New IDC Big Data Technology and Services Forecast Shows Worldwide Market Expected to Reach to $23.8 Billion in 2016

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©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.

FRAMINGHAM, Mass. – In a newly released forecast, International Data Corporation (IDC) projects that the worldwide Big Data technology and services market will grow at a 31.7% compound annual growth rate (CAGR) – about seven times the rate of the overall information and communication technology (ICT) market – with revenues reaching $23.8 billion in 2016. The Big Data market is emerging at a rapid pace and incorporating technology and services from a wide range of existing and new market segments. While there are multiple scenarios that could unfold and many demand and supply variables remain in flux, IDC expects the market to exhibit strong growth over the 2012-2016 forecast period.

For the full release, click here.