Big data has matured and moved beyond its initial hype with many enterprises considering it as a strategic business advantage. To know where India stands in the big data league and how it is geared to cash in on the big data opportunity, let’s consider these 10 statistics and research findings:
1. By 2020, India will see a 25-fold growth in useful information that will make the adoption of big data technologies and practices a significant opportunity for enterprises.
Source: Big Data, Bigger Digital Shadows, and Biggest Growth in the Far East – India, IDC study sponsored by EMC
2. Big Data technology and services market in India will witness a phenomenal compounded annual growth rate (CAGR) of 36.3% for the period of 2012–2017 to reach $191 mn from $40.7 mn in CY12. The huge growth potential is attributed to the inclination of the business functions to get meaningful insight out of the humongous data growth in their organizations.
Source: IDC India Big Data Spend & Adoption 2014-2017 Forecast and Analysis