Public clouds are the future of enterprise big data analytics, and their use is creating the unified platform needed to fully gain its value.
Today’s big data analytics market is quite different from the industry or even a few years ago. The coming decade will see change, innovation, and disruption ripple through at every segment of this global industry.
In the recently published annual update to its market study, Wikibon, the analyst group of SiliconAngle Media, found that the worldwide big data analytics market grew at 24.5 percent in 2017 from the year before. (I work for Wikibon.)
This was faster than forecast in the previous year’s report, owing largely to stronger-than-expected public cloud deployment and utilization as well as accelerating the convergence of platforms, tools, and other solutions. Also, enterprises are moving more rapidly out of the experimentation and proof-of-concept phases with big data analytics and are achieving higher levels of business value from their deployments.
Going forward, Wikibon forecasts that the overall big data analytics market will grow at an 11 percent annual growth rate by 2027, reaching reach $103 billion globally. Much of the market growth in later years will be sustained by the adoption of big data analytics in the internet of things (IoT), mobility, and other edge-computing use cases. Continue reading