Global Big Data Market to Expand at 3.5% CAGR by 2021, Driven by Increasing Accumulated Data
Market Research Reports Search Engine (MRRSE), has announced the addition of a new report titled, ‘Big Data Market – Global Scenario, Trends, Industry Analysis, Size, Share And Forecast 2012 – 2018’ to its repository. The research report discusses the drivers of the global big data market by considering geographical regions, product requirements, applications, and components. The research analysis also highlights the leading companies of the global big data market.
By components, the global big data market is divided into software and services, and hardware and storage. Of these, the global big data market is dominated by the software and services segment. Storage segment is expected to grow rapidly in the next five years due to growth in generated data. The application segment of the global big data market is classified into financial services, healthcare, government, manufacturing, telecommunication, media and entertainment, retail, and others. Healthcare, financial services, and the government sector collectively led the global big data market in 2012 with 55% of the market. The healthcare segment and media and entertainment segment is expected to expand at a 42% CAGR during the period from 2012 to 2018. The media and entertainment segment is primarily driven by fuelling demand for data in the form of images, video, and games.
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The market research report segregates big data of key market players as per major geographical regions. By geography, the global big data market is divided into North America, Asia Pacific, Europe, and Rest of the World. North America led the global big data market in 2012 with 55% market share. Asia Pacific market is predicted to expand rapidly at a 42.6% CAGR during the period from 2012 to 2018. North America segment is forecast to face certain challenges, which will limit its growth during the forecast period. Shortage of skilled people to manage and analyze the big data, is expected to hamper the growth prospects of the North America big data market.
The market research report highlights the summary of global big data market by considering product requirements, which include existing Database Management Systems (DBMS), Hadoop, Relational Database Management Systems (RDBMS), Structured Query Language (SQL), and others. A comparison between Hadoop and Structured Query Language (SQL) database included in the report provides a clear idea about why Hadoop is more popular than SQL in the current global big data market.
The report considers primary and secondary research sources to derive elemental information regarding the market. It also profiles the key market players of the global big data market. Companies belonging from the pharmaceutical and medical product industries, patients and providers, generate bigger chunks of data. A bigger section of clinical data is yet to be digitized. Mounting big data has led to the introduction of advanced technologies to analyze and manage the data efficiently. For instance, Hadoop technology is currently used by Facebook, eBay, Yahoo, and LinkedIn. Some of the key market players in the global big data market are Hewlett-Packard Co., Teradata Corporation, Opera Solutions, Mu Sigma, Splunk Inc., Cloudera, EMC, IBM, Calpont Corporation, and Oracle.