India’s Big Data solutions market to grow to $153.1 million by 2014

Infotech Lead India: Big Data solutions market opportunity is likely to grow to $153.1 million by 2014, representing CAGR growth of 37.8 percent during 2011-2014.

According to a study done by IDC for NetApp India, 40 percent of organizations in verticals like BFSI, Media & Entertainment, Telecommunications, and Government have more than 100 TB data currently.

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.

A third of Indian organizations are witnessing a 60 percent year-on-year growth in data.

Only 5 percent of the organizations in the large and very large segment (with more than 1000 employees) have embraced Big Data.

By 2014, IDC expects the market penetration to reach 18.4 percent of the organizations in the large and very large segment across different verticals.

Big Data solutions market opportunity stood at US$ 58.4 million in 2011, with IT Services and Software contributing the major chunk of the overall Big Data Solutions market.

There is a high prevalence of unstructured data in Indian organizations, with more than a third of Indian enterprises having mostly unstructured data. In addition, there exists a significant proportion of semi-structured data in the form of emails which is contributing to the Big Data phenomenon.

Even the companies that believe that they are effective in managing large complex data sets are facing challenges, the most prominent being delay in decision making due to the lack of a uniform view of data.

The need for better storage architecture for effective management and analysis of raw data to extract maximum value would drive the investment in storage hardware segment.

Verticals like Healthcare, Telecommunications, Process Manufacturing, and Government are beginning to witness the benefits of implementing Big Data solutions.

Verticals like BFSI, Media & Entertainment, Oil & Gas and Retail could reap immense benefits of early implementation of big data solutions, because of huge data explosion.

Public Cloud Infrastructure or Public Cloud Storage is being thought of as a potential architecture option for dealing with Big Data.

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