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Published on : Jun 07, 2017

Albany, New York, June 07, 2017: A thorough overview of the major segments, along with the primary applications and growth prospects have been discussed at length in the scope of the study. As per the research study, the market is likely to register an impressive 24.0% CAGR between 2017 and 2021.

A tremendous rise in the amount of data across the globe is considered as one of the major factors likely to augment the growth of the global big data services market in the next few years. In addition to this, the rise in the number of applications and the increasing awareness among consumers concerning the benefits of using big data services are projected to accelerate the development of the overall market in the near future.

On the basis of end use, the global big data services market has been classified into telecom, retail, and banking, financial services, and insurance. Among the key segments, in 2016, the banking, financial services, and insurance is expected to lead the global big data services market throughout the forecast period. The increasing use of big data analysis in order to generate valuable insights and generate separate models of fund management, trading, and risk control are the important aspects that are predicted to boost the growth of this segment in the next few years.

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According to the research report, the Americas are anticipated to exhibit a high level of growth throughout the forecast period. A large share of the global market is expected to be accounted by the Americas, thanks to the significant rise in the data generation across diverse industrial verticals. This growth can be attributed to the rise in digital transformation, including digitalization of workplace and easy access through applications in mobile. A healthy growth of the big data services market is expected to be witnessed by emerging economies over the next few years. 

Some of the leading players operating in the big data services market across the globe are Microsoft, Atos, Predixion Software, Attivio, IBM, Doopex, Mu Sigma, Hewlett-Packard (HP), MongoDB, Continuum Analytics, ClearStory Data, MarkLogic, Accenture, Datameer, Deloitte, Dell, Cirro, and DataStax. At present, the market is highly competitive and fragmented in nature and is projected to experience an intense competition throughout the forecast period. These players are emphasizing on the development of new products in order to create a niche and accelerate the growth of the overall market in the near future.

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