CHART: Big Data and Analytics Spending in Asia to Reach $42.2 Billion in 2023
Big Data and Analytics (BDA) spending in the Asia/Pacific* region (excluding Japan) is expected to reach $42.2 billion in 2023, while the industry is projected to grow at a CAGR of 19.6% from 2022 to reach $70.7 billion by 2026, according to the latest IDC report.
The Banking, Telecommunications, and Professional Services industries, which will contribute to more than 35% of spending share in the BDA market in 2023, are expected to continue to dominate the market over the forecast period, owing to the incremental demand of organizations to engage in data-driven decision-making, improve customer experience, speed up business innovation activities, and capitalize on cost-saving opportunities.
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