Scope of the Report
The report titled “Global Big Data Market: Trends and Opportunities (2014-2019)”, analyzes the potential opportunities and significant trends in the global Big Data industry. The market size and forecast in terms of value for the global big data market has been provided for the period 2014 to 2019, considering 2013 as the base year. The report provides detailed analysis of the global big data market including an analysis of three board categories - services, hardware and software (including apps and analytics). The report provides sizing and future growth of these categories. In the Big Data hardware category, the sub segments included for analysis in the report are compute, storage and networking; in software Big Data market the sub segments included are NoSQL, SQL, infrastructure software; in Big Data service market sub- segments included are professional services and cloud services. The report also provides detailed market share analysis of the Big Data industry by type, by sub segments, by players, by sources and by end user base. And the report also profiles key market players such as IBM, Splunk Inc. and Accenture on the basis of attributes such as company overview, recent developments, strategies adopted by the market leaders to ensure growth, sustainability, financial overview and recent developments.
- Splunk Inc.
- Big Data Hardware - Compute, Storage and Networking
- Big Data Software – NoSQL, SQL, Infrastructure Software
- Big Data Services - Professional and Cloud Services
Big Data has become one of the most critical factors for the success of business in various fields. In the present scenario almost every business organization depends upon precise and accurate data for effective decision making. Many developing and emerging economies are also focusing on adopting this big data technology. The main driving force behind the growth of Big Data is the use of analytics to gain valuable insight from new and existing types of data sources, growth of Internet services, resulting in increased productivity, profitability, customer satisfaction, and competitive advantage.Another growth driver for big data is the rising unstructured data from several sources and the constant need of enterprises to optimize large workloads of data to enhance the overall efficiency of system.
Big data finds its application in large number of industries including healthcare, financial services, technology, telecommunications etc. Financial services, technology industry and telecommunications are the top three contributors of the big data market and together held more than 50% of the big data market in 2013. Over the next five years, big data industry revenue is forecasted to continue the upward trajectory due to emerging vendors’ focus on big data analytics, increasing M&A activity and keen demand across various sectors. The big data market is poised for significant growth which will come from early adopters who will graduate from small, proof-of-concept projects to large-scale production level deployments.
However, there are few challenges in the big data industry such as lack of big data skills availability, privacy concerns, infrastructure requirement, lack of security measures and solutions. Lack of data skills availability can be overcome by establishment of advanced training & learning centers and by launching various certification courses.