Big data is a field that offers ways to analyze and systematically extract information from sources. It also helps users to deal with data sets that are too complex or large to be dealt with via traditional data-processing application software. Market Research Future (MRFR) has published a research report about the global big data market that weighs increase for this market at 13.35% CAGR during the forecast period between 2018 and 2023. By value, the market has been figured to be worth the $ 81,500 Mn by the end of the forecast period.
The exceptional market driving factor for the global big data market is its growing use in the various enterprise application. Other factors enabling the market growth include technological advancement and investment by enterprises in the technology to streamline their operations. Big data analytics enables the development of data-driven applications that are meant to improve business agility.
Cisco Systems Inc., IBM Corporation, Microsoft Corporation, Dell Technologies, Amazon Web Services, Oracle Corporation, Cloudera Inc., Hitachi Ltd., Teradata Corporation, SAP SE, Accenture PLC, Tableau Software, Fair Isaac Corporation, Hewlett Packard Enterprise Company, Splunk Inc.
The Big Data Market growth is expected to remain influenced by micro and macroeconomic factors, government support and industry development. Investing in R&D pipeline will benefit players in the long run. Innovation and awareness about technological developments will be crucial for maintaining a competitive edge.
The report covers the development strategies adopted by the companies between 2015 to 2018.
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Latest Industry News
· Google is planning to acquire big-data company Looker for USD 2.6 bn. 6 JUNE 2019
· United Nations Children's Fund (UNICEF) is using Big Data for its School Mapping Project. 4 JUNE 2019
Global Big Data Market: Segmental Analysis
MRFR’s report includes segments the big data market by component, technology, organization, deployment, and end user.
· By component, the market has been segmented into hardware, software and service. The hardware segment is further sub-segment into storages, server and network equipment. The software segment is sub-segment into Hadoop distribution products and tools, data discovery and visualization, analytics and data management. The service segment is sub-segmented into Data as a Service, Deployment and Integration Service, Hadoop as a Service, Consulting Services and Analytics as a Service. The service segment accounts for a significant market. In 2017, the segment stood at market valuation of over USD 15,300 million and is expected to register a CAGR of 15.1% during the review period.
· By technology, the market has been segmented into machines learning & data mining, stream processing, NoSQL, predictive analytics, Hadoop, natural language processing and MPAD. In 2017, the machine learning & data mining segment represented 20.9% share of the market in terms of value. The segment is expected to grow at a CAGR of 12.0% from 2018 to 2023. The Hadoop segment hold the second position and was valued at USD 6,741.8 million in 2017.
· By organization size, the market has been segmented into large enterprise and SMEs. The SME’s segment accounts for a noteworthy market share and set to grow at a CAGR of 14.1% during the forecast period. However, the large enterprise segment is expected to exhibit a the highest CAGR during the review.
· By deployment, the market has been segmented into on-cloud and on-premise. In 2017, the on-cloud segment accounted for a market share of 61.3% in terms of value. This segment is expected to register the highest CAGR during the assessment period. Deployment of on-cloud segment is widespread due to its cost benefits and functional efficiency.
· By end-user, the market has been segmented into manufacturing, telecommunications, healthcare, retail, IT, BFSI, energy & utilities, government, transportation and others. The IT segment currently accounts for the largest market share and is likely to retain its dominant position over the next several years. The telecommunications segment currently holds the second position and is expected to post a CAGR of 14.5% during the forecast period. Whereas, the retail segment is expected to witness the fastest CAGR during the assessment period.
Global Big Data Market: Regional Outlook
The global big data market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.. Currently, North America leads the global big data market and is likely to maintain its position throughout the assessment period. During the forecast period, the market is North America is expected to register a CAGR of 12.4%. The strong position of region can be attributed to factors such as the fast adoption of advanced information technologies and focus towards big data application in countries such as the U.S. and Canada. Moreover, presence of leading market players such as oracle corporation, IBM corporation, Microsoft corporation, Amazon among others support the market growth in the region.
TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Dynamics$
4.2.1 Increasing Variety And Volume Of Business Data Generated From Various Sources
4.2.2 Rising Need For Business Data To Improve Efficiency
4.3.1 Growing Security Concerns
4.4.1 Demand For A Common Unified Platform For Information Storage
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