The explosion of companies jumping on the big data bandwagon will see the technology's growth outpace that of the wider IT market by six times, according to new IDC projections.
The analyst predicts that in just three years' time in 2017, the big data technology and services market is set to be worth $32.4bn (£19.78bn) annually after having grown six times faster than the overall ICT market.
A range of factors - including varying supply and demand rates - could impact the growth, the analyst conceded, but it added that the market's expansion will still be strong over the next five years regardless of such factors.
The strong growth is being driven by both IT giants and new start-ups entering the big data market, according to IDC's vice president for business analytics and big data Dan Vesset.
"The big data technology and services market represents a fast-growing multibillion-dollar worldwide opportunity," he said. "It is expanding rapidly as large IT companies and start-ups vie for customers and market share."
Elsewhere in its Worldwide Big Data Technology and Services 2013-2017 Forecast, the analyst said that data hosted in the cloud will be on the up, possibly leaving firms operating traditional datacentres in trouble.
Of the individual segments contributing to big data tech and services, cloud infrastructure will have the highest growth rate - 49 per cent by 2017.
"A significant amount of data that can be described as big data in the datacentres will either get disposed of or archived to the cloud, which will result in lower revenue for traditional storage in the datacentres," said IDC.
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