Big Data Market to Grow to 10 Billion Yuan in Next 3 Years

BY  | FROM CSFJN | 2013-06-13 09:11

As an important outreach of cloud computing, big data is arousing a frenzy. According to authoritative forecast, the big data market in China will exceed 10 billion yuan in the next 3 years. The potential is huge, since its value was less than 500 million yuan in 2012.
In the 5th China Cloud Computing Conference, Chairman of China Cloud Computing Technology and Industry Alliance Wu Jichuan pointed that big data is the foundation for cloud computing and the essential element for cloud platform. Without analysis of massive data, there exist no possibility of providing valuable information for consumers. According to analysts, equipment producers and data analyzing companies may be the first to be benefited.
Big data referes to the collection of data that cannot be grasped, managed or processed by ordinary softwares in acceptable length of time. The market involves technologies related to the storage, process, and application of massive data.
The concept of big data was not widely acknowledged until last year, though cloud computing was introduced as early as in 2008. The value of big data market in China was 450 million yuan in 2012, up 40.6 percent year on year. It is expected to reach 800 million yuan to 10.1 billion yuan during 2013 and 2016. Due to its short history, the application of big data has been proved. According to the CEOof Teradata (Greater China), the big data has already been put into use in social management, production, and services.


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