Global big data market is expected to grow at a CAGR of 22.4% during the forecast period and reach USD 200 billion by 2024.

Growing Investment From Several Industry Verticals to Propel Big Data Market Growth

Wiseguyreports.Com Adds “Big Data – Global Market Growth, Opportunities, Analysis Of Top Key Players And Forecast To 2024” To Its Research Database.

Report Overview:

Big data is referred to large and varied sets of data and examination of such data for identifying customer trends and preferences, relations, data patterns for companies to aid better decision making. Companies are expected to use advanced analytics techniques for large and diversified sets of data, enabling researchers, analysts, and business owners. This is done to make decisions on the basis of data that was previously inaccessible. A large number of companies are known to invest in big data analytics, which has led to the banking and the manufacturing industry to invest higher amounts in big data analytics. Further, owing to security and compliance issues, such investment has happened rather quickly.

Big data, combined with cloud computing is perfect to address security concerns. The constant evolution of big data and cloud computing is expected to present solutions that are cost-effective, efficient, and integrated with powerful infrastructure. The bid data market is expected to showcase massive growth over the forecast period. This growth is attributable to the impressive rise in the spending of organizations on data and research. Further, increasing number of heterogeneous data being generated through clicks is leading to a rise in need for the management and monitoring of data which is bound to significantly impel the growth of the big data market in the forthcoming years.

Key Market Players
• IBM Corporation
o Synopsis
o Business Strategy
o Product Portfolio
o SWOT Analysis
• Oracle Corporation
• Amazon Web Services
• Microsoft Corporation
• Splunk Incorporated
• Intel Corporation
• TIBCO Software Inc.
• NetApp, Inc.
• Google
• Dell Inc.
• SAP SE
• VMware Inc.
• MicroStrategy, Inc.
• EMC Corporation,
• HORTONWORKS, INC.
• Cloudera, Inc.
• Karmasphere Inc.
• Teradata Corporation
• HP Enterprise

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Market Segmentation:

The global big data market is segmented by type of data, components, application, end-user, and region. Based on the type of data, the global big data market is segmented into unstructured data and structured data. Based on components, the global big data market is segmented into services, software, and hardware. The software segment is expected to lead the global big data market through the forecast period.

Based on application, the global big data market is segmented into risk analytics, financial analytics, operational analytics, and customer analytics. Among these, the customer management segment is expected to mushroom at a high rate owing to a growing focus of the majority of companies on this type of big data analytics. Based on end-user, the global big data market is segmented into healthcare, banking and finance, government, transportation and logistics, aerospace and defense, IT and telecommunication, energy and utilities, manufacturing, and education.

Detailed Regional Analysis:

The big data market has been segmented and studied into the regions of North America, Latin America, the Middle East & Africa, Europe, and Asia Pacific. North America is anticipated to spearhead the global big data market during the forecast period. Owing factors include the presence of major big data anylicts players in the region and the presence of a well-established infrastructure to enable smooth integration. On the other hand, Asia Pacific is estimate to grow at the fastest rate during the forecast period owing to a wider scope of applications in the business industries.

Industry Update:

Global big data market is expected to grow at a CAGR of 22.4% during the forecast period and reach USD 200 billion by 2024.

Continued…..

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