"Big data" software to grow by 50 per cent: Ovum
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THE "big data" software market will grow six-fold by 2019, according to Ovum.
“The experimental era of big data is coming to an end. Organisations are formalising their use of the technology to realise the business value they expect to find,” Tom Pringle, practice leader and co-author of the forecast, said yesterday.
While big data software is just a small fraction of the market for information management, it is set to increase at 50 per cent a year through 2019 and play an increasingly important role that will position big data analytics as a core capability for many enterprises by 2019.
“Big data, as an open source technology, has been accessible without creating a huge financial impact on the market.
“Ovum believes that situation is changing, with commercial Hadoop distributions and a fast-growing ecosystem of enabling and extending technologies pointing toward a bright future for big data,” he said.
The market for information management software is growing by 11 per cent per year. Besides big data, business intelligence (BI) and analytics are also strongly contributing to growth – close to doubling by 2019, from a market size of US$15.85 billion (Bt537.5 billion) this year.
“Self-service BI, enabling a whole new universe of users, is driving the expansion of the market,” he said.
“With easier-to-use self-serve tools becoming mainstream, and moves to the cloud and mobile providing accessibility, barriers to growth in this market are being eroded.”
Day-to-day data management remains the largest part of the market, accounting for in excess of 40 per cent of total spend at $24.1 billion in 2015.
Even as the biggest dollar spend on information management, data management continues to grow strongly by 9 per cent annually to 2019.
“This expansion speaks not only to the growth in data volumes, but also the newer challenges of managing a much more heterogeneous range of data types and the speed with which those data are generated,” he said.
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