The
report estimates that the global big data market, that was expected
to have a value worth $6.3 billion in 2012, will reach a value worth
$48.3 billion by 2018 by observing year on year growth at a CAGR of
40.5% during the defined forecast of the report, i.e. between 2012
and 2018.
Browse the full
report at Big Data Market
http://www.transparencymarketresearch.com/big-data-market.html
In
terms of revenue, the current leader of this market is the region of
North America, which, according to the report, will maintain its
leading rank and amass share worth about 54.5% of the global big data
market during the forecast period. It could be followed by Europe.
In
the current world, technology drives businesses and internet solves
every underlying problem in a business. No job can be deemed complete
in this world without the use of computers and internet. But the
widespread use of these technologies across every possible business
also leads to an enormous amount of data – data that cannot suffice
or can be managed by the traditional databases we are used to see
around us.
Such
huge amount of data is called big data and is generated by various
industrial segments such as banking, finance, medicines, retail,
education, entertainment, among others. Storage, retrieval, analysis
and management of such data require specialized tools and software
applications, not generally provided by conventional databases
management systems. Thus, various tools and technologies for managing
such enormous amount of data have been developed.
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The
market of big data is formed by software products and services,
storage devices and peripheral hardware. Amongst these, the segment
of software products and services held the biggest share of the
global big data market and accounted for nearly 50% of the market
shares in 2012.
However,
the segment of storage devices is estimated to be the fastest growing
segment of this market during the forecast period and could observe
growth at a CAGR of 45.3% during this period. The impending growth of
this market can be attributed to enormous data being flooded from
different market segments and which will continue to rise in the
future as well.
The
finance sector is also a big contributor to this market and accounted
for nearly a 20% share of this market in 2012. Financial institutes
and banks benefit enormously from large customer databases. Such
databases allow them to take calculated and more strategic decisions.
Browse
Press Release Big Data Market
http://www.transparencymarketresearch.com/pressrelease/big-data-market.htm
The
segment of media and entertainment, though small currently, is
expected to grow at a CAGR of 41.4% from 2012 to 2018. This will
primarily happen due to huge data generated thorough games, audio,
videos, etc.
The
segment of Healthcare also presents an important and large
application area of the big data industry. Big data can enormously
help this segment by providing accurate and efficient data.
Factors
such as the exponential growth in the ways through which different
forms of data can be collected and the cost benefits derived from the
use of big data are driving the growth of this industry. However
factors such as lack of skilled professionals and an efficient use of
data tools could hinder the growth of this market.
Browse all
Technology & Media Market Research Reports@
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About Us
Transparency Market
Research is a global market intelligence company, providing global
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who use proprietary data sources and various tools and techniques to
gather, and analyze information.
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is continuously updated and revised by a team of research experts, so
that it always reflects the latest trends and information. With a
broad research and analysis capability, Transparency Market Research
employs rigorous primary and secondary research techniques in
developing distinctive data sets and research material for business
reports.
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