Big Data Market Provides an In-Depth Insight of Sales, Revenue, Analysis of Growth Factors and Upcoming Trends, Opportunities by Types and Application to 2030

Kenneth Research has recently added a market research study on Big Data Market 2023 which provides a complete comprehensive analysis including the data by Segmentations, by Geography and as well as the competitive landscape of the top 10 Vendors in this market In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Big Data Market over the period 2019-2026

Market Snapshot

The global big data market is expected to grow at a 13.35% CAGR from 2018 to 2023. Towards the end of the assessment period, the market is likely to surpass a valuation of USD 81,500 million. There is tremendous application potential for big data as enterprises are increasingly investing in the technology to streamline their operations. Big data analytics is enabling development of data-driven applications targeted to improve business agility.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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Global Big Data Market, By Region

In 2017, North America was the largest market for big data  and the trend is likely to continue during the projected future. In 2017, the North America big data market was valued at USD 17,435.7 million and is expected to register a CAGR of 12.4% from 2018 to 2023. Enterprises in the US and Canada are adopting big data analytics solutions at a  rapid pace owing to theirstechnological benefits.  At the same time, North America is also home to some the leading tech giants such as IBM corporation, Oracle Corporation, Microsoft Corporation among others, which is favorable factor for the market in the region.

Companies Covered

Cisco Systems Inc., IBM Corporation, Microsoft Corporation, Dell Technologies, Amazon Web Services, Oracle Corporation, Cloudera Inc., Hitachi Ltd., Teradata Corporation, SAP SE, Accenture PLC, Tableau Software, Fair Isaac Corporation, Hewlett Packard Enterprise Company, Splunk Inc.

The market growth is expected to remain influenced by micro and macroeconomic factors, government support and industry development. Investing in R&D pipeline will benefit players in the long run. Innovation and awareness about technological developments will be crucial for maintaining a competitive edge.The report covers the development strategies adopted by the companies between 2015 to 2018.

Key Development

In January 2018, Iteris Inc. partnered with Cisco Systems Inc. to deliver smart city connected roadway solutions. Reportedly, the pair is also planning to work on a video detection platform, which will be powered by Cisco Kinetic’s advanced networking capabilities.Dell EMC recently announced the enhancement of hybrid cloud and modern data center operations with the help of VMware to help customers to accelerate innovation and simplify operations

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Amazon Web Services recently announced a new open source project ‘SageMaker Neo’ to optimize the performance of machine learning models for various platforms.

Market Segmentation

By Component – Hardware (Network Equipment, Server and Storage), Software (Analytics, data discovery and visualization, data management and Hadoop Distribution Products and Tools) and Service (Hadoop as a Service, Data as a Service, Analytics as a Service, Deployment and Integration Service and Consulting Services)

By Technology – Predictive Analytics, Machines Learning & Data Mining, Natural Language Processing, Stream Processing, Hadoop, NoSQL, and MPAD.

By Organization Size- Large Enterprise and SMEs.

By Deployment- On-Premise and On-Cloud.

By End-User – BFSI, Manufacturing, IT, Government, Telecommunications, Transportation, Healthcare, Energy & Utilities, Retail and Others.

Component Analysis

The service segment held 39.6% market in 2017, with a valuation of USD 15,361.5 million. During the forecast period, the segment is projected to grow at a CAGR of 15.1%. There are various types of big data services , which are being used to  manage and undertake critical data processing tasks.

Technology Analysis

In terms of value, the machine learning & data mining segment represented 20.9% market share in 2017. The segment is poised to grow at a CAGR of 12.0% during the forecast period. Data mining is used to decode unstructured big data and identify patterns for better decision making, meanwhile, machine learning corelates them to apply algorithms to aid data management.

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Organization Size Analysis

In 2017, the SMEs segment accounted for 59.6% of the overall market share and is projected to witness a strong CAGR of 14.1% during the forecast period. Rapid development of IT infrastructure has propelled the growth of small and medium-scale enterprise, which is a key driver for the market.

Deployment Analysis

The on-cloud segment accounted for the largest market share of 61.3% in 2017 with a market value of USD 23,754.2 million. It is projected that the segment will register a CAGR of 15.2% from 2018 to 2022. This is due to the cost benefits offered by deployment of cloud-based big-data infrastructure.

End-Use Analysis

In terms of value, the IT segment accounted for 19.7% share of the market in 2017, with a valuation USD 7,639.4 million. The segment is expected to witness a healthy growth rate over the next couple years. A massive amount of unstructured data is generated by business that provide IT services. Big data solutions are utilized for processing such large proportion of unstructured data.

Key questions addressed by the report

Which applications / segments provides the maximum growth opportunity?

What are the emerging technologies and how it would disrupt the market?

Who are the key players dominating the market, followed by other prominent vendors and strategies adopted by them?

What was the market size and what would be the forecast in next few years?

Regional and country attractiveness: mid to long term outlook?

Market dynamics including trends, opportunities, drivers, challenges and how this would impact the market eco-system?

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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