Big Data technology is set to surge to nearly $50 billion by 2019. The report claims that software will be the main growth driver. The Big Data market is growing at a compound annual growth rate (CAGR) of 23.1 per cent over the 2014-19 forecast period with annual spending reaching US $48.6 billion in 2019.
“The ever-increasing appetite of businesses to embrace emerging big data-related software and infrastructure technologies while keeping the implementation costs low has led to the creation of a rich ecosystem of new and incumbent suppliers,” said Ashish Nadkarni, Programme Director, Enterprise Servers and Storage and co-author of the report with Dan Vesset, Programme Vice President, Business Analytics & Big Data.
As per the report, all the three sectors of Big Data market- infrastructure, software and services will grow over the next five years. The industry sectors are interested in big data but the largest sector is discreet manufacturing, banking and process manufacturing.
Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.
"Exciting news! Elets technomedia is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!
