The 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.
Browse full research report on Big Data Market: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.
Browse more reports of this category by Grand View
Research: 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
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-big-data-market
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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