Exploding Data Volumes and Limitations of Traditional Data Management Tools Drives the Global Big Data Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Big Data markets. The global market for Big Data Technology and Services is projected to reach US$33.2 billion by the year 2018, primarily driven by exploding data volumes in organizations and the limitations of traditional data management tools. Innovations by pure-play vendors and growing demand from developing countries also augur well for the future of this market.

Big Data: A Global Strategic Business Report

Follow us on LinkedIn – In this information driven world, the volume of data being generated electronically is exploding at a robust pace. The digital era, which ushered in a new age of electronic data capture, has made it easy for all, including private companies, government agencies and individuals to efficiently capture, browse, store and share information, thereby leaving an enormous data trail. Private companies in particular, have been major contributors to this information explosion, creating huge volumes of data on their customers and other business partners, while simultaneously generating equally huge volumes of transactional data as they sell a product or a service. For instance, widespread implementation of CRM and ERP solutions have contributed towards enterprise data explosion by triggering exponential growth in the volume of information generated about partners, suppliers and customers.

Data volume has only got bigger in recent times with networked sensors rapidly being integrated into the world of ‘Internet of Things’, connecting common devices such as mobile phones, cameras, automobiles, televisions, HVAC equipment, energy meters, and even industrial process machinery to digital networks and allowing them to sense, capture and even exchange data, thereby fuelling data explosion further. This brings into spotlight the term “Big Data”, which refers to extremely large datasets of structured and unstructured data belonging to different data categories such as text, video, and audio generated from diverse sources, incapable of being handled with conventional database management and analysis tools. The term “Big Data” is also characteristic of the sheer volume, speed, velocity, diversity of data accumulation and the importance of mining these large data stores, which earlier was limited by technology restrictions.

As companies focus on deriving real business value from big data, the ensuing trend towards connecting big data environments into business intelligence reporting, is poised to turbocharge growth in the big data technologies space. Importance of big data and demand for big data technologies and services is forecast to grow rapidly in the immediate future in sync with technology developments and with the growing realization of the importance of mission critical information in identifying and tapping opportunities in the marketplace. Integration of Big Data and Business Intelligence (BI) is expected to help companies run smarter, faster, and compete more successfully in challenging global markets by judiciously navigating and negotiating through crucial periods of change that insidiously hits markets. While advanced big data analytics help provide exploratory insights into data, BI systems and tools help provide a structured user interface in terms of data visualization. Tools for taming big data and tackling its enormous data size are already making a commercial appearance in the market.

Big data technology solutions are currently offered either as software only, or as an integrated appliance comprising hardware and software components, or as cloud based services. In the upcoming years, on-demand cloud based big data solutions are poised to grow in popularity as enterprises increasingly opt for hybrid solutions and focus on supplementing in-house deployments with on-demand cloud solutions. This is primarily because of the fact that although harnessing big data offers invaluable insights into market moods and helps companies more realistically paint the business landscape, the strategy involves bottlenecks encountered in the form of limited in-house storage and computing capabilities. These challenges are effectively met through cloud solutions such as, cloud storage services designed to help companies manage big data in the cloud and cloud analytics designed to provision data analytics processes through the cloud (public and/or private).

As stated by the new market research report on Big Data, Big Data Services is the largest market segment. Hardware segment, another prominent market will be driven by growing need for establishing new or expanding the current physical storage infrastructure for handling exploding data volumes.

Major players in the global marketplace include International Business Machines (IBM), Intel Corporation, Hewlett Packard, Oracle Corporation, Teradata Corporation, Fujitsu (Japan), EMC Corporation, Splunk Inc., 1010data, Inc., Cloudera Inc., Think Big Analytics, MapR Technologies Inc., ParAccel Inc., Hortonworks Inc., among others.

The research report titled “Big Data: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections by Annual Revenue (in US$ Billion) for major segments – Software, Hardware and Services.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Big_Data_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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