Skip to main content

Global Big Data Market will Reach $32.4 Billion by 2017

According to the latest market study by International Data Corporation (IDC), the Big Data technology and services market will grow at a 27 percent compound annual growth rate (CAGR) to $32.4 billion through 2017.

Expect to hear more about Big Data and associated analytics software in 2014. To put this forecast into perspective, consider that's about six times the growth rate of the overall information and communication technology (ICT) market.

Although there are multiple scenarios that could unfold and many demand and supply variables remain in flux, IDC expects the market to exhibit strong growth over the next five years.

"The Big Data technology and services market represents a fast-growing multi-billion dollar worldwide opportunity," said Dan Vesset, Vice President at IDC. "The Big Data market is expanding rapidly as large IT companies and start-ups vie for customers and market share."

Because of the rapidly developing nature of this market, IDC continues to review its methodology and forecast assumptions on an ongoing basis.

In fact, IDC made a number of changes to the Big Data market sizing and forecast presented in this latest global market assessment. They have included the addition of infrastructure software -- such as security and datacenter management -- and high performance data analysis (HPDA).

IDC says that the company now considers HPDA to be a portion of High Performance Computing (HPC) market that fits within IDC definition of the overall Big Data landscape.

Additional findings from the market study include:
  • The growth of individual segments of the market varies with cloud infrastructure having the highest CAGR of 49 percent through 2017.
  • Decision automation solutions based on Big Data technology will increasingly begin to replace or significantly impact knowledge worker roles.
  • A significant amount of data that can be described as Big Data in the data centers will either get disposed of or archived to the cloud, which will result in lower revenue for traditional storage in the data centers.

Popular posts from this blog

Digital Talent Demand Exceeds Supply in Asia-Pac

Even the savviest CEO's desire for a digital transformation advantage has to face the global market reality -- there simply isn't enough skilled and experienced talent available to meet demand. According to the latest market study by IDC, around 60-80 percent of Asia-Pacific (AP) organizations find it "difficult" or "extremely difficult" to fill many IT roles -- including cybersecurity, software development, and data insight professionals. Major consequences of the skills shortage are increased workload on remaining digital business and IT employees, increased security risks, and loss of "hard-to-replace" critical transformation knowledge. Digital Business Talent Market Development Although big tech companies' layoffs are making headlines, they are not representative of the overall global marketplace. Ongoing difficulty to fill key practitioner vacancies is still among the top issues faced by leaders across industries. "Skills are difficul

How Cloud Fuels Digital Business Transformation

Across the globe, many CEOs invested in initiatives to expand their digital offerings. User experience enhancements that are enabled by business technology were a priority in many industries. Worldwide end-user spending on public cloud services is forecast to grow 21.7 percent to a total of $597.3 billion in 2023 -- that's up from $491 billion in 2022, according to the latest market study by Gartner. Cloud computing is driving the next phase of digital transformation, as organizations pursue disruption through technologies like generative Artificial Intelligence (AI), Web3, and enterprise Metaverse. Public Cloud Computing Market Development "Hyperscale cloud providers are driving the cloud agenda," said Sid Nag, vice president at Gartner . Organizations view cloud computing as a highly strategic platform for digital transformation initiatives, which requires providers to offer new capabilities as the competition for digital business escalates. "For example, generativ

Mobile Device Market Still Awaiting Recovery

The mobile devices market has experienced three years of unpredictable demand. The global pandemic, geopolitical pressures, supply chain issues, and macroeconomic headwinds have hindered the sector's consistent growth potential. This extremely challenging environment has dramatically affected both demand and supply chains. It has led to subsequent inflationary pressures, leading to a worsening global cost of living crisis suppressing growth and confidence in the sector. In tandem, mobile device industry stakeholders have become more cautious triggering market uncertainties. Mobile Device Market Development Operating under such a backdrop, the development of mobile device ecosystems and vendor landscapes have been impacted severely. Many of these market pressures persisted throughout 2022 and now into 2023, borne chiefly by the smartphone market. According to the latest worldwide market study by ABI Research, worldwide smartphone shipments in 2022 declined 9.6 percent Year-over-Year