Global Big Data Market, By Component (Hardware, Software, Services), By Type (Structured Data, Unstructured Data) By Application (Financial Analysis, Risk Analysis) By End User (Government, Healthcare, Transportation and Logistics, Aerospace) opportunities and forecast 2020-2027
Market OverviewBig data can be defined as huge data sets which are analysed computationally for the revealing trends, patterns and associations relating to the human behaviour and interactions. The big data has numerous characteristics which include variety, volume, velocity and veracity. Cloud computing and big data is a perfect combination for addressing security concerns. Continuous evolution of the cloud computing and big data is providing the efficient, cost-effective, and powerful structures to support the business analytics. The big data market is undergoing a massive growth due to the significant increase in the spending on R and D and organizational data.
Global organizational expenditure is projected to reach above USD 500 billion by end of 2024. Growing number of the heterogeneous data created from web clicks increasing necessity to monitor and manage the data that will significantly drive big data market growth in near future.
Segment OverviewThe rising adoption of the social media analytics in the BDaaS to monitor the consumer preferences and deliver personalization insights is expected to propel the market growth during the forecast period. Furthermore, the increasing significance of the sentiment analysis has encouraged enterprises to incorporate social media into the business processes. This has led to a large amount of the data being stored by the organizations, which is expected to drive the market growth during the forecast period.
Regional OverviewNorth America is expected to hold largest share of the global big data market in 2019 and is anticipated to lead the market over the forecast period. The market is expected to grow at considerable CAGR during the projection period. Enormous penetration of the advance tools and growth in the data generation from various industries is propelling the growth of the big data market in the region. Europe accounted for the second largest share in the global big data market and is anticipated to grow at a considerable rate during the forecast period.
Growing manufacturing industries in the Asia Pacific predicts the region to be the fastest growing for global big data market. Countries including India, Japan, and China are projected to lead the big data market in the region over forecast period. Middle East and Africa and Latin America regions presently holds smallest share in the terms of revenue, also shows countless potential to garner unexploited business prospects for big data services and analytics during the forecast period.
Competitor overviewLeading industry players includes IBM, Google, HP, SAP, Oracle, and Cloudera are progressively spending in R and D, for the growth of combined big data solutions to offer enhanced analytics and unified management of data. Corporations are focusing on the mergers and acquisition to expand their product portfolio with the big data and other mainframe technologies. For instance, in 2015, company Microsoft acquired the Revolution Analytics to develop its business for the cloud base platform. IBM acquired Cloudant and Cleversafe to reinforce its cloud platform business.
Key Players
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- Splunk Incorporated
- Amazon Web Services
- Intel Corporation
- NetApp, Inc.
- Google
- TIBCO Software Inc.
- Dell Inc.
- VMware Inc.
- MicroStrategy, Inc.
- SAP SE
- EMC Corporation,
- Cloudera, Inc.
- Karmasphere Inc.
- HORTONWORKS, INC.
- Teradata Corporation
- HP Enterprise
Market SegmentationBy Component
- Hardware
- Software
- Services
By Type
- Structured Data
- Unstructured Data
By Application
- Financial Analytics
- Customer Analytics
- Risk Analytics
- Operational Analytics
By End Use
- Banking & Finance
- Government
- Aerospace and Defense
- Transportation & Logistics
- IT & Telecommunication
- Healthcare
- Manufacturing
- Energy & Utilities
- Other Sectors (Education)
By Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA