IDC expects that the market for Big Data grows by almost 40% a year, growing from 3.2 billion Dollars a year to 16.9 billion Dollars per year. This is a huge growth and means almost 40% growth per year. IDC also states that the market for Big Data grows 7-times as fast as the rest of the IT market.
There are several opportunities for companies that are already familiar with Big Data technologies, but also challenges for those companies that are not yet into this type of technology. IDC currently sees the following trends in the Big Data market:
- There are tremendous opportunities for vendors of Big Data technologies on nearly all levels of the Big Data stack. The stack includes the infrastructure Layer (including Storage, Compute Power, Networking, …), the Data Storage and Management Layer (including Databases), the Analysis Layer (Software for Analysation) and the Decision Support and Automation Layer.
- Companies already familiar with Big Data Technologies can gain competitive advantage over Companies that are not familiar with Big Data. Big Data is not a simple discipline, it is made up of different disciplines.
IDC states that within the Big Data Stack, each market grows at a different pace. Storage grows by more than 60%, whereas Compute only grows by 27%.
End users that are interested in Big Data might join the IDC Big Data and Business Analytics Forum in Vienna on the 28th of October 2012. The conference is held at the Grand Hotel. Industry Leaders, Researchers as well as IDC Analysts will give an overview and insights into the Big Data Technology. Informations can be obtained here.
What do you think? What is your opinion on Big Data? Leave a comment below to join the discussion!