A new report states that companies are still spending a lot of money on databases, despite having to reassess their spending in an increasingly difficult economy.
The findings of IDC (opens in new tab) State structured databases and data management accounted for the bulk of IT infrastructure spending in the first half of 2022.
The analyst firm’s report shows that a total of $6.3 billion was spent on computing and storage infrastructure, such as servers, over the period, representing a 2.2% year-over-year increase.
Five-Year IDC Forecast
The report also reveals the massive $41.1 billion spending in the “Data Management” category, which includes AI Lifecycle, Business Intelligence and Analytics, Structured Database/Data Management, Text and Media Analytics, and Unstructured Database, in 2022, and an amount that will only increase, at a compound annual growth rate of 9%, with this figure reaching $56.3 billion by 2026.
More specifically, data management spending will reach $23.8 billion and $32.8 billion for shared and dedicated environments, respectively, by 2026, making it one of the fastest-growing categories of infrastructure spending.
Business Applications and Email/Collaborative & Content Applications are lagging behind. Infra again occupies a slightly smaller market segment, followed by the much smaller Digital Services, Technical Applications and Application Development & Test sectors.
Elsewhere, IDC reports a compound annual growth rate of 6.2% cents for on-premises spending, compared to 14.8% for the cloud as companies move to cloud computing models.
This growth is positive news for technology giants and computer manufacturers who will continue to evolve in an effort to conquer more of their respective markets.
Through The register (opens in new tab)