Albany, NewYork (PRWEB) June 11, 2014
Big Data originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data to solve complex problems.
Amid the proliferation of real time data from sources such as mobile devices, web, social media, sensors, log files and transactional applications, Big Data has found a host of vertical market applications, ranging from fraud detection to R&D.
Despite challenges relating to privacy concerns and organizational resistance, Big Data investments continue to gain momentum throughout the globe. SNS Research estimates that Big Data investments will account for nearly $30 Billion in 2014 alone. These investments are further expected to grow at a CAGR of 17% over the next 6 years.
The “Big Data Market: 2014 – 2020 – Opportunities, Challenges, Strategies, Industry Verticals & Forecasts” report presents an in-depth assessment of the Big Data ecosystem including key market drivers, challenges, investment potential, vertical market opportunities and use cases, future roadmap, value chain, case studies on Big Data analytics, vendor market share and strategies.
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The report also presents market size forecasts for Big Data hardware, software and professional services from 2014 through to 2020. Historical figures are also presented for 2010, 2011, 2012 and 2013. The forecasts are further segmented for 8 horizontal submarkets, 15 vertical markets, 6 regions and 34 countries.
The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
The report has the following key findings:
In 2014 Big Data vendors will pocket nearly $30 Billion from hardware, software and professional services revenues
Big Data investments are further expected to grow at a CAGR of nearly 17% over the next 6 years, eventually accounting for $76 Billion by the end of 2020
The market is ripe for acquisitions of pure-play Big Data startups, as competition heats up between IT incumbents
Nearly every large scale IT vendor maintains a Big Data portfolio
At present, hardware sales and professional services account for more than 70% of all Big Data investments
Going forward, software vendors, particularly those in the Big Data analytics segment, are expected to significantly increase their stake in the Big Data market as it matures
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