As we approach the final month of 2015, let’s take a look at what is in the news for big data trends.
Growth through 2019
Thor Olavsrud reports for CIO that “the market for big data technology and services will grow at a compound annual growth rate (CAGR) of 23 percent through 2019” according to IDC. IDC looks at growth in big data infrastructure, software and services and finds that software, which includes information management, discovery and analytics and app software, will grow the most, by 26% in the next five years. Also, growth in professional and support services will account for half of all big data spending through 2019.
Mr. Olavsrud’s article also takes a look at big data trends by industry. IDC found that top spenders on big data technology and services to-date are:
- Discrete manufacturing
- Process manufacturing
In the coming years IDC expects fast growth in the securities and investment, banking and media sectors. According to a Forbes article by Louis Columbus the top five industries for hiring big data professionals are (the percentage represent the number of total advertised positions in the market):
- Professional, Scientific & Technical Services – 30%
- Information Technologies – 19%
- Manufacturing – 18%
- Finance and Insurance – 10%
- Retail Trade – 8%
You can see manufacturing and finance not only emerging as large drivers of big data spending but also big data hiring.
In other industry news, big data will continue to play a role in the medical industry. Paddy Padmanabhan reports for IBM Big Data Hub current big data trends in healthcare include using analytics and data for disease detection and prevention, prevention of system fraud and abuse and improved population health management. In the news, you can also see the term precision medicine more regularly as well as new partnerships developing in the industry that incorporate big data into every day medicine and research.
Overall, big data growth is expected to be strong. Analysts believe that the market will begin to mature in the coming years but big data will continue to be a key element for company’s to remain competitive.