Big data may be getting all of the hype right now, but its data warehousing platforms and analytics tools and applications that are racking up double-digit market growth, according to a new quarterly industry assessment from IDC.
The research firm forecasts business analytics growth at a compound rate of 9.8 percent per year, hitting $35.1 billion this year and reaching $50.7 billion by 2016. For 2011, business analytics underwent a 14.1 percent increase in revenues compared with the previous year. As part of that overall business analytics segment, the data warehousing platform software portion represented the fastest growth, at 15.2 percent in 2011 compared with 2010. IDC also pegged analytic application growth at 13.3 percent last year from 2010, and BI and analytic tools at 13.2 percent last year from 2010. Production planning applications represented the low end of the market segment spectrum, with 6.1 percent growth in 2011 from the previous year.
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