LONDON, Dec. 1, 2016 /PRNewswire/ -- NOVONOUS estimates that Global Big Data market will grow at a CAGR of 36.67% by 2020. This growth is mainly due to increasing penetration of big data in various sectors, increase in analytics services and availability of affordable big data solution and services to end users.
Organizations worldwide are turning their attention to Big Data as a useful means to derive insights from the huge amount of data generated from various sources. Technologies such as NoSQL databases and MapReduce/Hadoop frameworks are at the core of the solutions heralding a paradigm shift.
This research found that high investment costs, lack of awareness and novelty have been the main threats for new entrants in the Big Data space. There are a few major players who control the entire value chain. However, many smaller players have mushroomed who provide consulting in the Analytics space. This research also found that most organizations misunderstand Big Data and it is important to educate the end users through face to face interactions.
The main growth driver for the Big Data industry is the sheer volume of data that is being generated across various industries due to changing business environment.
The growth inhibitors for the Big Data industry have been the slowdown in the global economy, a decrease in investment in Research & Development, lack of quality resourcing and unemployment.
Key Findings and Market Trends in Global Big Data Market
- Big Data Services segment which includes Big Data consulting, Big Data Analytics etc currently controls the largest market share in Global Big Data market. As per NOVONOUS estimates, Global Big Data Services market is expected to grow at a CAGR of 25.65% till 2020.
- Big Data Software segment controls the second largest market share in Global Big Data market. As per NOVONOUS estimates, Global Big Data Software market is expected to grow at a CAGR of 38% till 2020 and maintain its market share position even in 2020.
- Big Data Storage segment controls the third largest market share in Global Big Data market. As per NOVONOUS estimates, Global Big Data Storage market is expected to grow at a CAGR of 55.50% till 2020 and become the leader in terms of it's market share position in 2020.
- In terms of industry verticals, Big Data in Financial industry which currently controls the largest market share in terms of revenue in Global Big Data market. As per NOVONOUS estimates, Global Big Data in Financial Industry market is expected to grow at a CAGR of 35% till 2020. It is also estimated that the amount of investment done by the financial industry in big data will be about 0.02% of their total revenue by 2020.
- Big Data in Manufacturing industry which currently controls the second largest market share in terms of revenue in Global Big Data market. As per NOVONOUS estimates, Global Big Data in Manufacturing Industry market is expected to grow at a CAGR of 15% till 2020. It is also estimated that the amount of investment done by the manufacturing industry in big data will be about 0.04% of their total revenue by 2020.
- Big Data in Telecom Industry controls the third largest market share in terms of revenue in Global Big Data market. As per NOVONOUS estimates, Global Big Data in Telecom Industry market is expected to grow at a CAGR of 65% till 2020 and become the leader in terms of it's market share position in 2020. It is also estimated that the amount of investment done by the telecom industry in big data will be about 2.41% of their total revenue by 2020.
- In terms of geographies, North America Big Data Market controls the largest market share in terms of revenue in Global Big Data market. As per NOVONOUS estimates, North America Big Data market is expected to grow at a CAGR of 35.80% till 2020 and maintain it's market leader position even in 2020.
- Europe Big Data Market controls the second largest market share in terms of revenue in Global Big Data market. As per NOVONOUS estimates, Europe Big Data market is expected to grow at a CAGR of 36.50% till 2020 and maintain it's market position even in 2020.
- Asia Pacific Big Data Market controls the third largest market share in terms of revenue in Global Big Data market. As per NOVONOUS estimates, Asia Pacific Big Data market is expected to register second largest growth rate of 43% till 2020 and maintain it's market position even in 2020.
- As per NOVONOUS estimates, Middle East & Africa Big Data market which currently has the smalles market share in terms of revenue in Global Big Data market is expected to register fastest growth rate of 45.30% till 2020 and improved it's market position in 2020.
Spanning over 175 pages and 106 exhibits, "Global Big Data Market 2015-2020" report presents an in-depth assessment of the Global Big Data market from 2015 till 2020.
The report has detailed company profiles including their position in big data market value chain, financial performance analysis, product and service wise business strategy, SWOT analysis and key customer details for 12 key players in Global market namely TEG Analytics, Heckyl Technologies, KloudData Inc., Gramener, Germin8, VIS Networks Pvt. Ltd., Abzooba, Fintellix, Latentview, Indix, Analytic-Edge and Tookitaki.
Scope of Global Big Data Market 2015 - 2020 report:
- This report provides detailed information about Global Big Data market including future forecasts.
- This report identifies the industry wise need for focusing on Big Data market.
- This report provides detailed information on growth forecasts for overall Global Big Data market up to 2020.
- This report provides detailed information on segment wise (servers, storage, networking, software and services) growth forecasts for Global Big Data market up to 2020.
- This report provides detailed information on industry wise (manufacturing, oil & gas, retail, financial, healthcare, education and government & defense) growth forecasts for Global Big Data market up to 2020.
- This report provides detailed information on geography wise (asia pacific, europe, middle east & africa, north america and south america) growth forecasts for Global Big Data market up to 2020.
- The report identifies the growth drivers and inhibitors for Global Big Data market.
- This study also identifies various parts of Big Data value chain.
- This report has detailed profiles 12 key players in Global Big Data market covering their business strategy, financial performance, future forecasts and SWOT analysis.
- This report covers the competitive landscape in Global Big Data market.
- This report has industry wise (manufacturing, oil & gas, retail, financial, healthcare, education and government & defense) case studies for Big Data.
- This report provides Porter's Five Forces analysis for Global Big Data market.
- This report provides industry wise (manufacturing, oil & gas, retail, financial, healthcare, education and government & defense) SWOT (strengths, weakness, opportunities and threats) analysis for Global Big Data market.
- This report also provides strategic recommendations for end users, Big Data service providers and investors.
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