Spending on Big Data topped forecasted market growth in 2013

According to Wikibon (a professional community which gives free advisory knowledge regarding technology and business topics through open source sharing), 2013 spending on Big Data (hardware, software, services etc.) reached $ 18.6 billion and resulted in a market growth of 58% over 2012. 

That topped all forecasted growth expectations of the Big Data market by approximately 3%. Listed by type, professional services had the biggest growth of 40% of the total market followed by hardware with 38% and at least software with 22%. Wikibon forecasts that the Big Data market could top $50 billion in 2017 and expects Big Data applications and cloud-based services to play an increasingly important role.

Jeff Kelly, analyst by Wikibon recognized the reason for the market growth in the improved competency of the vendors to declare their products and roadmaps as well as in the further development of the products. In addition, the progress has been made also in the field of privacy, security and governance capabilities. Moreover, enhanced backup and recovery and high-availability (e.g. Hadoop, Meanwhile) as well as partnering between the IT vendors of all types (big data and non) raise better integration of tools and technologies and lead to more adoption of big data technology. Although the smaller vendor are making advances the big data market is still determined by mega vendors (IBM,HP,SAP etc.).