November 13, 2012 00:00 By The Nation 13,896 Viewed
The Big Data technology and services market in the Asia-Pacific, excluding Japan, is expected to grow from US$258.5 million in 2011 to $1.76 billion in 2016, on the back of a 46.8 per cent five-year compound annual growth rate.
The highest growth for the individual segments of the market is expected to come from storage (56.1 per cent), followed by networking (55.8 per cent) and services (48.3 per cent).
“The Big Data market in Asia-Pacific is building the momentum that will deliver a strong acceleration in 2–3 years’ time. Organisations that start the process now may find themselves with a 12-18-month competitive advantage over those who wait,” said Craig Stires, research director of Asia Pacific Big Data and Analytics at IDC.
Daniel-Zoe Jimenez, IDC program manager for Asia-Pacific Big Data and analytics, and NextGen Enterprise Applications Research, said that Big Data creates new opportunities for data analytics in finance, network analysis, human genomics, healthcare, surveillance, and many other areas. It also exacerbates some of the data-related issues of the past, including security and privacy, data quality, data integration, and storage. Chief Information Officers should design an information strategy before undertaking a Big Data project.
“Big Data requires organisations to rethink their technology architectures, processes, and skill sets in order to attain the real value of this phenomenon. Organisations that have already developed an effective business analytics program are positioned to be the first adopters of Big Data technology and approaches,” said Jimenez.
Opportunities for vendors will exist at all levels of the Big Data technology stack, including infrastructure, software, and services. The Big Data investments will be driven by business cases, which are largely defined by the applied analytics and business process integration. The pull-through opportunities for infrastructure and adjacent software will be just as significant.
Additional findings from IDC’s study show that the Asia-Pacific region has markets with unique traits, such as population mega-centres, distributed manufacturing hubs, and fluid regulations on data sharing, which are creating significant new opportunities with Big Data.
The growth in appliances, cloud, and outsourcing deals for Big Data technology will likely mean that over time end users will pay increasingly less attention to technology capabilities and will focus instead on the business value arguments. Data governance, security, and storage are some of the fundamental areas that CIOs will need to increase focus on in the context of Big Data.
Challenges introduced by Big Data are not only related to technology or processes, but also to people – in particular, the level of skills sets. Similar with the case of advanced analytics where there has traditionally been a shortage of skills, an inhibitor to growth of Big Data analytics tools could be the insufficient number of analysts with appropriate analytics skills.
In Asia-Pacific, many organisations are starting to investigate the new technologies in order to capture, manage, and analyse data that are high in volume, velocity, or variety in an affordable way. Although 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 next five years.