On the 2nd of July 2014, the European Commission published a communication entitled “Towards a thriving data-driven economy”. This communication outlines that the Big Data Market, which is expected to grow worldwide to USD 16.9 billion in 2015 at an annual rate of 40%, is a great opportunity to create new jobs and growth. However, it also points out that Europe has been slow in embracing this revolution, compared to other competitors like the USA. The communication addresses this challenge by sketching the features of the European data-driven economy of the future and setting out some operational conclusions to support and speed up the transition towards it.
"New developments such as the cloud, the Internet of Things and big data can thrive in Europe and that citizens, innovative web entrepreneurs and other businesses can take full advantage of their potential."
Jean-Claude Juncker, President of the European Commission