According to IDC, Indian enterprises are investing in big data analytics to base decisions on real-time data, and spending on such solutions is poised to grow by 11.5 per cent in 2021 to touch $2 billion.
As per the company, big data technology and service-related spending will grow at a compound annual growth rate (CAGR) of 14.6 per cent between 2020 and 2025.
The banking industry is expected to have the largest share of spending in 2021, with a CAGR of 13.7 per cent from 2017 to 2025, the report said.
In addition, telecommunications is the second-leading industry in adopting big data analytics solutions to better understand customers, business, and overall operations. The banking and telecom industries are expected to contribute to more than 30 per cent of the big data analytics (BDA) spend in 2021.
According to the report, Indian companies will invest more in analytics to maximise their budgets and maintain business resilience during the next year.
