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Report: Global big data market to exceed $48 billion in 2018

Paul Newman Archive

Companies today have access to a wide range of innovative resources that give executives the ability to gather and analyze consumer information. This big data phenomenon is poised to experience significant growth in the coming years.

A report by Transparency Market Research forecast the global big data market to expand at a compound annual growth rate of more than 40 percent between 2012 and 2018, up from $6.3 billion and growing to approximately $48.3 billion. North America is expected to maintain its top position in the market through 2018, accounting for more than 54 percent of all revenue.

These mountains of information mean traditional maintenance solutions are no longer applicable and monitoring data quality is more difficult, Transparency Market Research reported. This was also highlighted in a study by TechNavio, which found the global database management market is estimated to expand at a compound annual growth rate of 13.5 percent through 2015.

As businesses expand, gather and analyze more resources than ever before, decision-makers must ensure their organizations have the right management tools to reduce the risk of exposing confidential assets.