Leading Analyst Research Firm Study Projects Indian Big Data Solutions Market at US $153.1 million by 2014
BANGALORE, November 8, 2012 – NetApp India today released results of a NetApp commissioned IDC study “Here Comes Big Data: Perspectives from Indian Enterprises” that estimates Big Data solutions market opportunity to grow to $153.1 million by 2014. This represents a compounded annual growth rate (CAGR) of 37.8% for the period 2011-2014.
Seeking insights from the end user organizations in India at the given scale for the first time, the study was conducted to understand the challenges of data management today and the need for big data related intelligence and analysis in the fast moving Indian economy.
According to the study, information deluge has become the order of the day among Indian enterprises, with 40% of organizations in verticals like BFSI, Media & Entertainment, Telecommunications, and Government having more than 100 TB data currently. The information-enabled intelligent economy produces a constant stream of data with social interactions, mobile devices, facilities, equipment, R&D, simulations, and physical infrastructure contributing to the Big Data explosion. As a result, about a third of Indian organizations are witnessing a 60% year-on-year growth in data. Such acceleration was unheard of in the last 5-6 years.
The study reveals that the Big Data Solutions market in India is currently at a nascent stage, with only 5% of the organizations in the large and very large segment (with more than 1000 employees) having embraced this technology. By 2014, IDC expects the market penetration to reach 18.4% of the organizations in the large and very large segment across different verticals.
- Big Data solutions market opportunity stood at US$ 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.
- Big Data solutions market to grow to $153.1 million in 2014
- 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 that would command a stronger growth (CAGR of 67.1%) as compared to other segments for the period 2011-2014.
- Advanced analytics that includes predictive modelling would gain prominence along with real-time intelligence.
- 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.
- Vendor Brand and Technology Leadership are the major criteria for the selection of a Big Data Solutions provider.
For more details on the study please click here:
Commenting on the study Anil Valluri, President, NetApp India Marketing & Services Pvt Ltd, said, “Data by itself has no value unless it is translated into insight that can help drive business results. Verticals like retail, telecom, and manufacturing can immensely benefit from Big data solutions that dramatically help organizations get control of data and reduce time-to-insight.
“At NetApp, we focus on enabling our customers to not only gain insight from data, but more importantly turn that insight into action.. Our solution sets for managing data at scale are built on E-Series and Data ONTAP platforms, and they efficiently process, analyze, manage, and access data at scale to meet customers’ analytics, bandwidth, and content needs. NetApp can help customers gain control of data, address business challenges, and turn data-driven insight into actions, real quick”, he further added.
NetApp creates innovative storage and data management solutions that deliver outstanding cost efficiency and accelerate business breakthroughs. Our commitment to living our core values and consistently being recognized as a great place to work around the world are fundamental to our long-term growth and success, as well as the success of our pathway partners and customers. Discover our passion for helping companies around the world go further, faster at www.netapp.com/in
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. IDC helps IT professionals, business executives, and the investment community makes fact-based decisions on technology purchases and business strategy. More than 1000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. For more than 48 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and Events Company.