Data spending will reach $50 Billion this year, as companies focus on analytics-enabled hyper-automation, says IDC

Via IDC

Sep 29, 2021

LONDON, September 29, 2021 — European spending on Big Data and business analytics (BDA) solutions is forecast to reach $50 billion this year, an increase of 7% over 2020, according to a new update to the Worldwide Big Data and Analytics Spending Guide from International Data Corporation (IDC). The forecast also shows that BDA spending will gain strength over the next five years as the European economy recovers from the COVID-19 pandemic. The compound annual growth rate (CAGR) for European BDA spending over the 2021–2025 forecast period will be 11%.

"To move toward the hyper-automated enterprise model, investments in BDA will continue to accelerate across all industries as the technologies help to achieve key business outcomes and increase customer experiences," said Andrea Minonne, senior research analyst at IDC U.K. "Big Data gives enterprises a competitive edge and has become a game-changer that is helping all industries achieve their business priorities."

Most European companies are very familiar with the tech, and big enterprises in particular have many Big Data–related use cases in place. Big Data remains a key tech to enhance customer journeys, reduce costs, and streamline complex business processes. Despite the COVID-19 pandemic, the Big Data and analytics market continued to grow in 2020, highlighting that Big Data is not just a nice-to-have technology but a must-have asset that can help companies fuel digital resilience to move out of critical situations faster.

In 2021, banking and discrete manufacturing will account for a quarter of overall spending on BDA. This is due to continuous interest in use cases such as fraud analysis and process automation. If we look at the long term, industries such as professional services and healthcare will have the fastest five-year CAGRs. Healthcare in particular owns a lot of patient data and will use BDA to gain insights from data, optimize and improve their performance, and understand their patients.

The Worldwide Big Data and Analytics Spending Guide is designed to address the needs of organizations assessing the Big Data and business analytics opportunity by geography, industry, and company size. The guide provides subscribers with revenue projections for 20 technology and service categories across 19 industries, five company size bands, and 53 countries. Unlike other research in the industry, the guide was designed to help IT decision makers to clearly understand the industry-specific scope and direction of the Big Data and business analytics opportunity today and over the next five years.

Related Topics
  • AI & ML,
  • AI, Analytics & Automation ,
  • Data & Analytics,
  • Digital Platforms & Services,
  • IDC,
  • Tracker

More Like This

Sustainability

Rakuten Symphony pitches a pragmatic approach to telco sustainability

May 20, 2022

Transformation

What to expect at this year's DSP Leaders World Forum

May 19, 2022

Digital Platforms & Services

BT presses reset on its Enterprise pitch

May 19, 2022

Access Evolution

Cisco Reports Third Quarter Earnings

May 18, 2022

Digital Platforms & Services

BT Means Business with launch of new Charter for UK enterprises and public sector

May 18, 2022

This content extract was originally sourced from an external website (IDC) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

16:19

AT&T Amy Zwarico on securing telco applications in the public cloud

35:55

The best use cases for telco/public cloud partnerships

13:58

Ahmed El Sayed on Vodafone’s ‘techco’ transformation

36:47

The role of 5G in private network innovation

TelecomTV
Company
  • About Us
  • Media Kit
  • Contact Us
Our Brands
  • DSP Leaders World Forum
  • Great Telco Debate
  • TelecomTV Events
Get In Touch
[email protected]
+44 (0) 207 448 1070
Connect With Us
  • Privacy
  • Cookies
  • Terms of Use
  • Legal Notices
  • Help

TelecomTV is produced by the team at Decisive Media.

© Decisive Media Limited 2022. All rights reserved. All brands and products are the trademarks of their respective holder(s).