Wikibon Big Data Vendor Revenue and Market Forecast, 2020
Wikibon finds that Big Data market is maturing, with growth rate slowing from 60% in 2013 to 40% in 2014. Wikibon expects the Big Data market to top $61 billion in 2020.
Wikibon recently extended its Big Data forecast
Wikibon: Big Data market to reach $50 Billion by 2018
to year 2020.
Wikibon writes that Big Data market continued its maturation in 2014, experiencing both significant growth as measured by vendor revenue associated with the sale of Big Data products & services and increased adoption of Big Data tools and technologies by large enterprises across vertical markets.
For the calendar year 2014, the Big Data market - as measured by revenue associated with the sale of Big Data-related hardware, software and professional services - reached $27.36 billion, up from $19.6 billion in 2013. While growing significantly faster than other enterprise IT markets, the Big Data market's overall growth rate slowed year-over-year from 60% in 2013 to 40% in 2014.
Wikibon expects the Big Data market to top $61 billion in 2020, a 26% compound annual growth rate for 2011-2020. After initial intense growth, Big Data market growth will slow considerably. This growth pattern is common to disruptive technology markets as they mature.
Figure 1: Wikibon Big Data Market and Forecast, 2011-2020
There were a number of factors driving growth of the Big Data market in 2014. They include:
Clients can visit premium.wikibon.com/big-data to access full report.
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Wikibon writes that Big Data market continued its maturation in 2014, experiencing both significant growth as measured by vendor revenue associated with the sale of Big Data products & services and increased adoption of Big Data tools and technologies by large enterprises across vertical markets.
For the calendar year 2014, the Big Data market - as measured by revenue associated with the sale of Big Data-related hardware, software and professional services - reached $27.36 billion, up from $19.6 billion in 2013. While growing significantly faster than other enterprise IT markets, the Big Data market's overall growth rate slowed year-over-year from 60% in 2013 to 40% in 2014.
Wikibon expects the Big Data market to top $61 billion in 2020, a 26% compound annual growth rate for 2011-2020. After initial intense growth, Big Data market growth will slow considerably. This growth pattern is common to disruptive technology markets as they mature.
Figure 1: Wikibon Big Data Market and Forecast, 2011-2020
There were a number of factors driving growth of the Big Data market in 2014. They include:
- The emergence and maturation of data warehouse optimization as a definitive, initial Big Data use case applicable across vertical markets.
- The continued maturation of Big Data products and services, particularly with regard to data governance, data transformation and data pipeline creation capabilities.
- The increasing establishment of Big Data-driven decision making as a key strategic priority in board rooms and C-suites across vertical market but particularly in the financial services, retail, healthcare and telecommunications industries.
Clients can visit premium.wikibon.com/big-data to access full report.
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