Big Data technology and services market will grow at a 27 percent compound annual growth rate (CAGR) to $32.4 billion through 2017, said IDC.
The growth of Big Data will be about six times the growth rate of the overall information and communication technology (ICT) market.
Dan Vesset, vice president for IDC’s Business Analyticsand Big Data research, said: “The Big Data market is expanding rapidly as large IT companies and start-ups vie for customers and market share.”
The growth of individual segments of the market varies with cloud infrastructure having the highest CAGR of 49 percent through 2017.
Decision automation solutions based on Big Data technology will increasingly begin to replace or significantly impact knowledge worker roles.
A significant amount of data that can be described as Big Data in the data centers will either get disposed of or archived to the cloud, which will result in lower revenue for traditional storage in the data centers.