Market Opportunities | Big Data
“Big data” is more than just a buzzword. It is very probably the most important concept in the digital world today. According to Frost & Sullivan, the big data concept overarches all other relevant software megatrends including mobile and cloud computing, the Internet of Things (IoT), enterprise resource planning (ERP), customer relation management (CRM), smart grids, and networks. Moreover, according to the German IT industry association BITKOM, big data has the potential to cause significant changes in numerous economic sectors in the years ahead. Big data technology use may have its origins in North America, but Europe – and Germany in particular – is quickly catching up.
Although the German big data market still appears to be at an early stage, the Experton Group expects the German big data market to grow from EUR 1.4 billion in 2015 to almost EUR 3.8 billion in 2020. Correspondingly, annual growth rates during this period are predicted at 23 percent on average. At present, big data technology in Germany is largely driven by the internet, e-commerce, and advertising sectors. However, thanks to its competitiveness and export orientation, the German economy is expected to quickly adapt to the needs for optimized production, logistics, and sales process to become an international “big data champion,” according to BITKOM. Accordingly, the most important investment opportunity areas for suppliers are hardware and infrastructure, bandwidth and related acceleration services, and, more particularly, database and analytics technologies.
The development of the German big data market in million Euros | © BITKOM/The Experton Group 2015 + GTAI
