The most popular and comprehensive Open Source ECM platform
Let us know more
Big Data: Data and Analytics are Driving the Creation of new Vertical Market Applications
Another report on Big Data market growth was recently made available by Orbis Research. The report estimates that the size of Big Data market will grow to $57 billion in 2017, a figure that includes hardware, software and professional services and is growing at 10 percent annually. By 2020, Orbis says that Big Data will be a $76 billion market.
Exactly how the Big Data market is carved out and defined differs among the analysts. IDC’s estimate of the Big Data/Analytics market, for example, is more than double the Orbis’ estimate ($130 billion in 2016 and growing at 11 percent annually).
The Orbis report also estimates that by the end of the year that about 30 percent of Big Data will be processed in the cloud.
It said that “amid the proliferation of real-time data from sources such as mobile devices, web, social media, sensors, log files and transactional applications, big data has found a host of vertical market applications, ranging from fraud detection to scientific R&D.”
The Orbis report found that governments recognize value in data and are trying to develop frameworks for enabling the collection of data while still ensuring privacy and intellectual property protection. This work is expected to encourage and accelerate work by businesses to develop applications that can utilize data.
