Tuesday, March 5, 2024

Big Data on track to escalate innovation in Asia: IDC

Analyst firm IDC expects the Asia Pacific excluding Japan (APeJ) Big Data technology and services market to grow at a 34.1-percent compound annual growth rate (CAGR) from $548.4 million in 2012 to $2.38 billion in 2017.

According to the IDC report, investments in Big Data and analytics (BDA) are surfacing across a broader spectrum of use cases in APEJ. However, many Big Data initiatives are still focused on optimizing existing business processes and improving customer engagement.

The IDC study examined the Big Data technology and services market for the period 2011-2017. The Big Data market is an aggregation of the storage, server, networking, software (e.g., information management software, discovery and analytics software, and applications software), and services market segments ? each with several sub-segments, which are provided this time to make the study more comprehensive.

“IDC believes organizations in this region will increase their focus on innovation projects, as they extend their use of sophisticated analytics solutions and gain more experience managing complex data environments,” says Daniel-Zoe Jimenez, senior program manager, APEJ Big Data and analytics and enterprise applications.

Reflecting on his observations that there has been a growth in the amount of social interaction data being collected and analyzed in the past year, Jimenez explained that Big Data is an evolving discipline, and IDC expects it to continue.

“In the coming years, IDC expects to see exponential interest in the insights hidden in geolocation information. This will push all legal boundaries and expectations of privacy. We expect this to be a discussion that spreads across the markets in APEJ.”

Craig Stires, research director for APEJ Big Data and analytics, noted that significant efforts are already being made in Australia and Singapore to leverage Big Data for improved customer engagement.

“These countries and others in the ‘leaders’ category are expected to invest more in services as a proportion of their overall Big Data spend. This is largely driven by these countries investing more heavily in consulting resources, at relatively high price points, to design and implement solutions according to emerging best practices,” said Stires.

“In the ‘midstream’ category, we see countries that have not traditionally had a strong analytics culture, but have data challenges on massive scales. China and India are making significant investments in Big Data, with much of the focus on infrastructure spending during the forecast period driven by hyperscale datacenters build-outs.”

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