Forrester: Big Data market to grow three times faster than tech overall

Forrester: Big Data market to grow three times faster than tech overall

Led by newer kinds of databases and software for distributed storage and computing, the Big Data market is set to grow at three times the rate of the entire technology market, according to a new report from Forrester Research Inc.

Forrester’s report, “Big Data Management Solutions Forecast 2016 to 2021,” which the analyst firm claims is the first of its kind, divvies up the Big Data market into six separate chunks – namely, enterprise data warehousing, NoSQL, Hadoop, big data integration, data virtualization and in-memory data fabric. Of these, it reckons that Hadoop, NoSQL and in-memory data fabric are expected to see the most significant growth in the next six years.

Hadoop and NoSQL are familiar beasts, and Forrester reckons the two segments will see growth of 32.9 percent and 25 percent per year, respectively. In-memory data fabric refers to a product offering that combines data, compute and service grids with an in-memory database. Forrester reckons the segment will grow at a rate of 29.2 percent annually over the next five years.

Forrester also takes a look at industry usage in its report. Although finance, government, professional services and telecommunications industries are the biggest users of these technologies at present, the pharmaceutical, primary production and transportation industries will see the fastest growth over the forecast period. The analyst firm said that 40 percent of the companies it polled are already implementing and expanding their Big Data technology adoption, while 30 percent plan to step up their usage within the next year.

Forrester’s take on the NoSQL segment appears to be at odds with a recent report from rival analyst firm Gartner Inc., which said in an April report on database management systems that there’s “still not much to write home about” for leading vendors such as Basho Technologies Inc., Couchbase Inc., Datastax Inc., MarkLogic Corp. and MongoDB Inc. in terms of revenue – particularly when compared with relational database vendors such as Oracle Corp.

But the NoSQL vendors themselves paint a different picture. 

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Forrester: Big Data market to grow three times faster than tech overall

Led by newer kinds of databases and software for distributed storage and computing, the Big Data market is set to grow at three times the rate of the entire technology market, according to a new report from Forrester Research Inc.

 

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Eric Axelrod

President & Chief Architect at DIGR
I have helped companies bring new data driven products to market, drive efficiency out of their supply chain, execute strategic plans, and drive top line and bottom line growth by enabling every business function with actionable analytics. I can transform a business which is lacking critical insight into an agile, strategic, data driven organization.

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