Global Big Data Market is expected to reach USD 123.2
billion by 2025, according to a new report by Grand View Research, Inc. The
amount of data flowing across organizations has witnessed enormous growth over
the last few years and the trend continues. Evolving consumer demands coupled
with contracting budgets are impacted by the proliferating data, which puts
considerable pressure on organizations to make the right decision in order to
seize a competitive advantage.
Big data solutions enable organizations to
effectively manage large data volumes thereby reducing cost. Additionally,
these solutions also facilitate companies to overcome frauds, streamline
critical business processes, and reduce errors. Further, the growing need to
manage and monitor the heterogeneous nature of the data generated from web
clicks to satellite data is also anticipated to significantly propel the industry
growth over the next few years.
Increased adoption of cloud computing has
generated a large amount of data on account of rapid technological advancements
and increased connectivity, owing to smartphone proliferation. Thus, the big
data industry is estimated to witness a high demand in order to keep pace with
this data explosion. However, lack of skilled manpower including data analysts
and data scientists that are required to leverage big data capabilities is
expected to hamper the demand. There exists a huge requirement for
professionals who are capable of exploiting big data analytics in order to make
valuable decisions.
Full Research Report on Global Big Data
Market Analysis: http://www.grandviewresearch.com/industry-analysis/big-data-industry
Further key findings from the report
suggest:
- The network equipment segment is expected to witness a healthy
growth at a CAGR exceeding 20% over the forecast period, owing to the
reinforcement of new network infrastructures in order to offer enhanced
security.
- The visualization segment emerged as the fastest growing
software segment over the forecast period, which is ascribed to the
elevating demand for visuals to represent the analyzed data and convey
exact interpretation to consumers.
- Media & entertainment and gaming captured a sizeable share
exceeding 5% of the overall revenue, which is attributed to the growing
number of companies seeking to escalate the value of their assets by
integrating creativity with technological breakthroughs.
- North America accounted for a sizeable revenue share exceeding
30% in 2015, which is attributed to the high penetration, primarily,
across the IT & telecommunication, BFSI, and retail sectors.
- Notable industry players, such as IBM, HP, Cloudera, and
Oracle, are gradually investing in R&D, for developing unified big
data solutions that offer increased capabilities. These players rely on
developing innovation-led solutions to increase productivity and reduce
cost in an attempt to attract new customers.
View
more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/digital-media
Grand View Research has segmented the big
data market based on hardware, software, service, end-use, and region:
Big Data Hardware Outlook (Revenue, USD
Million; 2014 - 2025)
- Storage
- Server
- Network Equipment
Big Data Software Outlook (Revenue, USD
Million; 2014 - 2025)
- Analytics
- Database
- Visualization
- Distribution Tools
- Others
Big Data Service Outlook (Revenue, USD
Million; 2014 - 2025)
- Consulting
- Deployment & Maintenance
- Training & Development
Big Data End-Use Outlook (Revenue, USD
Million; 2014 - 2025)
- BFSI
- Manufacturing
- Retail
- Media & Entertainment
- Gaming
- Healthcare
- Telecommunication
- Government
- Others
Big Data Regional Outlook (Revenue, USD
Million; 2014 - 2025)
North America
- U.S.
- Canada
Europe
- UK
- Germany
Asia Pacific
- China
- India
- Japan
Latin America
- Brazil
- Mexico
The Middle East
& Africa
View Blog On This Report by Grand View
Research:
http://www.grandviewresearch.com/blog/big-data-market-size-share-trends-forecast
http://www.grandviewresearch.com/blog/big-data-market-size-share-trends-forecast
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more
Information visit: www.grandviewresearch.com
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