Big data vendors are predicted to reach nearly $30 billion by the end of 2014, according to a report "Big Data Market: 2014-2020" from Signals and Systems Telecon. Big data investments also are expected to grow 17% during the next 6 years, eventually reaching $76 billion from hardware, software and professional service vendors by 2020.
Originally used to describe datasets whose size is beyond the ability of traditional databases, big data has expanded to include a set of technologies that capture, store, manage and analyze large and variable collections of data to solve complex problems.
Hardware sales and professional services account for more than 70% of big data investments. Large growth will come from vertical market applications, ranging from fraud to R&D. Software vendors, particularly those involved in analytics, will significantly increase their stake in the market, the report states.
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