IDC's latest forecast reveals a significant upturn in the data and analytics software market, projecting a compound annual growth rate (CAGR) of 16% to reach $340 billion by 2027.
This surge underscores the accelerating enterprise drive to harness analytical insights and operational efficiency from their data. The advent of Generative AI (Gen AI) alongside the maturation of classical AI/ML technologies heralds a new era of heightened expectations and focus across all organizational spectrums.
A striking revelation from IDC DataSphere points towards an overwhelming dominance of unstructured data, which is anticipated to constitute 86.8% of the global data volume, tallying up to 246.9ZB by 2027. This reflects a robust and steady growth from 103.67ZB to 284.30ZB, with a CAGR of 22.4%.
The fusion of AI with data analytics is marked as a pivotal focus for the forthcoming half-decade. AI is set to revolutionize traditional methods of querying, analyzing, developing, and foreca...
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