A new report has claimed that businesses are still spending big on databases despite having to reassess their expenses in an increasingly tough economy.
The analyst firm’s report found a total $6.3 billion spend on compute and storage infrastructure, like servers, during the period, which represents a 2.2% year-on-year increase.
IDC five-year forecast
The report also uncovers the huge $41.1 billion spend in the “Data Management” workload category, which includes AI Lifecycle, Business Intelligence and Analytics, Structured Database/Data Management, Text and Media Analytics, and Unstructured Database, in 2022, and a sum that is only set to increase, with a 9% compound annual growth rate seeing this figure reach $56.3 billion by 2026.
More specifically, Data Management spend is set to reach $23.8 billion and $32.8 billion respectively for shared and dedicated environments by 2026, making it among the fastest growing categories of infrastructure spending.
Trailing behind are Business Applications, and Email/Collaborative & Content Applications. Taking up a slightly smaller segment of the market again is Infrastructure, followed by the much smaller Digital Services, Technical Applications, and Application Development & Test sectors.
Elsewhere, IDC reports an annual compound growth rate of 6.2% cent for on-prem spend, compared with 14.8% for the cloud, as companies transition to cloud computing models.
This growth is positive news for tech giants and computing manufacturers who will continue to develop in an effort to scoop up more of their respective markets.
Via The Register (opens in new tab)