Big Data Market 2016-2021

Component, Type, Deployment Model, Vertical, and Region Analysis & Forecasts for the $66 Billion Industry - Research and Markets

DUBLIN, May 17, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Big Data Market by Component, Type, Deployment Model, Vertical, and Region - Global Forecast to 2021" report to their offering.

The big data market is estimated to grow from USD 28.65 Billion in 2016 to USD 66.79 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.45% during the forecast period.

The analytics solutions have gained significant traction among various corporates due to the tremendously increasing data. Hence, the adoption of big data analytics solutions by various organizations across numerous industries worldwide is one of the major factors for the growth of big data market.

The global big data market report quantifies the market for components, types, deployment models, verticals, and regions. Among software, big data analytics is expected to grow at the highest CAGR as well as would hold the highest market share during the forecast period. This can be attributed to the fact that business organizations are looking for advanced analytical solutions to get actionable insights from the data that gets generated in an organization. In terms of services, managed services show great opportunity and the segment is projected to grow at the highest CAGR by 2021.

The big data market by type includes structured, semi-structured, and unstructured data types. With the increasing amount of unstructured data, organizations are adopting more big data solutions to analyze and manage unstructured data.

The big data market is thriving, and is expected to present huge opportunity for big data vendors in the next five years. The report provides detailed insights into global big data market, which is segmented by component, type, deployment model, vertical, and region. The market has been segmented into diverse industry verticals, including BFSI, government and defense, healthcare and life sciences, manufacturing, retail and consumer goods, media and entertainment, energy and utility, transportation, IT and telecommunication, academia and research, and others.

The report covers all the major aspects of the big data market and provides an in-depth analysis across the regions of North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to hold the largest share. The APAC region is projected to have great opportunities in this market and would grow at the highest CAGR by 2021 due to the presence of various developing countries, such as China, India, and the Philippines.

Due to loopholes in traditional architecture & infrastructure and the big data talent gap, organizations may find it difficult to deploy big data solutions and services. Though the investments involved in IT sector are quite huge, the enterprises are slowly getting aware of the importance and benefits of these big data solutions, such as getting real-time access of the data that helps in in decision making process. Therefore, the big data market vendors are expanding their footprints to not only in local regions but also globally.

Various vendors are developing innovative big data software and services due to the tremendous amount of data, increase in the number of mobile devices and apps and the switch from analog to digital technologies. IBM is one of the global leaders in manufacturing and marketing hardware, middleware and software. To increase its presence in big data market, IBM has acquired various companies which would provide it with data assets and insights within the big data landscape. The other major vendors providing big data software and services are Oracle, HPE, Microsoft, SAP SE, SAS Institute, Microsoft, Amazon Web Services, Dell, Teradata, and Splunk, among others. These players adopted various strategies such as new product launches, partnerships, collaborations, and expansions to become competitive in the market.

Source: Research and Markets

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