Big Data 2013 – Future Trends In The Industry
Big data is one of the most modern and latest fields of business in the realm of information technology industry. The major problem associated with this business is that it did not receive much importance in the past decade, which aggregated the problems in this domain of industry.
Unexplored and damped data have amassed, with every corporation comprising a huge business intelligence but there was not any recognized technology to find out the useful information from this gigantic heap of data. This situation has changed a lot. Many companies are aggressively working in this domain of business, including IBM, Intel, and HP.
The big data industry is swelling exponentially – as much as $5.1 billion volume of the industry was recorded in the year 2011. A huge growth is being noticed with the passage of every quarter in this industry. Many new industries are investing huge amounts in research and development to capture the maximum share in this progressive market of business. All big companies like IBM, HP, Intel, Dell, Seagate, Accenture, Fujitsu, Teradata, and many others are getting more and more shares in this domain of the market.
The above mentioned companies have overall revenue in big data business more than $100 million; IBM is leading the others with more than $900 million, followed by Intel and HP. The share of Intel is about $750+ million while HP stands at overall revenue of about $500+ million. This trend is growing very fast with every passing year. It is being anticipated that the overall revenue of the big data industry will be more than $54.3 billion in 2017. This is one of the most astonishing growth rates that present industries are recording.
It has been recorded that the average growth of corporate data is more than 94 percent and other sectors are also recording a substantial growth in their data. The major portion of the corporate data growth is being recorded in the area of databases.
One very important factor is that the effect of the growth in big data is exponential because every company is increasing the efficiency of their services, which triggers growth in the consumption and usage of the services, ultimately increasing the volume of the data. Thus, the growth of big-data volume is circular and keeps increasing exponentially, and so will the big-data industry.
By Walter Bailey
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