The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions.
Big data market 2020 is anticipated to witness constant developments. Big data refers to massive sets of information that can be analyzed, utilizing algorithms and computational patterns to map foreseeable trends. It has developed applications across different industry domains to enhance the process of effective decision making. The assessment provided by Market Research Future (MRFR), the global big data market is presumed to strike 13.35% CAGR across the evaluation period 2018 to 2023. It also suggests that the revenue earned by the market by the end of the forecast period is likely to reach USD 81,500 Mn.
Big data is market is projected to benefit from the development of advanced analytical tools in the upcoming years. It is poised to increase the adoption of the service over the next couple of years. In addition to large enterprises, the small and medium enterprises are also exhibiting higher adoption of the technology. It is anticipated to drive the growth of the big data market in the coming years.
The big data market size is assessed to expand in the coming years. The massive amount of data generated every day by enterprises requires the application of big data solutions to make the best out of it. In this scenario, the development of advanced algorithms and tools are expected to influence the big data market positively in the coming years. This report also suggests that the expansion of the digital marketing industry is projected to impact the market’s growth pattern favorably in the near future. Increasing reliance on content marketing strategies and personalized campaigns are supposed to accelerate revenue generation in the big data market.
By component, the big data market has been segmented into hardware (server, network equipment, and storage), software (data discovery and visualization, data management, analytics, and Hadoop distribution products and tools) and service (Hadoop as a service, analytics as a service, deployment and integration service, data as a service, and consulting services).
By technology, the big data market has been segmented into Predictive Analytics, Hadoop, Natural Language Processing, Machines Learning & Data Mining, Stream Processing, NoSQL, and MPAD.
By organization size, the big data market has been divided into large enterprise and SMEs.
By deployment, the segments of the big data market are on premise and on-cloud.
By end-user, the big data market has been segmented into BFSI, IT, government, manufacturing, telecommunications, healthcare, energy & utilities, transportation, retail and others.
The geographical analysis of the global big data market has been included in this MRFR report that presents assessment of the following regions – North America, Europe, Asia Pacific, and the Rest of the World (RoW). These regional segments are sub-segmented on the basis of country-level markets for further study. North America led the market in 2017 with a valuation of USD 17,435.7 Mn. It is assessed to mark a CAGR of 12.4% across the evaluation period. The U.S. and Canada are supposed to invest in the development of the technology, thus, supporting expansion of the market in the region. Presence of key vendors such as Oracle, IBM, etc. is another major driver of the big data market in the region. It is projected to pave the way for the augmentation of the market in the forthcoming years.
Cisco Systems Inc., Microsoft Corporation, IBM Corporation, Dell Technologies, Oracle Corporation, Cloudera Inc., Amazon Web Services, Hitachi Ltd., SAP SE, Teradata Corporation, Accenture PLC, Fair Isaac Corporation, Tableau Software, Hewlett Packard Enterprise Company, and Splunk Inc are few of the key players of the global big data market.
More Information : https://www.marketresearchfuture.com/reports/big-data-software-market-4974
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