(PRWEB) September 05, 2014
The research report conducted on "Big Data Market by Types (Hardware; Software; Services; BDaaS - HaaS; Analytics; Visualization as Service), by Software (Hadoop, Big Data Analytics and Databases, System Software (IMDB, IMC) - Worldwide Forecasts & Analysis - 2018", by MarketsandMarkets, segments the global big data market in to various sub segments with in-depth analysis and forecasting of revenues. It also identifies drivers & restraints for this market with insights in to trends, opportunities and challenges. MarketsandMarkets had segmented the big data market by types or components: hardware, software, services and cloud services; by verticals; by regions; North America (NA), Asia-Pacific (APAC), Middle East & Africa (MEA) and Latin America (LA).
Browse 136 market data tables and 33 figures spread through 246 pages and in-depth TOC on “Big Data Market - Worldwide Forecasts & Analysis - 2018”.
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Big Data Market - Widespread adoption of big data technologies among enterprises, to leverage data dump into a flexible and meaningful resource.
There has been a significant rise in the growth of unstructured data from multiple sources across the globe. Big data has the vast potential to derive insights that provides competitive advantage in business. Big data also provides opportunity to enable innovative business models, as traditional models fail to meet underlying requirements of enterprises. Emergence of companies providing dedicated big data solutions such as NoSQL databases, Hadoop distribution products, data visualization tools and system software, expected to make the big-data market ecosystem complex.
Another factor responsible for increase in adoption of big data technologies among enterprises is the growing variation of the types of data used for analysis. The data can be unstructured as well as semi structured or even limited to specific pattern or formats such as social media data and web activity logs. To extract usable insight out of this data, enterprises must enhance their existing data management solutions to provide semantic and log stream analytics.
There has been a major confusion about the solutions available for big data. The solutions available are complex in nature and difficult to understand and the companies are unable to implement these solutions. Foreseeing these issues, there is a large demand in the market for enterprise grade professional and integration services across the globe. This surging demand is also driving the overall growth of big data market.
There has been major emphasis on companies to provide end-to-end business processes to fully integrate analytical models and enhance the data management capabilities to optimize performance. The emerging big data technologies are enabling broad scale analytics and bringing in new facets of technology to optimize the performance and efficiency. In addition, the open source platform had lowered the barriers of entry for new players. It is also expected that large no of venture capitalists (VC) would invest in this market to propagate the growth of new and innovative players.
These growing trends have pushed the overall market of big data. The global market for big data expected to grow from $14.87 Billion to $46.34 Billion by 2018, at an estimated Compound Annual Growth Rate (CAGR) of 25.52% during the forecasted period. In the current scenario, the services segment continues to be the largest segment, in terms of consulting and integration & deployment services. The software segment expected to grow at an estimated Compounded Annual Growth Rate (CAGR) of 28.7%. In terms of Regions, North America expected to be the biggest market based on revenue and adoption of big data technology & solutions. MarketsandMarkets further expects that the increasing big data market in the developing economies will further enhance the growth of overall market.
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