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Global Big Data Market to Grow at 27% CAGR From 2015 to 2020 – Novonous

Storage segment controls third largest market share and to become leader in 2020.

Novonous Business Consulting Pvt Ltd estimates that Global Big Data market will grow at a CAGR of 36.67% by 2020.

This growth is mainly due to increasing penetration of big data in various sectors, increase in analytics services and availability of affordable big data solution and services to end users.

Organizations worldwide are turning their attention to big data as a useful means to derive insights from the huge amount of data generated from various sources. Technologies such as NoSQL databases and MapReduce/Hadoop frameworks are at the core of the solutions heralding a paradigm shift.

This research found that high investment costs, lack of awareness and novelty have been the main threats for new entrants in the big data space. There are a few major players who control the entire value chain. However, many smaller players have mushroomed who provide consulting in the analytics space.

This research also found that most organizations misunderstand big data and it is important to educate the end users through face to face interactions.

The main growth driver for the big data industry is the sheer volume of data that is being generated across various industries due to changing business environment.

The growth inhibitors for the big data industry have been the slowdown in the global economy, a decrease in investment in R&D, lack of quality resourcing and unemployment.

Key Findings and Market Trends in Global Big Data Market

  • Big data services segment which includes big data consulting, big data analytics, etc currently controls the largest market share in Global Big Data market. Services market is expected to grow at a CAGR of 25.65% till 2020.
  • Big data software segment controls the second largest market share. It is expected to grow at a CAGR of 38% till 2020 and maintain its market share position even in 2020.
  • Big data storage segment controls the third largest market share in Global Big Data market. It is expected to grow at a CAGR of 55.50% till 2020 and become the leader in terms of it’s market share position in 2020.
  • In terms of industry verticals, big data in financial industry which currently controls the largest market share in terms of revenue. The market is expected to grow at a CAGR of 35% till 2020. It is also estimated that the amount of investment done by the financial industry in big data will be about 0.02% of their total revenue by 2020.
  • Big data in manufacturing industry which currently controls the second largest market share in terms of revenue in Global Big Data market. The market is expected to grow at a CAGR of 15% till 2020. It is also estimated that the amount of investment done by the manufacturing industry in big data will be about 0.04% of their total revenue by 2020.
  • Big data in telecom industry controls the third largest market share in terms of revenue in Global Big Data market. It is expected to grow at a CAGR of 65% till 2020 and become the leader in terms of it’s market share position in 2020. It is also estimated that the amount of investment done by the telecom industry in big data will be about 2.41% of their total revenue by 2020.
  • In terms of geographies, North America controls the largest market share in terms of revenue in the global market. It is expected to grow at a CAGR of 35.80% till 2020 and maintain it’s market leader position even in 2020.
  • Europe controls the second largest market share in terms of revenue in Global Big Data market. It is expected to grow at a CAGR of 36.50% till 2020 and maintain it’s market position even in 2020.
  • AsiaPac controls the third largest market share in terms of revenue. It is expected to register second largest growth rate of 43% till 2020 and maintain it’s market position even in 2020.
  • Middle East & Africa big data market, which currently has the smalles market share in terms of revenue, is expected to register fastest growth rate of 45.30% till 2020 and improved it’s market position in 2020.

The report has detailed company profiles including their position in big data market value chain, financial performance analysis, product and service wise business strategy, SWOT analysis and key customer details for 12 key players in the market namely TEG Analytics, Heckyl Technologies, KloudData Inc., Gramener, Germin8, VIS Networks Pvt. Ltd., Abzooba, Fintellix, Latentview, Indix, Analytic-Edge and Tookitaki.

This report, Global Big Data Market 2015-2020, is sold by Report Buyer Ltd (175 pages and 106 exhibits, €4,546)

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