In a recent study by IDC, Brazil and Mexico are said to be the biggest markets for sales of big data solutions. The study predicts that both countries will drive growth in Latin America through to 2016.

Analysts at IDC estimate that revenue generated from big data – hardware, software and services – will grow from US$551 million in 2013 to US$6.59 billion by 2018, a compound annual growth rate of 64% for 2013-2018.

Furthermore, the study estimates that 40 percent of Latin American firms make “moderate or high usage of analysis over structured and unstructured data sources,” although it was noted that the majority of this percentage is attributed to Brazil and Mexico. By 2017, however, Latin America will see a shift in growth rate; IDC expects Chile, Peru and Colombia to exceed the growth rate of Mexico and Brazil.

Some notable findings were found in the region in terms of big data budgets. Only 9% of the budget goes towards innovation, while nearly half is dedicated to operations. With this being said, “data exploration, analysis and management tools are the fastest growing category of software sales in Latin America, followed by CRM applications, storage solutions and middleware.”

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(Image Credit: matthew hosford)