The Big Data market is on the verge of a rapid growth spurt that will see it near the $50 billion mark worldwide within the next five years. The analysis in this in-depth research report highlights Wikibon’s five-year forecast for the Big Data market as a whole as well as vendor revenue estimates. It includes full analysis of the leading market growth catalysts and advice for enterprise CIOs and business leaders looking to capitalize on Big Data and business analytics.
The hype surrounding Big Data, which showed no signs of abating in 2012, now has big dollars backing it up. Factory revenue generated by the sale of Big Data-related hardware, software and services took a major step forward in 2012, growing by 59% over 2011. The total Big Data market reached $11.59 billion in 2012, ahead of Wikibon’s 2011 forecast. The Big Data market is projected to reach $18.1 billion in 2013, an annual growth of 61%. This puts it on pace to exceed $47 billion by 2017. That translates to a 31% compound annual growth rate over the five year period 2012-2017.