The big data software market will grow nearly six-fold by 2019, according to a recent report from Ovum.
The report notes that while big data software in 2015 is just a small part of the overall market for information management, it is set to increase at a compound annual growth rate (CAGR) of 50% through 2019, and play an increasingly important role that will position big data analytics as a core capability for many enterprises by 2019.
“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,” Tom Pringle, practice leader at Ovum and co-author of the report, said in a statement.
“Big data, as an open source technology, has been accessible without creating huge financial impact on the market,” Pringle said. Ovum thinks that situation is changing, with commercial Hadoop distributions and a fast-growing ecosystem of enabling and extending technologies pointing toward a “bright future for big data,” he said.
The report says the overall market for information management software is growing at a CAGR of 11%. Aside from the major impact of big data’s growth, business intelligence (BI) and analytics are also strongly contributing to growth.
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