Big Data a $30 bn market in 2014, According to a New Study on ASDReports

Monday 16 June 2014, Amsterdam

The new report, now available on ASDReports, indicates that global spending on Big Data technology is expected to reach nearly $30 Billion by the end of 2014.  Originally used as a term to describe datasets whose size is beyond the ability of traditional databases, the scope of Big Data has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data to solve complex problems.

Amid the proliferation of real time data from sources such as mobile devices, web, social media, sensors, log files and transactional applications, Big Data has found a host of vertical market applications, ranging from fraud detection to R&D.

Despite challenges relating to privacy concerns and organizational resistance, Big Data investments continue to gain momentum throughout the globe. The new report estimates that Big Data investments will account for nearly $30 Billion in 2014 alone. These investments are further expected to grow at a CAGR of 17% over the next 6 years.

The “Big Data Market: 2014 – 2020” report presents an in-depth assessment of the Big Data ecosystem including key market drivers, challenges, investment potential, vertical market opportunities and use cases, future roadmap, value chain, case studies on Big Data analytics, vendor market share and strategies.  The report also presents market size forecasts for Big Data hardware, software and professional services from 2014 through to 2020. Historical figures are also presented for 2010, 2011, 2012 and 2013. The forecasts are further segmented for 8 horizontal submarkets, 15 vertical markets, 6 regions and 34 countries.