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Big Data: Explosive Growth of Data Analytics and Big Data Predicted Through 2015
Big Data and the related data analytics market segment are expected to grow 40 percent over the next three years, taking taking 2010’s annual market size of $3.2 billion to $16.9 billion by 2015. That’s the prediction from IDC. Big Data is growing at a rate of about 7 times the general information and communications technology market. Within Big Data, individual segment growth includes 27.3 percent for servers, 34.2 percent for software, and 61.4 percent for storage.
Venture money is flowing into Big Data. As much as $500 million has flowed into Big Data startups. Examples include Mu Sigma which raised $108 million, Cloudera which received $36 million , Karmasphere raised $11 million, and Datameer $11.75 million. IBM, Oracle and Microsoft are also investing heavily in the Big Data space.
Dan Vesset, IDC analyst, said that “The Big Data market is expanding rapidly as large IT companies and start-ups vie for customers and market share. For technology buyers, opportunities exist to use Big Data technology to improve operational efficiency and to drive innovation. Use cases are already present across industries and geographic regions… There are also Big Data opportunities for both large IT vendors and start-ups. Major IT vendors are offering both database solutions and configurations supporting Big Data by evolving their own products as well as by acquisition. At the same time, more than half a billion dollars in venture capital has been invested in new Big Data technology… There’s a lot of talk of whether (data analytics) will replace relational databases but it’s been complementary so far. We’re in the very early stages.”
In their report, IDC attempts to more clearly define exactly what Big Data is, something about which there has been much debate. To do that, IDC recognizes the following possible scenarios for identifying when Big Data is involved:
- Big Data systems are those that process, collect and store over 100TB of data
- Big Data systems manage data sets growing at least 60 percent annually
- Big Data systems use ultra-high-speed messaging to capture and monitor data in real time — data ‘in motion’, as opposed to data ‘at rest’
- Big Data systems process data using scale-out architectures running on clustered servers and storage
