Big Data spending in the APEJ region is predicted to reach US$1.02 billion in 2014, according to a newly released report by IDC.
This growth was at 36.3% for this year and will hold strong at these levels over the next 4-5 years. Big Data spending in the APEJ region will grow at compound growth rate of 34.1% through 2017 leading to a rapid growth of infrastructure to store and analyse that data.
The share of the data will grow from 36% in 2012 to 62% in 2020 and this growth will especially be noticed in emerging markets.
Companies in the APEJ region will invest in Big Data solutions, and will especially search ways to leverage cloud-based services.
"In the coming year, expect to see strong interest in the insights encoded in geolocation information, when tied to personal behavior," said Craig Stires, research director for Big Data, Analytics and Security Software, IDC Asia/Pacific. "More mature markets, like Australia and Singapore will be most prominent in leveraging Big Data and analytics for heightened customer engagement."
Emerging trends in Big Data
"IDC Asia/Pacific (excluding Japan) Big Data 2014 Top 10 Predictions" report notes that the majority of people have no idea how their data is being collected and shared.
In the coming years people will be more aware of how their privacy is overrun via geolocation information driving Telcos and Retailers to personalize services.
"People don't want to feel marketed to, we want better levels of service. Organizations that are stuck in the old mentality of only maximizing wallet share will risk brand reputation and losing out to those organizations that personalize services based on what they know about that person," said Stires.
Many high profile data breaches will expose the information that has been captured by some organizations raising awareness about privacy protection of citizens. IDC expects this will encourage governments in Asia to design policies that provide better privacy protection to citizens.
IDC also predicts storage to be one of the fastest growing Big Data and analytics investments in the coming year and beyond, with at least a 45% growth from 2013.
Sign up for CIO Asia eNewsletters.