Published on : Mar 29, 2016
ALBANY, New York, March 29, 2016: A new market intelligence study by ResearchMoz.us presents a detailed overview of the global Big Data market. The report is titled “The Big Data Market: 2015 - 2030 - Opportunities, Challenges, Strategies, Industry Verticals and Forecasts,” and is a professional research report providing an in-depth study of the big data market.
Big data is a term used to describe large sets of data that can be computationally analyzed to reveal trends and patterns. However, the size of big data is beyond the capacity of traditional databases to store, analyze and manage. Over the years, the term big data has come to not only refer to the large datasets, but also to the set of technologies that capture, store, analyze, and manage the big data, along with solving complex problems.
In recent times, there has been a rapid increase in real-time data from various sources such as mobile devices, social media, web, sensors, log files, transactional applications, and many others. This has resulted in a host of vertical market applications for big data, such as scientific R&D and fraud detection, thus boosting the market. However, privacy concerns and resistance from organizations may curb the adoption of big data investments. Despite the challenge, however, big data investments accounted for $40 bn in 2015 and are expected to expand further at a CAGR of 14% in the next five years.
Key approaches to process big data include Hadoop, NoSQL, MPAD, in-memory processing, spark, stream processing technologies, and other database and analytic technologies. Value, variety, volume, and velocity are the key characteristics of big data.
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According to the report, the global big data market is driven by continued investments by web giants, enterprises, and government. The growth of data volume, variety, and velocity is also expanding the big data market across the world. Maturation of big data platforms, technology trends lowering the entry barriers, and a rising awareness about the benefits of big data are collectively influencing the global big data market positively.
Market barriers which have been analyzed in the report include the technical challenges faced in terms of scalability and maintenance, lack of analytic specialists, uncertain big data strategies, and organizational resistance to adoption of big data.
Various opportunities and use cases of big data such as automotive, aerospace and transportation, banking and security, preventing injuries on a battlefield, education, healthcare and pharmaceuticals, smart cities and intelligent buildings, insurance, manufacturing and natural resources, web media and entertainment, public safety and homeland security, retail and hospitality, utilities and energy, and telecommunications are studied in the report.
The report comprises a detailed study of the standardization and regulatory initiatives pertaining to big data. It sketches the big data industry roadmap and value chain with great accuracy. Figures, graphics and charts have been used wherever desired to make the report comprehensive.
Some of the key companies studied in the report are: Accenture, Capgemini, Dell, Deloitte, Facebook, Google, HP, IBM, Intel, Microsoft, Panorama Software, Oracle, SAP, TCS, Wipro, Zoomdata, and Teradata.
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