|By PR Newswire||
|February 17, 2014 08:53 AM EST||
- After investments to learn how to use big data, Brazilian companies start the run for competitive advantage
SAO PAULO, Feb. 17, 2014 /PRNewswire/ -- The Brazilian big data and analytics market is still in the early development stage and, as an emerging industry, offers immense opportunities for new entrants and investments. Most companies in the country are unprepared to process the briskly growing amount of internal and external data. In fact, data volume growth is so high that some routine and important processes in enterprises now take too much time to run with traditional solutions. Therefore, Brazilian companies are pursuing new solutions that can integrate data and run processes faster, widening the potential for the big data and analytics market.
As a result, market revenues for Brazil that stood at $243.6 million in 2013 are expected to reach $965.0 million in 2018, according to the new Frost & Sullivan (http://www.ITservices.frost.com) analysis, Insights into Big Data and Analytics in Brazil.
"Big data projects enable firms to access relevant information that cannot usually be easily found or analyzed," said Frost & Sullivan Information and Communication Technologies Industry Analyst Guilherme Campos. "Solutions structured to process big data also allow companies to act predictively."
While some businesses in Brazil are aware of big data, most do not know where and how to begin using it to their benefit. Service providers' current offers are not clear enough to help clients understand the returns on investment. Differing taxonomy by various vendors to define big data make the various investment options all the more confusing.
As a result, the biggest user demand in this budding market is currently for consulting services on how to use big data and capitalize on its advantages. Service providers too are working with universities to train and create more experts while simultaneously developing user-friendly solutions.
"This will quicken adoption in verticals, such as finance, telecommunications, manufacturing and retail, that are already mature enough to implement big data analytics," noted Campos. "Government investments in big data will grow exponentially due to projects that will bring more agility, security and transparency to governmental information."
Stratecast, which operates the global big data practice for Frost & Sullivan, in its report The World Moves Fast, and Data is Driving/Part 2, Competitive Strategies, published in November 2013, estimated the global market for Big Data, Analytics, and Business Intelligence (BI) solutions at $22 billion for 2012. Stratecast forecasts the market to expand at a cumulative annual growth rate (CAGR) of approximately 12.7 percent to reach $40 billion by 2017.
Stratecast has identified 20-25 large providers in this area who control most of the market. "There is still significant headroom in the market for smaller players, in part due to varying degrees of specialization, but more significantly because large providers seem content to offer solutions best suited to large enterprises," said Jeff Cotrupe, Stratecast Industry Director, Big Data & Analytics (BDA). One challenge to the growth of this market is the 'IT glass walls' phenomenon: at present it still requires considerable specialized expertise, in the form of the Data Scientist or CIO and team, for business users to get the data they need. Vendors need to adopt the principles of self-service, business-user-friendly big data implementations. "Some able cloud-based big data providers, such as Birst, GoodData and GigaSpaces, are making full-featured big data solutions affordable for a wider range of big data buyers, and readily accessible by their business users," said Cotrupe.
If you are interested in more information on these studies, please send an e-mail to Francesca Valente, Corporate Communications, at [email protected], with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.
Insights into Big Data and Analytics in Brazil is part of the IT Services Growth Partnership Service program. Frost & Sullivan's related studies include: Brazilian Internet Technology (IT) Infrastructure Outsourcing Services Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Insights into Big Data and Analytics in Brazil
Corporate Communications – Latin America
E: [email protected]