The data platform, management and analytics market will increase its size from $60 billion in 2014 to $115 billion in 2019 in order to satisfy our hunger for ‘big data’, suggests latest report by 451 Research.
This high-growth market segment includes operational databases, analytic databases, reporting, data management and performance management tools, search-based platforms and products related to Hadoop – the latter constituting only a fraction of total revenue.
Database is king
Based on the findings of its Total Data Market Monitor service, 451 Research predicts that the size of the data management and analytics market will increase at a Compound Annual Growth Rate (CAGR) of 14 percent through to 2019 (see slide below).
“The market continues to evolve and new approaches have emerged that more efficiently store and process data, while also providing access to those that need it to analyze it and gain business insight,” said Matt Aslett, research director for 451 Research’s Data Platforms and Analytics Channel.
“Our research illustrates the dichotomy inherent in the data platform and analytics market: while it is smaller startups in emerging sectors that are growing the fastest, the incumbent providers in established markets are likely to contribute the greatest value over the next five years.”
To produce an accurate estimate, researchers analyzed the financial performance of 202 vendors across nine product verticals. They found that operational database vendors generate the bulk of total market revenue, followed by reporting and analytics products, and analytic databases. Data management market also earns more than $1 billion, with the remaining segments all below the $1 billion mark.