Global Big Data Market: Snapshot
The global market for big data is estimated to grow rapidly in the next few years. The rise in the rate of adoption and the increasing consumer awareness are predicted to accelerate the market growth in the next few years. As per the market intelligence report that has been recently published by Transparency Market Research, the global big data market is expected to reach a value of US$3.5 bn by the end of 2018. The market is likely to register an exponential 40.50% CAGR between 2012 and 2018.
High Consumers Awareness to Encourage Global Big Data Market
A tremendous rise in the quantity of data and the preferential shift from analogue to the digital technology are the major factors that are estimated to encourage the growth of global big data market in the near future. In addition to this, the rise in the number of mobile applications and devices is predicted to accelerate market growth in the near future. On the flip side, the lack of awareness among consumers related to the advantages of using big data solutions and the strict rules and regulations are estimated to curb the growth of the global big data market in the near future, Nonetheless, the rising number of organizations adopting the big data is expected to offer growth opportunities for the market players across the globe.
The global big data market has been classified on the basis of application into retail, healthcare, manufacturing, government, financial services, telecommunications, media and entertainment, and others. The financial services segment is projected to hold a massive share of the global big data market in the coming years. The growing need to manage the continuously rising sensitive financial data is estimated to support the growth of the overall market in the next few years.
North America to Lead Global Big Data Market in Near Future
From a geographical viewpoint, North America is expected to lead the global big data market, holding a large share of the overall market in the next few years. The rise in the internet penetration and the presence of several players are considered as the major factors that are projected to accelerate market growth in the near future. In addition to this, the rising trend of digitalization in several end use industries and the growing use of smartphones are further predicted to propel big data market in the next few years. Furthermore, Asia Pacific is estimated to observe a promising growth, thanks to the rising contribution from India, China, and Japan. The rising adoption of big data by several organizations is anticipated to drive the big data market across Asia Pacific in the near future.
The global market for big data is likely to grow at a rapid rate in the next few years. At present, the market is fragmented in nature and is likely to witness a substantial rise in the level of competition in the coming few years. The development of new and advanced tools and technologies and the increasing focus on innovations are likely to encourage the growth of the growth of the global big data market in the near future. Some of the key players operating in the big data market across the globe are Mu Sigma, Calpont Corp., IBM, EMC, Hewlett-Packard Co., Splunk Inc., Opera Solutions, Teradata Corp., Oracle Corp., and Cloudera.
The global big data market has evolved over the years with efficient technologies that offer accurate insights imperative to innovation to its users. The advantages offered by big data such as valuable inferences of the changing market dynamics have been its unique selling point over the past few years. Deployment of big data is expected to help companies formulate better business strategies and aid their decision-making processes. Over the years, big data has proved to be a pivotal means to achieving product innovation and improving after-sales services.
The research report on the global big data market by Transparency Market Research offers a thorough outlook of the drivers and restraints influencing the trajectory of the overall market. The segments of the global market have been studied using a SWOT analysis whereas the competitive landscape has been studied through a Porter’s five forces analysis. The research report puts forth a fair assessment of the future of the global bid data market along with its impact on the overall economy.
Big Data Market: Trends and Opportunities
The mammoth amounts of data being used and generated across all industrial verticals is, undeniably, the key growth driver for the global big data market. The billions of smartphones and other devices are responsible for the gargantuan data being stored in form of texts, numbers, images, videos, graphs, audios, and other forms of multi-media formats. Analysts predict that as the sales of such devices remain the rise, the amount of data will also continue to reach newer heights. End users are using efficient big data technologies such as Hadoop and SQL to organize this information and give it a logical meaning to understand businesses, markets, consumer sentiments, and the global economics in the larger scheme of things.
Several companies across the globe are employing big data technologies to gain a competitive advantage over others in the long run. For instance, a meaningful analysis of the healthcare industry can be ascertained by these analytics to understand where a specific country is headed. From tracking diseases to prevent epidemics to bringing down healthcare costs, deployment of big data in the healthcare sector can deliver unmatched results. Thus, the emergence of better technologies in this market is anticipated to bring in an improved efficiency and cost advantages to the users.
Big Data Market: Region-wise Outlook
Geographically, the global big data market has been segmented into Asia Pacific, Europe, North America, and the Rest of the World. Research indicated that the big data market held a dominant share in North America, accounting for nearly 54.5% of the overall market in 2012. The growing number of Internet users in North America and the unstoppable Internet penetration has been driving the big data market across the region. Several end users such as financial institutions, the retail market, healthcare sector, the media industry, and the governments are turning their attention towards big data to understand the vast amount of data generated by Internet users in a meaningful manner. Analytics services is a key area of big data market where vendors have mushroomed.
Developing countries of Asia Pacific such as Japan, China, and India are projected to offer remarkable opportunities in the market. The thriving businesses in these countries will encourage the constructive usage of big data in the coming years. End users are expected to opt for big data services and software both to develop better products and services by understanding consumer behaviors along with their spending patterns.
Key Players Mentioned in the Report are:
Some of the key players operating in the global big data market are Teradata Corporation, Opera Solutions, Mu Sigma, IBM, Cloudera, Oracle Corporation, Splunk Inc., Hewlett-Packard Co. (HP), and Calpont Corporation.
Market Segmentation of the Global Big Data Market is as follows:
Big Data Market By Product Requirements
- Existing DBMS Market
- Hadoop – Full Fledged Market
- Relational Database Management System (RDBMS)
- Comparison of SQL Databases and Hadoop
- Limitations of Big Data
Big Data Market by Components
- Software and Services Market
- Hardware Market
- Storage Market
Big Data Market By Application
- Financial Services Market
- Manufacturing Market
- Healthcare Market
- Telecommunication Market
- Government Market
- Retail Market
- Media and Entertainment Market
- Others Market
The regional analysis covers:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments