Big data market to be worth $48.6 billion in 2019

IBM client centre, Montpelier, FranceThe move by many companies to capitalise on the data they “harvest” means that big data technology and services will be worth as much as $48.6 billion in 2019.

That’s according to figures from IDC, which said that the compound annual growth rate (CAGR) of the sector between 2014 and 2019 is 34.1 percent.

All three sectors of the big data market – infrastructure, software and services – will grow over the next five years. Software – that includes information management, discovery, analytics and applications will show a CAGR of 22.7 percent.

All industry sectors are interested in big data but the largest sector is discrete manufacturing, banking and process manufacturing. However, companies with the fastest growth rates include securities and investment services and media.

Companies believe that developing big data and analytics gives them a competitive advantage whichever sector they’re in, according to Jessica Goepfert, a programme director at IDC.