Big Data Solutions market set to grow to $153.1 mn by 2014

Big Data solutions market in India is set to grow to $153.1 million by 2014. This represents a compounded annual growth rate (CAGR) of 37.8% for the period 2011-2014.

According to a study commissioned by NetApp India, information deluge has become the order of the day among Indian enterprises, with 40% of organisations in verticals like BFSI, Media & Entertainment, Telecommunications, and Government having more than 100 TB data currently.

The study titled “Here comes Big Data: Perspectives from Indian Enterprises” was conducted by IDC.

The study said 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 organisations are witnessing a 60% year-on-year growth in data. Such acceleration was unheard of in the last 5-6 years.

NetApp is engaged in creating innovative storage and data management solutions that deliver outstanding cost efficiency and accelerate business breakthroughs.

Seeking insights from the end user organizations in India at the given scale for the first time, the study was conducted to understand the challenges of data management today and the need for big data related intelligence and analysis in the fast moving Indian economy.
 
The study reveals that the Big Data Solutions market in India is currently at a nascent stage, with only 5% of the organisations in the large and very large segment (with more than 1,000 employees) having embraced this technology. By 2014, IDC expects the market penetration to reach 18.4% of the organisations in the large and very large segment across different verticals.