E-Business
Big Data Technology, Services Market Growing to $48.6Bn in 2019- IDC
The Big Data market continues to exhibit strong momentum as businesses accelerate their transformation into data-driven companies.
This momentum is driving strong growth in big data-related infrastructure, software, and services.
A new forecast from International Data Corporation (IDC ) sees the big data technology and services market growing at a compound annual growth rate (CAGR) of 23.1% over the 2014-2019 forecast period with annual spending reaching $48.6 billion in 2019. And a new IDC Special Study examines spending on big data solutions in greater detail across 19 vertical industries and eight big data technologies.
“The ever-increasing appetite of businesses to embrace emerging big data-related software and infrastructure technologies while keeping the implementation costs low has led to the creation of a rich ecosystem of new and incumbent suppliers,” said Ashish Nadkarni, program director, Enterprise Servers and Storage and co-author of the report with Dan Vesset, Program Vice President, Business Analytics & Big Data.
“At the same time, the market opportunity is spurring new investments and M&A activity as incumbent suppliers seek to maintain their relevance by developing comprehensive solutions and new go-to-market paths.”
All three major big data submarkets – infrastructure, software, and services – are expected to grow over the next five years. Infrastructure, which consists of computing, networking, storage infrastructure, and other datacenter infrastructure-like security – will grow at a 21.7% CAGR.
Software, which consists of information management, discovery and analytics, and applications software – will grow at a CAGR of 26.2%.
And services, which includes professional and support services for infrastructure and software, will grow at a CAGR of 22.7%. Infrastructure spending will account for roughly one half of all spending throughout the forecast period.
As big data matures, IDC expects its share of the larger Business Analytics market to increase. However, year-over-year growth within the big data market is forecast to gradually slow.
The reduction in overall growth will be largely caused by increased price pressures for infrastructure and higher rates of commercialization of open source software.
The availability and skill level of big data IT and analytics talent will also have a direct impact on the market.
While the business drivers, barriers, and potential benefits from deploying big data initiatives vary from industry to industry, these efforts are primarily focused on delivering a better customer experience, supporting product and service innovation, and optimizing business processes.
Common barriers to adoption include security and privacy concerns, as well as the related challenges of collecting, using, and managing customers’ personal data. A shifting regulatory environment is another area of concern across industries.
“The ability to leverage big data and analytics to develop an integrated view of customer activities and business operations will provide competitive differentiation to companies across industries,” said Jessica Goepfert, program director for IDC’s Global Technology and Industry Research Organization.
“However, in addition to the huge opportunities, big data presents some significant risks and liabilities to organizations. Line of business and IT executives will need to approach these ongoing challenges with awareness, flexibility, adaptability, and responsibility.”
From a vertical industry perspective, the largest industries for big data spending include discrete manufacturing ($2.1 billion in 2014), banking ($1.8 billion in 2014), and process manufacturing ($1.5 billion in 2014).
The industries with the fastest growth rates include securities and investment services (26% CAGR), banking (26% CAGR), and media (25% CAGR).
The IDC study, Worldwide Big Data Technology and Services Forecast, 2015-2019 (IDC #259532), provides a revenue forecast of the big data technology and services market for the 2015-2019 period. The forecast covers infrastructure, software, and services market segments, as well as a regional distribution for the Americas, Europe, the Middle East and Africa (EMEA) and Asia/Pacific (including Japan).
The IDC Special Study, Driven by Data, Fueled with Insights: Worldwide Big Data Forecast by Vertical Market, 2014-2019 (IDC # US40544915), examines the current status of big data adoption and investment in the context of different vertical industries, identifying industry drivers and barriers of big data solutions, and providing a vertical forecast by 19 industries for the United States and Worldwide for eight big data technologies. The report also examines potential changes that will shape business and IT strategy in coming years and the business opportunities enabled by big data and advanced analytics.
National Identity Management Commission (NIMC) of Nigeria has launched a new digital identity verification tool called the NIN Authentication (NINAuth) application.
The initiative, which forms part of President Bola Tinubu’s Renewed Hope Agenda, aims to strengthen the country’s national digital identity management framework.
The launch builds upon Nigeria’s comprehensive unified digital identity system that has been transforming access to financial services and government programs.
The NINAuth application introduces several key features focused on data security and privacy.
The platform requires explicit user consent before sharing identity information for Know Your Customer (KYC) processes, giving individuals greater control over their personal data.
The system provides seamless access to various government services, including SIM card registration, immigration applications, passport processing, tax filings, and financial transactions.
