A new IDC study says the market for big data technology and services will grow from $3.2 billion in 2010 to $16.9 billion in 2015.
research firm IDC has released a new forecast that shows the big data market is
expected to grow from $3.2 billion in 2010 to $16.9 billion in 2015.
Big data is a
new frontier in IT where data sets can grow so large that they become awkward
to work with using traditional database management tools. Thus, the need for
new and more tools, frameworks, hardware, software and services to handle this
emerging issue represents a huge market opportunity.
that the increased investment needed to support big data represents a compound
annual growth rate (CAGR) of 40 percent, or about seven times that of the
overall information and communications technology (ICT) market.
IBM, everyday business and consumer life creates 2.5 quintillion bytes of data
per dayso much that 90 percent of the data in the world today has been created
in the last two years alone. This data comes from everywhere: from sensors used
to gather climate information, posts to social media sites, digital pictures
and videos posted online, transaction records of online purchases, and from
cell phone GPS signals, to name a few.
data market is expanding rapidly as large IT companies and startups vie for customers
and market share," Dan Vesset, program vice president for Business
Analytics Solutions at IDC, said in a statement. "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.
while the five-year CAGR for the worldwide market is expected to be nearly 40
percent, the growth of individual segments varies from 27.3 percent for servers
and 34.2 percent for software to 61.4 percent for storage.
are also big data opportunities for both large IT vendors and startups,"
Vesset said. "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."
IDC said the growth in appliances, cloud computing and outsourcing deals for
big data technology will likely mean that over time end users will pay
increasingly less attention to technology capabilities and will focus instead
on the business value arguments. System performance, availability, security and
manageability will all matter greatly. However, how they are achieved will be
less of a point for differentiation among vendors.
IDC also said
today there is a shortage of trained big data technology experts, in addition
to a shortage of analytics experts. This labor supply constraint will act as an
inhibitor of adoption and use of big data technologies, and it will also
encourage vendors to deliver big data technologies as cloud-based solutions.
software and services make up the bulk of the market opportunity through 2015,
infrastructure technology for big data deployments is expected to grow slightly
faster at a 44 percent CAGR, Benjamin Woo, program vice president for Storage
Systems at IDC, said in a statement. Storage, in particular, shows the
strongest growth opportunity, growing at 61.4 percent CAGR through 2015. The
significant growth rate in revenue is underscored by the large number of new
open-source projects that drive infrastructure investments."
methodology for sizing the big data technology and services market includes the
evaluation of current and expected deployments that follow one of the following
where the data collected is over 100 terabytes (TB). IDC is using data collected, not stored, to account
for the use of in-memory technology where data may not be stored on a
of ultra-high-speed messaging technology for real-time, streaming data
capture and monitoring. This scenario represents big data in motion as
opposed to big data at rest.
where the data sets may not be very large today, but are growing very
rapidly at a rate of 60 percent or more annually.
IDC requires that in each
these three scenarios, the technology is deployed on scale-out infrastructure
and deployments that include either two or more data types or data sources or
those that include high-speed data sources, such as click-stream tracking or
monitoring of machine-generated data.