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Big Data Technology and Services Market worth 183,900 Million by 2026

02-01-2018 08:14 AM CET | IT, New Media & Software

Press release from: Fact.MR

Fact.MR

Fact.MR

There has been an increase in the adoption of big data services as it provide assistance to an organization in making business decisions. Various industries including healthcare, media and entertainment, manufacturing, retail and transportation are adopting big data services on a large scale. With an increase in adoption of smart services big data analytics is expected to allow smart technological capabilities to be incorporated in enterprise solutions. This report, compiled by Fact.MR, provides in-depth analysis of the global big data technology and services market for the forecast period 2017-2026, offering key insights on the growth prospects of the market.

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The next section offers an overview of the global big data technology and services market. This section includes definition of the product – big data technology and services, along with insights on dynamics contributing towards growth of the market. The overview also throws light on year-on-year growth and market value defining the future progress and decline of the global big data technology and services. Statistics on the year-on-year growth provides readers with a broader view on expected progress patterns reshaping growth over the forecast period.

In the succeeding section, the report offers insights on major trends, retrains and drivers from demand, supply and macro-economic perspectives. The report also focuses on impact analysis of key drivers and restraints that offers better decision-making insights to clients.

The report further provides the readers with information on the leading technology and advancements traced in the global big data technology and services market. Up-to-date information and latest advancements regarding growth opportunities can benefit the leading manufacturers of big data technology and services. With continuous evolution and advancements in technology, tracking the latest trends and developments is fundamental for big data technology and services manufacturers to formulate key business strategies. Detailed insights regarding the supply chain, list of distributors, raw material sourcing, cost structure, and pricing analysis are provided in this section.

4 Forecast Highlights on Global Big Data Technology and Services Market

1. North America is expected to remain dominant in the global big data technology and services market during the forecast period 2017-2026. A significant increase in data generation from various industry verticals is one of the key factors driving the big data technology and services market in North America. Big data technology and services market is witnessing growth in the U.S. and Canada. Moreover, healthcare and retail industry are the largest users of big data applications.

2. The software is expected to gain maximum traction in global big data technology and services market. By the end of 2026, software is estimated to surpass US$ 72,400 million revenue.

3. BFSI is likely to emerge as one of the largest industries in the global market for big data technology and services between 2017 and 2026. BFSI is projected to bring in close to US$ 33,700 million revenue towards 2026 end.

4. Big data technology and services to find the largest application in datacenter networking infrastructure during 2016-2026. Datacenter networking infrastructure is estimated to bring in nearly US$ 40,900 million revenue by the end of 2026.

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Supply Chain Management to Impact Global Market Growth

Unstructured data accumulation from abundant sources in the supply chain operations can obstruct the decision making process. As managing data flooding from various channels continues to pose significant challenges, supply chain managers are focusing on opting for leading technological solutions that enable segregating the overflow of data in an organized format. Incorporation of leading technological solutions further harness the potential of data analysis has led the supply chain managers to opt adopt big data solutions. Through implementation of the big data sources, the supply chain managers can optimize the cost and improve the efficiency and agility of the process. As overflow of information can offer enhanced and effective decision making process and solutions, adoption of the big data technology and services continues to remain high in the global market.

However, implementation of big data technology leads to modifying the entire approach and analysis patters. Modification in the entire approach further leads to additional investments and expenses. Moreover, various tools offered for management and analysis of data are unable to handle real-time analysis. These factors are expected to impact growth of the global big data technology and services market negatively during the forecast period.

BFSI Industry to Represent a Leading Segment

As the need for gathering and analyzing valuable business information and insights arises, demand for big data analytics software continues to remain high. On the basis of category type, the software segment is expected to represent the highest revenue growth, accounting for a value of over US$ 22,100 Mn by the end of 2026. In addition, the software category type segment is expected to register a significant CAGR throughout the forecast period.

Based on industry, the BFSI segment is expected to witness a significant revenue growth, recording a value of over US$ 1,400 Mn by the end of 2017. On the other hand, the retail & consumer goods industry segment is expected to register a healthy CAGR through 2026.

By application, the analytics and discovery segment is expected to generate significant revenues, accounting for a value of over US$ 12,100 Mn by the end of 2026. In contrary, the datacenter networking infrastructure application segment is expected to register a robust CAGR during the forecast period.

Competition Tracking

Leading market players operating in the global big data technology and services market include IBM, Oracle Corporation, Microsoft Corporation, HP, SAP SE, Amazon Web services, Dell Incorporation (EMC), Teradata, Cisco Corporation and SAS Institute.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized ICT market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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