Big data technology market to grow $32.4 billion in 2017

The big data technology and services market will grow at a 27 per cent compound annual growth rate (CAGR) to $32.4 billion (£19.81 billion) through to 2017, a study has found.

The International Data Corporation (IDC) noted that this will be six times the growth rate of the overall information and communication (ICT) market, but admitted many scenarios could occur, putting demand and supply variables in flux.

Other discoveries were that the growth of individual segments of the market differs, as cloud infrastructure has the highest CAGR of 49 per cent through to 2017.

As well as this, big data technology will increasingly begin to replace or impact knowledge worker roles, while IDC also noted that a substantial amount of big data in data centres will either be disposed of or archived to the cloud.

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