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.
Access Full Research Report on Global Big Data Market:
http://www.grandviewresearch.com/industry-analysis/big-data-industry
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 related reports from same category by Grand
View Research:
Grand View Research has segmented the Global 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 Blog of this research report by Grand View
Research: 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.
For More Information: www.grandviewresearch.com