The big data market in India, which presents a huge market opportunity for the IT services and analytics firms, will grow to $1 billion in 2015.
The global 'Big Data' market opportunity is estimated to grow at 45 per cent annually to reach $25 billion by 2015, from the current size of about $8 billion, according to a report launched by IT industry body Nasscom and Crisil today.
It added that the Indian Big Data industry is expected to grow from $200 million in 2012 to $1 billion in 2015, at a CAGR of over 83 per cent.
Big Data refers to datasets whose size is beyond the ability of typical database software to capture, store, manage and analyse. Currently, it can range from a few dozen terabytes to multiple petabytes, according to a recent report by McKinsey and Co.
Industry experts believe analytics is receiving a major boost as there is an exponential growth in big data.
"While growth in the last two years saw some moderation owing to the global recession, the potential of the industry is unquestionable with opportunities in both mature and emerging services and verticals," the report said.
Big Data will help the BPO industry move forward as it will help in "evidence-based" decision-making for clients, which in turn has a high impact on business operations, Nasscom said.
Indian BPO industry continues to maintain over 37 per cent of total global sourcing BPO revenues.
It added that the Big Data ecosystem will continue to evolve over 2012-2013 through sustained investments to strengthen existing technologies and building strong talent pool.
Besides, Nasscom also unveiled its Top 15 BPO exporters in India for the year 2011-12. Genpact, which topped the list, was followed by Tata Consultancy Services BPO, Aegis, Wipro BPO and Firstsource Solutions.
Aditya Birla Minacs Worldwide, WNS Global Services, Infosys BPO and Serco Global Services also ranked in the top 10.
The list did not include companies whose corporate headquarters are located outside India, but have significant India-based delivery capabilities, and have not shared their India-based revenue figures.
These companies include names like Convergys, IBM Daksh and Sutherland Global Services.