Big Data cash-splash ‘to create $115bn industry by 2019’
Explosion in data will fuel market expansion, with databases leading the charge, says 451 Research
A surge in Big Data spending will value the total data market at $115 billion by 2019, according to 451 Research.
Increased outlay on tools and platforms to deal with exploding volumes of Big Data means the overall market is to expand by a 14 per cent compound annual growth rate over the next four years, the analyst house believes.
This would put the market's value at nearly double the $60 billion it produced in 2014, thanks to the vast amount of data being created by then.
In fact, IDC's Digital Universe study last year forecasted a ten-fold increase in Big Data come 2020, growing from around 4.4 zettabytes in 2014 to 44 zettabytes six years later.
And 451 Research's Matt Aslett, research director for data platforms and analytics channel, said: "The market continues to evolve and new approaches have emerged that more efficiently store and process data, while also providing access to those that need it to analyse it and gain business insight."
The predictions are based on 451 Research's Total Data Market Monitor service, which analysed 202 vendors working in databases, reporting and analytics, data management, performance management, Hadoop and search.
The 56 operational database firms will produce the majority of the predicted revenue, 451 said, with all other segments save reporting analytics and analytic databases generating less than $1 billion each.
Aslett added: "Our research illustrates the dichotomy inherent in the data platform and analytics market: while it is smaller start-ups in emerging sectors that are growing the fastest, the incumbent providers in established markets are likely to contribute the greatest value over the next five years."
Gartner predicts Big Data will explode over the next five years, with the Internet of Things producing 25 billion connected devices by 2020.
How to choose an AI vendor
Five key things to look for in an AI vendorDownload now
The UK 2020 Databerg report
Cloud adoption trends in the UK and recommendations for cloud migrationDownload now
2021 state of email security report: Ransomware on the rise
Securing the enterprise in the COVID worldDownload now
The impact of AWS in the UK
How AWS is powering Britain's fastest-growing companiesDownload now