1.Big Data and Analytics both will have a buoyant run starting 2015 and will be a big boost for the KPO businesses in India: a recent by NASSCOM and CRISIL Global Research and Analytics predicts that the global Big Data market will reach $25 billion by 2015, up from $5.3 billion in 2011; the Indian industry in Big Data will reach $1 billion by 2015.
According to research by Avendus Capital, the data analytics market in India is expected to reach $1.15 billion by 2015, and will account for a fifth of India’s knowledge process outsourcing (KPO) market of $5.6 billion.
2.Big Data & Analytics To Trigger Jobs Growth for India: Big data demand will reach 4.4 million jobs globally, but only one-third of those jobs will be filled. Gartner says the demand for Big Data is growing, and enterprises will need to reassess their competencies and skills to respond to this opportunity. Jobs that are filled will result in real financial and competitive benefits for organisations. US is expected to have a shortage of 140,000 – 190,000 analytics professionals by 2018, which opens up a huge opportunity for product and service companies in India.
3.Digital India Powered By The Big Data From Smart Cities: The Indian government’s $17 billion ambitious ‘Digital India’ program has the potential to be a game changer for the country. Coupled with the committed investments in Smart City Projects by Indian government where it plans to develop 100 smart cities and has allocated INR 7060 crores (USD 1B) which is just the seed money and not forgetting CISCO’s commitment of USD1.7B in smart city technologies in India. The key trigger for smart cities is the Big Data that can be leveraged to optimize resources and make operations of a city more efficient.
Not just India but governments across APAC & Middle East including Japan, Qatar, India, China, Sri Lanka and South Korea, are embarking on smart city initiatives to manage energy and resource consumption and prepare for further growth. These initiatives across the region will drive significant momentum in the development of intelligent social infrastructure solutions that combine advanced analytics, the Internet of Things and machine-to-machine interaction.
4. The mobile Explosion And Big Data Analytics: With wearable health technology merging in mobile telephony and the fact that India is slated to touch 170m-200m mark in smart phone adoption by 2015, mobile will be the trigger for big data will start to play a huge role in both health technologies and advertising. That’s because mobile generates almost 10X more data than PCs. By processing billions of transactions every single day, mobile marketing companies like InMobi refine targeting capabilities and enable real-time decisions based on geo, user context and much more. In a survey conducted by a global outsourcing giant, more than 80% of the respondents in Indian urban areas expressed the desire to buy wearable tech, particularly in health and wellness.
These are just 4 ways in which Big Data is attracting a lot of attention and investment in India and is also poised to act as a major catalyst in overall growth of the country’s economy. Do share your thoughts and ways in which Big Data will impact India or other countries in Asia.