The Booming Big Data Market

Big Data has been a fast emerging trend in technology, and a new report shows that it has started to take off in the business world – and in a big way. The market for Big Data Analytics climbed to 18.6 Billion in 2013, a 58 percent increase in spending over 2012. Market forecasts show that the spending spree won’t slow down in the near future, with Big Data services projected to rake in 50 Billion USD by 2017.

But why are companies suddenly willing to invest in Big Data? As the report mentions, the rapid maturing of this new field has boosted confidence in Big Data products and services among all kinds of businesses. These products have also become increasingly more secure, and have allowed for better privacy capabilities. The widening availability and feasibility of using the Apache Hadoop framework for Big Data processing has also helped improve the popularity of Big Data services. As the Big Data market continues to mature, more businesses will utilize Big Data services as more polished applications emerge, and as security and data privacy issues are addressed.