Data became a hot topic Thursday. The IRS traced stolen tax data to Russian cyber criminals. Salesforce teamed with Google to bring more data to its analytics cloud. Google announced new privacy provisions for users to protect data. No wonder that the data market will skyrocket this year, taking along with it search-based data platforms and analytics, according to research.
New York-based 451 Research estimates the total data market is expected to nearly double in size, from $60 billion in 2014 to $115 billion in 2019. The market consists of a variety of companies in data platforms, data management, analytics, and data mining.
The 15 companies across the Search-based Data Platforms and Analytics sector generated combined revenue of $570 million in 2014. Revenue from these companies is expected to grow at a compound annual growth rate (CAGR) of 30% to reach $2.3 billion in 2019.
The Search-based Data Platforms and Analytics category includes log management technologies used to search for and extract information from logs, sensor data and other machine data.
The forecast from 451 Research is based on 451 Research’s new Total Data Market Monitor service, which presents data, generated from analysis from 202 vendors that participate across the nine Total Data segments the company tracks. 451 Research tracks 15 Search vendors, 56 Operational Database participants, 26 in the Analytic Database market, 72 within the Reporting and Analytics segment, 41 Data Management vendors, 11 Performance Management vendors, 11 Event/Stream Processing vendors, 9 Distributed Data Grid/Cache vendors, and 25 Hadoop vendors.
As for Google, the new data privacy provisioning allows users to download an app without agreeing to share multiple types of data, which can include location and contacts stored on the phone. Until now, Android users had to agree to all the permissions an app sought in order to download it. Now Google will ask the user each time they use a new feature.