Big Data solutions market which was at US$ 58.4 million in 2011 is likely to reach $153.1 million by 2014 and it is expected to grow at a compounded annual growth rate (CAGR) of 37.8% for the period 2011-2014, said a study by NetApp in association with a market research firm, International Data Corporation (IDC).
According to the study, information deluge has become the order of the day among Indian enterprises, with 40% of organizations in verticals like BFSI, Media & Entertainment, Telecommunications, and Government having more than 100 TB data currently. The information-enabled intelligent economy produces a constant stream of data with social interactions, mobile devices, facilities, equipment, R&D, simulations, and physical infrastructure contributing to the Big Data explosion. As a result, about a third of Indian organizations are witnessing a 60% year-on-year growth in data. Such acceleration was unheard of in the last 5-6 years.
The study reveals that the Big Data solutions market in India is currently at a nascent stage, with only 5% of the organizations in the large and very large segment (with more than 1000 employees) having embraced this technology. By 2014, IDC expects the market penetration to reach 18.4% of the organizations in the large and very large segment across different verticals.
Ths study reported that there is a lack of a uniform view of data, though a few companies are managing large complex data sets, resulting in delay in decision making. The need for better storage architecture for effective management and analysis of raw data to extract maximum value would drive the investment in storage hardware segment that would command a stronger growth (CAGR of 67.1%) as compared to other segments for the period 2011-2014.
"Advanced analytics that includes predictive modelling would gain prominence along with real-time intelligence. Public Cloud Infrastructure or Public Cloud Storage is being thought of as a potential architecture option for dealing with Big Data," added the report.