According to ABI Research, enterprises are projected to spend over $31 billion on big data in 2013. This amount is expected to grow at a CAGR of 29.6 per cent over the next five years, to reach $114 billion in 2018.
This forecast includes spending on internal salaries, professional services, technology services, internal hardware, and internal software.
The research firm adds that salaries pertaining to big data initiatives account for close to half of the current spending, with the other half allocated to vendors? products and services.
Meanwhile, ABI Research also expects significant innovation in the field of analytics.
