Do it Yourself Data Analysis?
Gartner, Inc. predicts that by 2019, the analytics output of business users with self-service capabilities will surpass that of professional data scientists.
— Gartner, 2018 Gartner CIO Agenda Survey, January 2018
4,524 Job Openings
Data scientist was named the best job in America for three years running, with a median base salary of $110,000 and 4,524 job openings.
— Glassdoor’s 50 Best Jobs In America For 2018, January 2018
10% Have AI Expertise
Only 10% of internet users worldwide say they know and understand artificial intelligence technology, while about half (53%) say they know what AI is, and 30% have heard of it, but don’t know much about it.
— Qualtrics survey, March 2017
Technology Growth Rates
The size of the CAD software market is expected to reach $11.097 billion in 2023, growing at a compound annual growth rate (CAGR) of 6.9% from 2017 to 2023.
— P&S Market Research, “CAD Software Market by Technology, by Level, by Application – Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023,” July 2017
The global product lifecycle management (PLM) market was worth $40.26 billion in 2014, while expected to expand at a CAGR of 8.1% from 2015 to 2022, to reach $75.87 billion by the end of 2022.
— Transparency Market Research, “Product Lifecycle Management (PLM) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022,” September 2017
Cloud Computing: 13.38%
The total global public cloud computing market is expected to hit $411.4 billion in 2020, a CAGR of 13.38%. Infrastructure-as-a-Service (IaaS) is growing at a 23.31% CAGR. Software-as-a-Service (SaaS) revenue is growing at a 15.65% CAGR.
— Gartner, “Forecast: Public Cloud Services, Worldwide, 2015-2021, 2Q17 Update,” October 2017
The global simulation software market is expected to grow from $6.26 billion in 2017 to $13.45 billion by 2022, at a CAGR of 16.5%.
— Research and Markets, “Simulation Software Market by Component, Application, Vertical, Deployment Mode, and Region – Global Forecast to 2022,” December 2017
Simulation on the Cloud: 11.4%
The cloud-based simulation market reached $3.3 billion in 2016, and is expected to have a CAGR of 11.4% through 2025, reaching $8.5 billion.
— Transparency Market Research, “Cloud Based Simulation Application Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025.
Building a Digital Ecosystem
48% of companies are significantly investing in a digital ecosystem. Their top challenge, cited by 33% of respondents, is finding digital expertise to drive their approach.
SMB IT Spending
Total IT spending by small and medium-size businesses (SMBs) was expected to approach $568 billion in 2017 and increase by more than $100 billion to exceed $676 billion in 2021. In 2019 software and IT services spending are expected to both surpass hardware spending for the first time.
— IDC, “Worldwide Semiannual Small and Medium Business Spending Guide,” July 2017