Share with your friends










Submit

Analytics Magazine

IDC forecasts big growth for Big Data

International Data Corporation (IDC) recently released a worldwide Big Data technology and services forecast showing the market is expected to grow from $3.2 billion in 2010 to $16.9 billion in 2015. This represents a compound annual growth rate (CAGR) of 40 percent or about seven times that of the overall information and communications technology (ICT) market.

“The Big Data market is expanding rapidly as large IT companies and startups vie for customers and market share,” says Dan Vesset, program vice president, Business Analytics Solutions at IDC. “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,” Vesset continues. “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.”

Additional findings from IDC’s study include the following:

• 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.

• The growth in appliances, cloud 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.

• 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.

The study, Worldwide Big Data Technology and Services 2012-2015 Forecast (IDC #233485) examines the Big Data technology and services market for 2010–2015. IDC defines Big Data technologies as a new generation of technologies and architectures designed to extract value economically from very large volumes of a wide variety of data by enabling high-velocity capture, discovery, and/or analysis. Further, the study segments the Big Data market into server, storage, networking, software and services segments.

 

Related Posts

  • 77
    As one of the premier indicators of the flourishing self-service movement within the datasphere, semantically enriched smart data lakes provide a means for business users to access and analyze big data on an unprecedented, enterprise-wide scale. The enduring relevance of these platforms is almost entirely based on the value that…
    Tags: data, big
  • 65
    To download a PDF of a white paper please click on cover images and fill out the brief information form. Eight Industries Changed by Big Data From Harrisburg University Looking to make a real impact on your career?  Expand your knowledge of Big Data with Harrisburg University of Science and…
    Tags: data, technology, big
  • 62
    FEATURES Fulfilling the promise of analytics By Chris Mazzei Strategy, leadership and consumption: The keys to getting the most from big data and analytics focus on the human element. How to get the most out of data lakes By Sean Martin A handful of requisite business skills that facilitate self-service…
    Tags: data, big, services
  • 53
    May/June 2014 By (l-r) Pramod Singh, Ritin Mathur, Arindam Mondal and Shinjini Bhattacharya “There is a big data revolution. However, what is revolutionary is not the quantity of data alone. The big data revolution is that now we can do something with the data.” – Professor Gary King, Harvard University…
    Tags: data, big
  • 53
    November/December 2014 Big data needs advanced analytics, but analytics does not need big data. By Eric A. King Thanks big data! Now we’re even more data-rich … yet remain information-poor. After staggering investments motivated by an overabundance of buzz and hype, big data has yet to produce cases that reveal…
    Tags: data, big, will
Tags

Related Articles

Headlines

ITIF: Expand computer science education to keep up with demand

Computer skills are in high demand among employers in a wide range of industries, not just tech-related fields, yet despite growing interest in the subject, a new report from the Information Technology and Innovation Foundation (ITIF) finds that too few U.S. students are taking quality computer science classes at the high school and university levels. ITIF makes the case for public action to support and maintain the groundswell of interest in computer science and capture the economic and social benefits that will come from fostering a more highly skilled workforce. Read more →

Report outlines benefits of data-driven customer experiences

According to a new report by Forbes Insights and SAS, “Data Elevates the Customer Experience: New Ways of Discovering and Applying Customer Insights,” the benefits of brands evolving to data-driven customer experiences (data-driven CX) are wide-ranging. The study notes data-driven methods enhance revenue generation and enable cost reduction, as well as accelerate process efficiencies and quality improvements. Read more →

Debunking myths about harm from artificial intelligence

Artificial intelligence (AI) holds great promise for economic growth and social progress, but pervasive, inaccurate myths about hypothetical harms could encourage policymakers to retard further innovation in the technology, according to a new report from the Information Technology and Innovation Foundation (ITIF). ITIF, a leading tech policy think tank, makes the case that policymakers should actively support further development and use of artificial intelligence if we want society to reap the myriad benefits it has to offer. Read more →

Report: Technology rarely used to detect fraud

Technology is an important tool to help companies fight fraud, but many are not succeeding in using data analytics as a primary tool for fraud detection. Meanwhile, fraudsters are leveraging technology to perpetrate fraud, according to a new report by KPMG International, “Global Profiles of the Fraudster.” Read more →

CAP® EXAM SCHEDULE

CAP® Exam computer-based testing sites are available in 700 locations worldwide. Take the exam close to home and on your schedule:


 
For more information, go to 
https://www.certifiedanalytics.org.