IDC: Asia prepping for big data acceleration
Over the next two to three years, vendors will jockey for position and try to define the big data landscape. At the end, the big data market in the Asia-Pacific region will begin to accelerate.
Craig Stires, research director for IDC Asia/Pacific's Business Analytics Solutions, said, "This will drive the market to demand narrower spectrums of solutions within big data, with proven business potential. The opportunities for competitive advantage and transformative change to businesses will provide an increasingly lucrative market for big data solution providers." He puts the big data technology and services market in that region on a 46.8 percent compound annual growth rate through 2016.
As of 2011, the market was at $258.5 million and is projected to grow to $1.76 billion in 2016. Most of this growth (56.1 percent) will come from storage. Networking will account for 55.8 percent and services for 48.3 percent. Stires said we will begin to see business use cases with measurable results that include real-time crime prevention in financial services, and peer influencer mapping for churn prevention in telecommunications.
Daniel-Zoe Jimenez, program manager of Asia/Pacific Big Data and Analytics, and NextGen Enterprise Applications Research, at IDC, said big data creates new opportunities for data analytics in finance, network analysis, human genomics, healthcare, surveillance, and many other areas. He added that it also exacerbates some of the data-related issues of the past, including security and privacy, data quality, data integration and storage.
"CIOs should design an information strategy before undertaking a big data project," he said. "Big data requires organizations to rethink their technology architectures, processes, and skill sets in order to attain the real value of this phenomenon. Organizations that have already developed an effective business analytics program are positioned to be the first adopters of big data technology and approaches."
The report said that the Asia/Pacific markets have population mega centers, distributed manufacturing hubs, and fluid regulations on data sharing, which are creating significant new opportunities with big data. As it is elsewhere, an inhibitor of growth for big data analytics tools could be the insufficient number of analysts with appropriate analytics skills.
- see IDC's report