Global Big Data Market is accounted for $31.93 billion in 2017 and is expected to reach $156.72 billion by 2026 growing at a CAGR of 19.3% during the forecast period. Increase in number of mobile devices & apps, the growth of the healthcare industry and big data solutions enhancing organizational return on investment are some of the factors influencing the market growth. However, factors such as lack of awareness of benefits of big data solutions & services as well as privacy & security concerns in big data are hindering the market.
Some of the key players profiled in the Big Data market include International Business Machines (IBM) Corporation, Oracle Corporation, Microsoft Corporation, Hewlett-Packard Enterprise, SAP SE, Amazon Web Services, SAS Institute, Dell, Inc, Teradata Corporation, Splunk, Palantir Technologies, Inc, Guavus, Inc, Hitachi, Ltd, Cloudera, Inc, Hortonworks, Inc, Google Inc, Accenture plc, Fujitsu (Japan), Datameer, Inc and Actian.
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Big data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems. Big data solutions enable organizations to effectively manage large data volumes thereby reducing cost. It is initially emerged as a term to describe datasets whose size is beyond the ability of usual databases to capture, store, manage and analyze.
Amongst type, unstructured data segment held considerable market growth during the forecast period as there is rising amount of unstructured data organizations are adopting more big data solutions to explore and handle unstructured data. By geography, North America is anticipated to dominate the global market during the forecast period owing to high adoption of analytics across countries of North America. In addition, Asia pacific registered for highest growth rate due to growing amount of data generation as well as high penetration of internet across the region.
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Deployment Models Covered:
End users Covered:
-Academia and Research
-IT and Telecommunication
-Energy and Utility
-Media and Entertainment
-Retail and Consumer Goods
-Healthcare and Life Sciences
-Government and Defense
-Banking, Financial Services and Insurance (BFSI)
-Other End Users
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