Gartner’s ‘cloud shift’ research includes only those enterprise IT categories that can transition to cloud, within the application software, infrastructure software, business process services and system infrastructure markets. By 2025, 51% of IT spending in these four categories will have shifted from traditional solutions to the public cloud, compared to 41% in 2022. Almost two-thirds (65.9%) of spending on application software will be directed toward cloud technologies in 2025, up from 57.7% in 2022.
As per Fortune Business Insights, global IoT market size is projected to grow from USD 381.30 billion in 2021 to USD 1854.76 billion in 2028. While if we follow the Research And Markets report, globally the AIoT market itself will reach $78.3 Billion by 2026. Also, the Global IIoT market which was valued at about $216.13 in 2020 and is expected to grow to about $1.1 trillion by 2028.
In recent years, the automation of Data & Analytics has made self-service BI tools even more important in lowering operational costs. This method of decision-making based on facts is a wise business move, making data interpretation easier for both technical and non-technical teams. A recent Mordor Intelligence report suggests that the self-service BI market will grow at a CAGR of 15.5% by 2026. Based on the increasing demand, it is undeniable that in 2022 companies will continue to adopt self-service Data Analytics solutions to support more fact-based daily decision-making.
Recent years have seen increased adoption of Business Intelligence (BI) tools in various industries, including consumer services, technology, manufacturing industries & business services. It will continue to do so in the coming years. As per the latest survey by Beroe, Inc., the global BI market is estimated to reach USD 30.9 billion by 2022. The key factors driving this trend are big data analytics, demand for data-as-a-service, and self-service BI capabilities.