The latest buzzword in technology seems to be “data” and with good reason. Everywhere you turn savvy firms are taking the data they have and spinning it in all different ways to get the most ROI out of it.
That message was driven home recently by new findings from 451 Research (News - Alert), which just issued a report on the future of data platforms and analytics. The leading research firm sees the total data market doubling in size, from a $60 billion valuation last year to $115 billion by 2019.
According to MediaPost, which released some of the findings, “The 15 companies across the Search-based Data Platforms and Analytics sector generated combined revenue of $570 million in 2014. Revenue from these companies is expected to grow at a compound annual growth rate (CAGR) of 30 percent to reach $2.3 billion in 2019,” the online news outlet said.
The upbeat forecast from 451 Research is based on the company’s new Total Data Market Monitor service, which presents data, generated from analysis of more than 200 vendors that participate across the nine Total Data segments the company tracks.
“451 Research tracks 15 search vendors, 56 operational database participants, 26 in the analytic database market, 72 within the reporting and analytics segment, 41 data management vendors, 11 performance management vendors, 11 event/stream processing vendors, nine distributed data grid/cache vendors, and 25 Hadoop vendors,” MediaPost said. As such, the numbers have been sliced and diced to give a very accurate picture of where the market is headed.
The findings come on the heels of news that Salesforce has just teamed up with Google (News - Alert) to bring more data to its analytics cloud, and that Google has announced new privacy provisions for users to protect data.
Obviously, it’s a good time to be in the ‘data business.’ For those that aren’t, it might be time to make a move.
Edited by Maurice Nagle