South Korea's market for so-called big data expanded sharply in 2015 from the previous year thanks to increased investment and a greater awareness of the novel area, officials said Thursday.

The local big-data market reached 262.3 billion won last year, up 30 percent from 201.3 billion won a year earlier, according to the Ministry of Science, ICT, and Future Planning.

Big data refers to the process of using large amounts of information, which could not be utilized in the past due to size, for business purposes. It allows firms to analyze consumer patterns and market trends, among others.

The ministry said the government's investment in big data-related industries came to 69.8 billion won in 2015, up 42.4 percent from a year earlier. Private investment in the sector also advanced 26.4 percent to 192.5 billion won on-year, it added.

Of South Korean companies with more than 100 employees, 4.3 percent utilized big data in 2015, up from the 3.9 percent posted a year earlier, it said.

The ministry added it will ramp up efforts to foster the segment as a new growth engine for the country. (Yonhap)