Is Big Data The Tail Wagging The Data Economy Dog?

You thought big data was big? Try the Data Economy on for size.

Segmenting the overall IT market horizontally typically results in five sub-markets: Semiconductors, hardware, software, telecommunications, and professional services. But an anomaly buried in the usual segmentation has existed for several decades, glossed over because it was such a slender slice of IT (e.g., the “MRM” market?!). That hidden slice has widened considerably post-2000 however, and the time has come to give those IT suppliers, for want of a better term we will call them “data providers,” their fair due—recognition of their own market space which I refer to as the “Data Economy.”

Even though many data providers are not-for-profit, if one aggregates the revenues of all the data providers the “Data Economy” market now runs in excess of $100 billion in annual revenues. By comparison, ESG estimates the software and core services revenues associated with the BI/analytics platform market at around $20 billion. Even if you add all the adjunct products and services required for big data, such as servers, storage, networking, point software solutions, and professional services, it probably still slightly trails the Data Economy in terms of market size. And ESG believes the Data Economy is growing even faster than big data. Who are these data providers? Let’s barely scratch the surface of some of the Data Economy players.

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