The “Big Data” technology and services market will grow about six times as a fast as the overall information and communications technology (ICT) market, increasing at a rapid 27% compound annual growth rate (CAGR) to reach $32.4 billion through 2017, according to a new report from IDC.
“The Big Data technology and services market represents a fast-growing multibillion-dollar worldwide opportunity,” commented Dan Vesset, vice president for IDC’s Business Analytics and Big Data research. “The Big Data market is expanding rapidly as large IT companies and start-ups vie for customers and market share.”
According to IDC’s, “Worldwide Big Data Technology and Services 2013-2017 Forecast”:
- The growth of individual segments of the market varies, with cloud infrastructure having the highest CAGR of 49% 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.
“Because of the rapidly developing nature of this market, IDC continues to review the methodology and forecast assumptions on an ongoing basis,” added IDC research director, Storage Systems and Big Data research Ashish Nadkarni.
“IDC made a number of changes to the Big Data market sizing and forecast presented in this document, including the addition of infrastructure software, such as security and data center management, and high performance data analysis (HPDA), which the company considers to be a portion of the High Performance Computing (HPC) market that fits within IDC’s Big Data definition.”
Image courtesy of flickr user Waleed Alzuhair .