ENTRIES TAGGED "market growth"

Strata Week: The complexities of forecasting the big data market

IDC forecast underestimates big data growth, EU report sounds an alarm over FISA Amendments Act, and big data's growing role in daily life.

Here are a few stories from the data space that caught my attention this week.

Big data needs a bigger forecast

The International Data Corporation (IDC) released a forecast this week, projecting “the worldwide big data technology and services market will grow at a 31.7% compound annual growth rate (CAGR) — about seven times the rate of the overall information and communication technology (ICT) market — with revenues reaching $23.8 billion in 2016.”

According to the press release, findings from IDC’s research also forecasted specific segment growth, including 21.1% CAGR for services and 53.4% for storage. GigaOm’s Derrick Harris says IDC’s research “only tells part of the story” and that the market will actually be much bigger. For instance, Harris notes that the report doesn’t include analytics software, a critical component of the big data market that the IDC predicts will hit $51 billion by 2016. And what of the outliers? Harris writes:

” .. .where does one include the rash of Software-as-a-Service applications targeting fields from marketing to publishing? They’re all about big data at their core, but the companies selling them certainly don’t fit into the mold of ‘big data’ vendors.”

Harris highlights potential problems the IDC might have in maintaining their report segments — servers, storage, networking, software and services — with more and more cloud providers hosting big data applications and startups offering cloud-based big data services; calculating these revenues will be no easy feat, he writes. You can read Harris’ piece in full at GigaOm.

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