Has The Big Data Industry Reached Its Peak?

Every industry enjoys a period of unquestionable prosperity. It is a time when the market is most responsive and the workforce is most stable and well trained and the profits soar higher than any other form of commerce. With the big data analytics industry things have worked out on a strangely different level. Big data as a matter of fact did not unfold itself as a potential industry. It was a general name given to the effort to store and process the increasing amount of digital information around various markets and to the tools used for this purpose. Now it is as big as $35 billion and you cannot really say that it yet has a stable workforce.

It was a buzz, a loud one that did not go unnoticed and then it changed things forever. Now, big data analytics has become the finest weapon to penetrate the market with and to grab your share of fortune. An idea that became so big that it is hard to contain it anymore and it starts controlling the worldwide market. India, as one of the largest open markets in the world has reciprocated brilliantly to the trend. One cannot claim that all Indian companies have gone gaga over big data tools and are all making a fortune out of analytics. But India does have an industry in building around big data analytics training in Bangalore.

Has The Big Data Industry Reached Its Peak?

This is creating the most important thing for a profusely populated nation – jobs. The number of big data jobs created around India in every year is nearly 10,000. This number will grow and we have predictions that there will be a shortage of 140,000 able analysts in India by the end of 2020. Well, in a dynamic market like that of analytics, you cannot really rely completely on predictions but the past shows that the Indian domestic analytics industry has been growing at a Compound Growth Rate of 28%. Another fascinating fact regarding the industry under concern is that big data experts are offered, on an average, 30% more salary than IT professionals.

These details have undoubtedly undergone a bit of generalization but what they tell us quite loudly that it is the peak of an industry that we are looking at. But that does not seem to be true when you look at it from another perspective – most large Indian companies have yet not invested whole heartedly in big data though it seems that they would in any time soon. The workforce is still in the making and the jobs are gotten after quite a hustle because of the demands of an analytics job. More than 50,000 Indians are currently working in the domestic analytics industry – and the industry comprises mostly of analytics service providers. We can hardly assume the shape of big data analytics in Bangalore as well as in the whole country as more and more enterprises become data centric. Indian analytics industry still has a long way to go.