Big Data Market Sustained by Rising Use of Smartphones and Growing Demand for Smart City Technology


Published Date : Jul 03, 2017

Albany, New York, July 3, 2017: MarketResearchReports.com announces the addition of a new report on the global big data market. The report takes a close look at the burgeoning big data sector by examining the historical growth trajectory exhibited by the segments of the market. The dynamics thereof, which continue to have a deep impact on the way the market is likely to develop in the coming years, are assessed in detail in the report. The competitive dynamics of the global big data market and the economic factors governing the same are also studied in the report, titled ‘The Big Data Market: 2017 - 2030 - Opportunities, Challenges, Strategies, Industry Verticals and Forecasts.’

The global big data market is likely to feature prominently in the economy of the future due to the key role it can play in numerous applications, including governance. The big data sector consists of a network of technologies centered on the need to contain the rising amounts of digital data being generated by today’s consumers. Technologies that capture, store, analyze, and retrieve big data form the crux of the global big data market and are likely to become increasingly central to the way markets operate due to their application in understanding the user base better. The global big data market is thus likely to remain a central part of the economic movement in the coming years, ensuring a lucrative field of opportunity for new players.

The rising generation of digital data from smartphones has been a key reason behind the growth of the global big data market. The convenient access to social media enabled by modern smartphones has led to a significant rise in data generation volume, which has been a vital factor for the growth of the big data sector, including rising construction of data centers. The increasing use of smartphones as a primary personal computer has also helped drive demand from the global big data market, as web surfing has led to significant generation of digital data online.

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Investment in the global big data market is expected to exceed US$57 bn in 2017 and further exhibit a CAGR of around 10% till 2020.

Major challenges facing the global big data market include objections regarding the privacy of customers, as the regulations on the big data industry have yet to catch up with the multifaceted growth of the big data sector in a relatively short period of time. However, the growing awareness regarding the utility of the big data sector to individuals as well as institutional users is likely to help enable steady growth of the sector in the coming years.

The rising demand for smart city, smart manufacturing, and smart utilities technology is likely to remain a vital driver for the global big data market in the coming years. Big data technology is at the heart of these services and the growing government support to initiatives to support widespread adoption of smart solutions is thus likely to be important for the global big data market in the coming years.

Leading big data market players profiled in the report include Accenture, Cisco Systems, Alphabet, Amgen, Barclays Bank, Denso, Ofcom, Qualcomm, Procter & Gamble, Royal Dutch Shell, Microsoft Corporation, Linux Foundation, Intel Corporation, Philips, Verizon Communications, and Vodafone Group. The diversity of sectors encompassed by these and other key parties in the global big data market is a major positive for the global big data market and is likely to ensure a lucrative playing field.

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