Published Date : Feb 21, 2018
ALBANY, New York, February 21, 2018 – A recent business intelligence publication on the big data as a service market is now available at the prestigious repository of MarketResearchReports.biz. The report, titled “Global Big Data Services Market 2017-2021,” has projected the demand to expand at a phenomenal CAGR of more than 24% during the forecast period of 2017 to 2021. The report begins with an elaborated overview of how the market for big data services market is in its current scenario and what are its figurative prospects in terms of demand. The valuations of the market has been represented in terms of US dollar million. The report segments the global big data services on the basis of end users and gauges the quantity and quality of demand that can be expected from various regions and countries. This is one of the primary aspect of the report as the analysts have recognized the limitations of region that many a vendors operate under and hence, showing them a way to expand further. To complete a thorough study, the report finishes off with a featured section on the competitive landscape of the global big data as a service market, wherein a number of prominent players have been evaluated for their market shares, business overview, product portfolio, recent strategic decisions such as mergers and acquisitions and collaborations, and geographical presence.
The analysts of the report have observed that big data has emerged as a mode for organizations to make profitable decisions in various aspects of their business. With the implementation of the technologies pertaining to big data, small and medium enterprises are able to gather information as well as insights into structured and unstructured information from various sources such as APIs, databases, file systems, streams, as well as other platforms and applications. In addition to that, these services are also going forward in crunching humongous amount of data that are otherwise complex to understand. The analysts have seen that industries that deal with manufacturing, healthcare, media and entertainment, retail and transportation, oil and gas. The report highlights the rising important of big data in the Internet of Things (IoT) as a rising trend in this market. With the help of big data analytics, SMEs are gaining an ability to sense data and collect them in terms of industrial equipment such as oil refineries and turbines.
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Based on end users, the global big data services market has been segmented into banking, financial services, and insurance (BFSI), telecom, and retail. In 2016, the BFSI segment provided for the maximum chunk of demand and is expected to maintain its leadership position throughout the forecast period of the report. This is a reflection of the benefits that big data offers in terms of valuable insights and the creation of separate models of fund management, trading, and controlling risks. Geographically, the report takes stock of the potential of demand that can be expected from the regions of Americas, Asia Pacific (APAC), and Europe and the Middle East and Africa (EMEA). Currently, Americas provide for the maximum demand, gaining traction from the rise in data generation across several industries owing to the increase in digital transformation. Growing emphasis of companies on websites and mobile apps.
As far as the competitive landscape in the global big data services market is concerned, the analysts of the report have detected that there are several established as well as developing companies re operating, primarily focusing on expanding their geographical presence while competing on the basis of features, product quality, pricing, and safety. PricewaterhouseCoopers (PwC), Hewlett-Packard (HP), Accenture, IBM, Deloitte, Teradata, and SAP are a few key companies that have been profiled in this report.
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