The global big data market is likely to grow at a steady rate and reach nearly US$ 3.5 Bn in 2018, according to a new research report added to the vast database of Market Research Reports Search Engine (MRRSE). The report titled “Big Data Market – Global Scenario, Trends, Industry Analysis, Size, Share And Forecast 2012 – 2018” offers analysis on the key factors that are shaping global adoption of Big Data software and services around the world.
According to the report, the humongous amount of data generated by organizations around the world has necessitated the use of advanced tools. Organizations have understood the importance of identifying the importance of storing and analyzing the data generated by not only in-house, but also among the target audience as well. The pervasiveness of smartphones and rising penetration of internet connections has meant that more data is generated than ever before on a daily basis. This has further led to adoption of Big Data software and services among end-users.
The adoption of Big Data has been substantial in a range of sectors; however, the BFSI industry has been one of the early adopters of this new technology. Data generation in BFSI industry is particularly high, on account of which there has been substantial traction towards incorporating Big Data software and services. In addition to the BFSI sector, another industry that has remained at the forefront of Big Data services is healthcare. Use of digital technology in healthcare has been continuing in the last one decade or so, with electronic health records steadily becoming pervasive all around. However, the adoption towards Big Data and IoT represents the next level of transition for the healthcare industry. It is highly likely that Big Data vendors will witness a rising spate of opportunities in the healthcare industry during the forecast period.
To give readers a detailed analysis of the key factors that are shaping the growth of the market, the report offers detailed segmentation and analysis. The report has segmented the market on the basis of component into software & services, storage, and hardware. Among these, adoption of software and services is currently the highest among end-users.
Region-wise, North America remains one of the leading markets for Big Data globally. The North America Big Data market is likely to grow at a steady pace during the forecast period, owing to high focus of end-users to leverage the insights presented by data generation. Additionally, the presence of some of the leading Big Data vendors in the region is further adding to the overall receptiveness of these technologies.
The report also offers detailed insights on the competitive landscape in this emerging field. Some of the key players in the global Big Data market include
Oracle Corp., EMC, IBM, Teradata Corp., Cloudera, Calpont Corp., Mu Sigma, Splunk Inc., Opera Solutions, and Hewlett-Packard Co.
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