A few weeks ago, I showed what happens when you look at analysts' predictions in order to assess the size of the Big Data Analytics Market.
This past week, both IDC and Gartner updated their Big Data market numbers. These new forecasts are interesting because they are somewhat in conflict with earlier estimates from similar sources and other analyst firms.
1) Gartner: "Big Data will help drive IT spending to $3.8 Trilllion in 2014"
2) IDC: Big Data Market to reach to $23.8B in 2016
Early in 2012, Wikibon predicted that Big Data would be $53B in 2016 (not $23.8B as IDC believes). And, when Gartner released their report on Big Data in November 2012, they stated that Big Data would drive $232 Billion in IT Spending through 2016 - far less than the $3.8 Trillion InfoWorld reported this past week...
The Big Data space continues to provide surprises. Take data size for example. Big Data in 2012 was about Petabytes. But, if you check out the throughout analysis my friends Shawn Rogers and John Myers of EMA produced here, you'll find it debunks some important myths, namely, the fact that Big Data’s sweet spot starts at 110GB and the discovery that the most common amount of data the average company has under management is between 10 to 30TB.
I think this goes to show that many are realizing that the Big Data Market is bigger than what most people used to think. Not because larger companies are spending more money but rather because more companies (small, medium and large) actually need Big Data technologies to help them.
If you haven't caught Brian Proffitt's great article on this subject, I highlight recommend it. It's called on "Big Data is Just for Big Companies, and other BS" and you can read it here!