Open source boosts appeal of Big Data analytics software to SMEs

Big Data Analytics software revenues will experience strong growth, doubling its current global 2015 revenue of $36.20 billion (US Dollars) to $73.77 billion by 2021 and reaching $81 billion by 2022, a compound annual growth rate (CAGR) of 12% in the next seven years, according to Strategy Analytics IoT Strategies report "Big Data Analytics: The Internet of Things (IoT) Differentiator."

Strategy Analytics says that much of Big Data Analytics software will be open source which is less expensive than proprietary software. It will also have the ability to run on commodity hardware, which OEM vendors are betting will help broaden its appeal to small and midsize (SMBs) and midsize enterprises (SMEs).

IBM, SAS and SAP are the current and traditional market leaders but there are many powerful challengers including: Bosch, Cisco, Dell, General Electric, Intel, Microsoft, Oracle and others who are coming on strong. And there is room for many competitors in this burgeoning market.

An IDG Enterprise study conducted in 2015 indicated that 63% of small & medium businesses (SMBs) already have deployed or are planning to deploy big data projects in the next twelve months.