Big data solution market in India to boom

by CXOtoday News Desk    Nov 09, 2012

big data indiaThe market for big data solution in India is expected to touch $153.1 million by 2014, according to IDC. In its recent study commissioned by Netapp titled “Here Comes Big Data: Perspectives from Indian Enterprises”, IDC noted that big data solutions market opportunity stood at $58.4 million in 2011, growing at a CAGR of 37.8 percent for the period 2011-2014, with IT services and software contributing the major chunk of the overall market.

Understanding the growth and adoption of big data from an enterprise perspective in India, the study revealed that with information and data management becoming the most important goal of Indian enterprises, 40 percent organizations have already used over 100 TB data at present. The key verticals in this area include BFSI, media & entertainment, telecommunications, and government.

The research found out that the information-enabled intelligent economy produces a constant stream of data with social interactions, mobile devices, facilities, equipment, R&D, simulations, and physical infrastructure and all these factors are contributing to the phenomenal growth of big data. As a result of the explosion, about a third of Indian companies are witnessing a 60 percent annual growth in data, which is a big number.

The study also revealed that even though big data solutions market in India is currently at a nascent stage, with only 5 percent of the large enterprises having embraced this technology. By 2014, IDC expects the market penetration to reach 18.4 percent of the organizations in the large enterprises as well as very large segment across different verticals.