Big data a big market
COMPUTING| March 11, 2012, 2:01 p.m.
International Data Corporation) expects the worldwide Big Data technology and services market to grow from USD3.2 billion in 2010 to USD16.9 billion in 2015. This represents a compound annual growth rate (CAGR) of 40% or about 7 times that of the overall information and communications technology (ICT) market.
Dan vesset, program vice president, Business Analytics Solutions, at IDC says: "The Big Data market is expanding rapidly as large IT companies and startups vie for customers and market share. For technology buyers, opportunities exist to use Big Data technology to improve operational efficiency and to drive innovation. Use cases are already present across industries and geographic regions.
"There are also Big Data opportunities for both large IT vendors and start ups," Vesset continued. "Major IT vendors are offering both database solutions and configurations supporting Big Data by evolving their own products as well as by acquisition. At the same time, more than half a billion dollars in venture capital has been invested in new Big Data technology."
IDC said the growth in appliances, Cloud, and outsourcing deals for Big Data technology will likely mean that over time end users will pay increasingly less attention to technology capabilities and will focus instead on the business value arguments. System performance, availability, security, and manageability will all matter greatly. However, how they are achieved will be less of a point for differentiation among vendors.
The report also noted that there is a shortage of trained Big Data technology experts, in addition to a shortage of analytics experts. It said this labour supply constraint would act as an inhibitor of adoption and use of Big Data technologies, and it will also encourage vendors to deliver Big Data technologies as cloud-based solutions.
"While software and services make up the bulk of the market opportunity through 2015, infrastructure technology for Big Data deployments is expected to grow slightly faster at 44% CAGR. Storage, in particular, shows the strongest growth opportunity, growing at 61.4% CAGR through 2015," said Benjamin S.Woo, program vice president, Storage Systems at IDC.
MORE COMPUTING NEWS
WiniGroup, Ivetec train 500 Babcock lecturers on TCCDRThe 500 lecturers of Babcock University, Ilishan-Remo, Ogun State, have undergone a comprehensive training on technology usage on the platform of Total Classroom & Campus Digital Revolution (TCCDR) Project embarked upon by the university, which will see all their lecture rooms wirelessly connected. Read More
MainOne supports call for in-country data hostingThe management of MainOne’s Tier III Data Center, MDX-i is lending its voice to the call by the Office for Nigerian Content in Information and Communication Technology for Nigerian companies to host their data in-country, to avoid further foreign exchange losses. Read More
The importance of big data for Africa in 2016Understanding big data, as a concept and an offering, will have a massive impact on the African continent, says PBT Group. Read More
Ericsson Data Analytics solution captures rise of the Internet of ThingsEricsson has launched the User & IoT Data Analytics solution that will help operators improve internal efficiency in managing data from subscribers and Internet of Things (IoT) devices while exploring new cross-vertical IoT applications. Read More
More network decomposition expected in 2016Jason Dover, Director of Product Line Management at KEMP Technologies, looks at the changing network and more technology trends to look out for in 2016. Read More
Automotive Display Systems to grow to $18.6bn by 2021Driven by continued innovation in vehicle connectivity and safety technologies, global revenue from automotive display systems will grow at a compound annual growth rate (CAGR) of more than 11 percent to $18.6 billion by the end of 2021, says IHS. Read More
Rack Centre honoured with Data Centre Impact AwardRack Centre, Nigeria’s Premium Data Centre provider, has won the 2015 Data Centre Dynamics Award for Europe, Middle East and Africa (EMEA) region in the Data Centre Impact Category. Read More
ITU members agree international standard for Big DataITU members have approved the first ITU standard on Big Data. The international standard details the requirements, capabilities and use cases of cloud-based Big Data as well a high-level ‘system context’ view and its relationships with other entities. Read More
Ovum: move to digital services biggest telco IT trend to watch in 2016Personalising the customer experience, improving operational efficiency and moving to new delivery models are some the top IT trends to expect from telcos in 2016, according to global analyst firm Ovum. Read More
FEATURED STORYViber Spreads Good Vibes in Africa with the introduction of public chats
Viber, one of the leading messaging and calling apps with more than 664 million unique users worldwide, has opened its latest social channel ‘Public Chats’ to partners in Africa and the Middle East.
BEST READ NEWS
IN DEPTHPoised for greater heights – Roshi Motman, AfricaCom CEO of the Year Winner
Roshi Motman is not your average CEO. Since taking up the reins as the first female CEO of Tigo Ghana in 2014, she has led the Tigo brand through a remarkable transformation.