The development follows significant investment in Nigeria’s digital identity infrastructure, including a $45.5 million support from the World Bank as part of the Digital Identification for Development (ID4D) project.
As the official service for integration with NIMC’s backend infrastructure, NINAuth enables secure verification processes across ministries, departments, and agencies (MDAs).
The application is available for download on both the Google Play Store and Apple iOS App Store for users of the National Identification Number (NIN).
The rollout represents a significant milestone in Nigeria’s ongoing efforts to digitize government services and strengthen identity verification processes.
“NINAuth is a cutting-edge suite of services including web, API, and mobile verification designed to enhance data security, protect privacy, and simplify access to government services,” said Dr. Kayode Adegoke, Head of Corporate Communications at NIMC.
“The platform introduces a robust layer of protection, empowering individuals with greater control over their personal information.”
The implementation supports the objectives of the recently established Nigeria Digital Identification for Development Project Ecosystem Steering Committee, which oversees the country’s digital identity initiatives.
President Bola Ahmed Tinubu has approved the launch of the NINAuth app and directed its use for verification and authentication across all MDAs.
The application provides a secure single sign-on solution for accessing government services and social protection programs while maintaining strict data privacy controls.
The centralized approach to digital identity management represents a significant step forward in Nigeria’s digital transformation journey and its commitment to modernizing government services.
Nigerian Copyright Commission (NCC) has set in motion a machinery to checkmate the booming copyright piracy market in the country.
Copyright piracy is said to cost Nigeria an annual loss estimated at billions of naira.
Despite the absence of a coordinated or official statistics to gauge the quantum of loss, John Asein, director general, NCC, said as far back as 2019, Nigeria lost N918 trillion ($3 billion) annually to digital piracy.
The financial damages severely impact local businesses and innovation efforts.
The commission, in collaboration with the World Intellectual Property Organisation (WIPO), has started a project to develop strategies and tools to address the menace.
Speaking at a stakeholders’ meeting on the WIPO project to address online copyright piracy in Nigeria, Asein said digital technologies have unlocked tremendous opportunities for the creative and innovation sectors.
The NCC boss said technology also poses serious challenges, including online piracy, which he said is growing rapidly.
He said: “Pirate sites continue to emerge rapidly, with statistics indicating a 6.7 per cent increase in user visits. A significant percentage of these users are students aged between 18 and 24, with social media and messaging platforms becoming major gateways for accessing pirated content.”
He added: “No industry is immune. The most affected sectors include television (43.6 per cent), publishing (27.5 per cent), film (12.9 per cent), music (7.0 per cent), and software (6.2 per cent).
“Far beyond mere statistics, the victims are no longer only foreign right owners. Many Nigerians in these sectors have also been bruised and their creative enterprises ruined.”
Nigerian Postal Service (NIPOST) has signed an international mail partnership with KLM Royal Dutch Airlines for improved delivery access to over 200 countries without middlemen.
Tolani Odeyemi, postmaster-general and chief executive officer of NIPOST, described the deal as a “major milestone” for the country’s logistics and postal sector.
In a statement on X on Monday, Odeyemi explained that the new agreement marks NIPOST’s first direct international airline partnership for several years.
“For a long time, NIPOST operated without any direct partnerships with international airlines, relying heavily on multiple third-party handlers,” the Postmaster-General stated. This often resulted in delays, higher costs, and uncertainty around the delivery of packages.”
She explained that under the new arrangement, KLM will directly handle all outbound international mail from Nigeria, eliminating the need for intermediaries.
“This translates to faster and more reliable delivery, reduced risk of loss or damage, lower handling charges, and access to over 200 countries through KLM’s global network,” the Postmaster-General stressed.
According to Odeyemi, NIPOST’s breakthrough came after it began settling long-standing debts owed to international carriers, a step she said was key to “rebuilding global trust” in Nigeria’s postal system.
She revealed that talks were also ongoing with Ethiopian Airlines to bolster regional and continental logistics, particularly on African and Eastern routes.
“Our goal is clear and unwavering: to connect Nigeria regionally and globally, efficiently, securely, and affordably,” Odeyemi asserted.
The NIPOST CEO described the development as a significant win for Nigerian businesses and small and medium-scale enterprises that rely on international shipping, stating, “You now benefit from quicker, more affordable international shipping, greater peace of mind with improved reliability, and new potential to reach and grow in global markets.”
Odeyemi commended the teams behind the scenes and pledged continued improvements in service delivery, adding that the deal signals a turning point for the agency.
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