The Report Big Data Market
Analysis By Hardware (Storage, Server, Network Equipment), By Service
(Consulting, Maintenance, Training & Development), By End-Use (BFSI,
Manufacturing, Retail, Gaming, Telecom), By Region & Segment Forecasts,
2018 - 2025
The 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.
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.
Grand View Research has
segmented the 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
·
Europe
·
Asia Pacific
·
Latin America
·
The Middle East & Africa
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.
