Big data market to be worth $46B by 2018

By 2018, the big data market is expected to be valued at $46.34 billion, growing at a compound annual growth rate of 25.5 percent over the next four years, according to a MarketsandMarkets report.

In 2013, the big data market was valued at $14.87 billion. The report suggests the big data market will experience such growth partly due to the proliferation of digital data from almost all business sectors, as well as the growing need to store, process and analyze data.

The report mentions IBM, Oracle, HP, Microsoft and EMC as dominant market players.

More articles on big data:

What even is big data? 10 definitions
Best Doctors expands big data, care management abilities with Rise Health acquisition
How social media can add value to big data

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