Wikibon: Big Data market to reach $50 Billion by 2018
New Big Data Vendor market analysis projects growth from $18.6B is 2013 to $50B by 2017, driven by maturing technology and better focus on enterprise-grade capabilities. Lack of best practices and concerns over security and privacy remain major obstacles.
Wikibon latest update to Big Data Vendor Revenue and Market Forecast 2013-2017, posted by Jeff Kelly, indicates that Big Data market has reached $18.6B in 2013, growing 58% over the past year.
Of this amount,
- Big Data-related services revenue were 40%
- Hardware - 38%
- Software - 22%.
Wikibon comments that such breakdown is due partly to the open source nature of much Big Data software.
Wikibon lists several main drivers for the growth of Big Data market in 2013:
- Vendors better articulated their product & services roadmaps and larger visions for Big Data in the enterprise, creating greater confidence from enterprise buyers.
- The products and services related to Big Data continued to mature
- New technologies for enterprise-grade capabilities are appearing, including better privacy, security and governance capabilities, and improved backup & recovery for Hadoop.
The main barriers for adoption include
- A lack of best practices for integrating Big Data analytics into existing business processes and workflows.
- Concerns over security and data privacy
Here are the revenues of companies whose main focus was "Big Data" - their "Big Data" revenue was over 50% of their overall revenue. Only Pivotal had a non-zero % for hardware revenue - for all other companies in the table below, hardware revenue was zero.
2013 Worldwide Big Data Revenue by Vendor ($US millions)
(source: Wikibon Big Data Vendor Revenue and Market Forecast 2013-2017).
|Company||2013 Total Revenue||% Big Data Software Revenue||% Big Data Services Revenue|
|Think Big Analytics||$10||0||100|