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Telecom Analytics: Big numbers in big data market forecasts

Two analysis firms, MarketsandMarkets and IDC, have released their forecasts for the big data market.

According to a report from MarketsandMarkets, the big data market will be worth $46.34 billion by 2018. The global big data market is estimated to be $14.87 billion and expected to grow to $46.34 billion, which is an estimated compounded annual growth rate (CAGR) of 25.52% from 2013 to 2018. The analysis firm pointed out that the major forces driving in this market is the constant need for enterprises to upgrade their business processes, enhance performance and increase efficiency.

The continuous rise of unstructured data, and the need for advanced and predictive analytics tools also contribute to the increase in demand.

The consultant firm IDC said that globally hardware, software and service solutions focused on analyzing data will generate $11 billion in revenue in 2013. This places big data in a relevant position to the IT industry.

IDC noted that the financial and telecommunications service industries bolster the big data market, as they consume the most solutions that address the huge amount of data that needs to be analyzed.

More news from the telecom analytics market:

The telecom analytics series provides weekly insights on trends, new products and other topics that touch on the advantages and  monetization opportunities of analytics tools for telecom operators, including big databusiness intelligencecustomer experience analysis and management, business analytics and network analytics.

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Roberta Prescott
Roberta Prescott
Editor, Americasrprescott@rcrwireless.com Roberta Prescott is responsible for Latin America reporting news and analysis, interviewing key stakeholders. Roberta has worked as an IT and telecommunication journalist since March 2005, when she started as a reporter with InformationWeek Brasil magazine and its website IT Web. In July 2006, Prescott was promoted to be the editor-in-chief, and, beyond the magazine and website, was in charge for all ICT products, such as IT events and CIO awards. In mid-2010, she was promoted to the position of executive editor, with responsibility for all the editorial products and content of IT Mídia. Prescott has worked as a journalist since 1998 and has three journalism prizes. In 2009, she won, along with InformationWeek Brasil team, the press prize 11th Prêmio Imprensa Embratel. In 2008, she won the 7th Unisys Journalism Prize and in 2006 was the editor-in-chief when InformationWeek Brasil won the 20th media award Prêmio Veículos de Comunicação. She graduated in Journalism by the Pontifícia Universidade Católica de Campinas, has done specialization in journalism at the Universidad de Navarra (Spain, 2003) and Master in Journalism at IICS – Universidad de Navarra (Brazil, 2010) and MBA – Executive Education at the Getulio Vargas Foundation.