- 18 March 2019 23:08
Global Big Data Market Growing Rapidly due to Increasing Adoption of Big Data Analytics by Various Sectors
Big data are large structured and unstructured data sets that can be analyzed using analysis tools to understand a particular pattern, human behavior, trend, etc. The data can be collected using various means such as mobile devices, emails, database, servers, and others.
Increasing penetration of internet, increasing adoption of cloud services and solutions, and increased amount of data are major factors driving growth of the Big Data Market. In addition, increasing adoption of big data from banking, financial services, and insurance (BFSI) sector for risk management and to optimize customer service and to enhance customer experience is another factor driving growth of the target market. Moreover, increasing demand for real time analytics from various sectors is another factor expected to further fuel growth of the global big data market to a significant extent over the next 10 years.
The Big Data Market is segmented on the Basis of component, end-use industry and regions. On the basis of component, the global market is segmented into Hardware, Software and Consulting, Deployment & Maintenance, Training & Development. The Software segment accounts for highest revenue share and is expected to witness significant growth during the forecast period.
On the basis of end-use industry, the global market is segmented into Banking, Financial Services, and Insurance (BFSI), Media & Entertainment, Manufacturing, Retail, Healthcare, Telecommunication & IT, Government and Education. The Media & Entertainment segment is expected to account for highest market share in the global market and expected to witness highest growth in terms of revenue during the forecast period.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The market in Asia Pacific accounts for highest share in terms of revenue in the global market. The Asia Pacific market is expected to witness highest growth in terms of revenue over the forecast period.
Key players in the global market include International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Amazon Web Services, Hitachi Ltd., Dell Technologies, Teradata Corporation, Splunk Inc.