Wikibon’s Jeff Kelly bravely put a stake in the ground recently, first among IT market observers, by estimating the big data market at $5 billion, growing to $50 billion in five years. Kelly’s 5/50/5 plan is a great guide to the initial jostling for market position in this very promising and very emerging market. it shows that most–if not all–of the innovation in big data came from startups, and some have already been acquired by established IT firms.
The big data market, as defined by Wikibon, includes the hardware, software, and services designed to address the shortcomings of traditional data base technologies in handling large data sets. This means that the $5 billion estimate is a conservative one as it represents a narrow market, the market comprised of what we could call the hardware, software, and services platforms for big data. Continue reading