Wikibon predicts Big Data market to top $61B in 2020
Wikibon has extended its “Big Data Vendor Revenue and Market Forecast, 2011-2020” through 2020 and has estimated a 40 percent market growth in 2014, down from 60 percent in 2013. In his executive summary of the report, Wikibon Big Data analyst Jeff Kelly writes this is a product of ongoing market maturation and does not indicate a structural market issue.
Overall, the market for Big Data hardware, software and professional services totaled $27.36 billion, up from $19.60 billion in 2013. Growth in Big Data, while slower than last year, is still considerably greater than other enterprise IT markets. Wikibon predicts a 26 percent compound annual growth rate over the nine-year period from 2011 to 2020, to $61 billion (see graphic above).
The full report, which is available to Wikibon Premium members, includes a vendor-by-vendor revenue breakdown or more than 60 vendors, a detailed breakdown of the current market and growth forecasts for sub-segments, qualitative analysis of the macro-environment associated with each sub-segment, and an expanded qualitative analysis of market drivers, headwinds, and other underlying assumptions supporting the forecast.
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