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Big Data to Grow Sixfold at CAGR of 50% by 2019 - Ovum

Big Data to Grow Sixfold at CAGR of 50% by 2019 - Ovum Image Credit: IBM

The big data software market is expected to grow at a CAGR of 50%, increasing nearly sixfold by 2019, according to Ovum’s latest report - Ovum Software Market Forecasts: Information Management 2015. The leading market research firm expects the segment to play an increasingly important role that will position big data analytics as a core capability for many enterprises by 2019.

The other segments within big data, namely Business intelligence (BI) and analytics are also expected to contribute significantly to the growth, said Ovum, almost doubling by 2019 from a market size of US$15.85bn in 2015. Day-to-day data management remains the largest part of the market, according to the report, accounting for in excess of 40% of total spend at US$24.1bn in 2015.  

Tom Pringle, Practice Leader and Co-Author of the Report
The experimental era of big data is coming to an end, organizations are formalizing their use of big data technology to realize the business value they expect to find. Self-service BI, enabling a whole new universe of users, is driving the expansion of the market. With easier to use self-serve tools becoming mainstream, and moves to the cloud and mobile providing accessibility, barriers to growth in this market are being eroded.

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

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