Big Data Technology Market Future Scope & Leading Companies | IBM Corporation, Google LLC, Microsoft Corporation, Cisco Systems Inc., Apple Inc., Red Hat Inc., SAS Institute, Oracle Corporation, Amazon Inc., Facebook, Inc., Dell Technologies

The global big data technology market is set to experience an impressive growth trajectory owing to the rising investment in robotic automation. The overall big data technology market is expected to grow from USD 36.8 Billion in 2018 to USD 104.3 Billion by 2026 at a CAGR of 14% during the forecast period. According to experts, investment in robotic process automation will exponentially rise in the coming years. This shows that automation in the knowledge industry is lowering production costs for companies and more importantly, it is making processes efficient by streamlining them. This will be a major factor that will significantly augment the global big data technology market revenue during the forecast period.

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The report also contains a detailed analysis of the plausible market trends and factors that play an influential role in the stipulated time period. Additionally, assessment of the regions, segments, and major competitors has also been provided in a holistic manner in the report.

Big Data can be understood as a term that describes extremely large volumes of structured and unstructured data that businesses have to collect and analyze on a daily basis. Structured data is essentially numerical in nature that can be objectively analyzed. Unstructured data is one that is subjective in that it is retrieved from a variety of sources, such as social media, and needs to be interpreted in different ways. A combination of the two types of data creates Big Data, analyzing which requires different technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (ML).

List of top players in the global big data technology market are:

SAS Institute
IBM Corporation
Amazon Inc.
Google LLC
Dell Technologies
Cloudera, Inc.
Apple, Inc.
Microsoft Corporation
Siemens
Oracle Corporation

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"Growing IoT Application Areas to Boost the Market"

According to research by Cognizant, by 2020, the number of connected devices in the world is going to reach 30 billion, spiking the demand for IoT across sectors and industries. The research also highlights how profitable implementing IoT will be for businesses. For instance, it says that enterprises that integrate IoT into their processes can reduce their supply chain costs by 20% and increased productivity by 10 to 20%. This factor will contribute to the expansion of the global big data technology market size until 2026.

"Widening Scope of AI to Fuel the Market"

Growing evidence suggests that multiple sectors are actively adopting AI solutions. For example, McKinsey estimates that 75% of the service operations in the telecom sector are being performed using AI, while 52% of marketing and sales functions in the retail sector are being accomplished through AI. Ever-increasing volumes of data will require extensive use of AI technology, which will spur the global big data technology market growth in the coming decade.

"Investments in Big Data and Related Technologies to Propel Growth in North America"

North America, particularly the US, is witnessing the rising implementation of big data technologies across various industries. As a result, North America will occupy a prominent position in the global big data technology market during the forecast period. However, Asia-Pacific will hold the largest chunk in the global big data technology market share owing to the massive leaps made by Japan, China, and South Korea in IoT, Machine Learning, AI, Big Data Analytics, and other advanced technologies.

"Remunerative Opportunities Await Competitors"

In September 2019, Dubai-based Aramex announced that it would be transferring its on-site technology infrastructure onto Amazon Web Service (AWS) platform to enhance their data management capacities and improve customer experience. The global big data technology market is slated to gain as companies begin to acknowledge the productivity advantages that cloud computing and affiliated technologies have. Market competition in big data is also seeing a rising trend of acquisitions. For instance, Alibaba acquired Data Artisans in 2018 and transformed its online customer experience through the application of AI in its core operations.

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