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Big Data: Expected to Grow By A Factor of Six Before 2019
The Big Data market will grow by 50 percent or more over the next four years, says market analyst group Ovum. At that rate, the market will grow by a factor of six by 2019. The growth of Big Data stands in contrast to the growth of the overall information management software market which is seeing a significantly slower growth rate of 11 percent annually. Ovum expects big data analytics to become a core capability at many companies.
Tom Pringle, Practice Leader at Ovum, said that “The experimental era of big data is coming to an end, organizations are formalizing their use of big data technology to realize the business value they expect to find… Big data, as an open source technology, has been accessible without creating huge financial impact on the market. Ovum believes that situation is changing, with commercial Hadoop distributions and a fast-growing ecosystem of enabling and extending technologies pointing toward a bright future for big data.”
The report finds though that while Big Data is seeing spectacular growth, most companies are still focused on the day-to-day management of data in their businesses and that’s the area where the largest chunk of money IT data management money is being spent.
