Market research company IDC predicts that the western Eurpean big data market will grow between now and 2018 at a compound annual growth rate of 24.6 percent.
IDC said that western European organisations are catching up with the USA rapidly because of a combination of smaller datasets, challenging economies and privacy concerns.
The market sector is segmented into infrastructure, such as servers, storage and networking; software; and services. Storage was worth $536 million in 2013, while the server market is worth $314 million. But the largest segment is software, worth an estimated $698 million last year, followed by services which was worth $593 million.
IDC said the UK, Benelux and the Nordic countries are showing higher initial adoption, but Germany and France are fast catching up.
But Alys Woodward, research director at IDC, warned that getting value from investments in big data is far from guaranteed. Vendors need to clearly demonstrate to their customers how their organisations can benefit from adoption.