Spending on business analytics services will reach $89.6bn (£55.2bn) by 2018 worldwide, according to a report by IDC.
The report predicts spending on business analytics will rise by a 14.7 per cent compound annual growth rate.
IDC believes business analytics spending will be $51.6bn for 2014.
Ali Zaidi, senior research analyst at IDC, said: "Talent shortage coupled with the high interest in adoption of new technologies will continue to drive growth in business analytics services spending at the worldwide level."
"In addition, the desire to consume the entire life cycle of business analytics services will drive spending growth across all business analytics services lines in the near future."
The report found that there was a dip in spending growth in 2013, but growth still remained in double digits.
Mukesh Dialani, research director at IDC, said: "As more business data gets consolidated and is made available to executives, outsourced big data and analytics services will continue to get embedded and pervade deeper into the enterprise."
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