Rapid adoption of digitalization is likely to propel growth in the global Big Data Market. According to a study by Fortune Business Insights, titled “Big Data Market Size, Share and Global Trend by Component (Hardware, Storage, Software and Services), Product (DBMS, Hadoop, SQL), Industry Vertical and Geography Forecast till 2025” North America offers lucrative growth opportunities. North America held a significant share in the global market in 2017. The growth witnessed is attributable to high adoption of digitalization in nations such as Canada and U.S. The U.S. is witnessing implementation of big data technology across its major industries, this is expected to enable growth in the global big data market. The International Data Corporation has reported that the U.S. is making huge investments in the big data technology. This will help the North America market to gain a higher share in the global big data market.
The big data market in Asia pacific is anticipated to grow at a relatively higher CAGR. China and Japan are currently witnessing rising investments in big data technology from governments and key market players. This has enabled China and Japan to hold a strong position in the Asia Pacific big data market. For instance, In China the Chinese government implemented big data technology across the nation in 2017. This is expected to propel growth in the global big data market.
“Key market players to expected to emphasize on the integration of internet of things and Artificial Intelligence in big data. This is anticipated to fuel the demand in the global big data market,” said a lead analyst at Fortune Business Insights.
Rapid Adoption of Smart Phones to Fuel Demand
Some of the factors expected to drive the global big data market during the forecast period 2018-2025 are increasing number of e-commerce companies and rapid adoption of smart devices such as phones, TV, and others. Additionally, increasing investments in the robotic automation is anticipated to increase the growth rate in the global big data market.
Lower data storage cost and expansion of Blockchain technology are a few factors anticipated to fuel the demand for bid data services and solutions.
Besides this, as per the Technology.org, the global infrastructure-as-a-service market is anticipated to expand at a CAGR of 29% and reach US$ 56.5 Bn by the end of 2020. The global infrastructure as-a-service market is playing a significant role in the growth of the global big data market. The global infrastructure as-a-service market is generating high demand for big data technology, and is further expected to enable growth in the global big data market.
On the flip side, high cost associated with big data technology and lack of skilled professional are a few factors that may restrain the global big data market during the forecast period 2018-2025.
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Analysis by Top Key Players:
- IBM Corporation
- Google LLC
- Microsoft Corporation
- Cisco Systems Inc.
- Apple Inc.
- Red Hat Inc.
- SAS Institute
- Oracle Corporation
- Amazon Inc.
- Facebook Inc.
- Dell Technologies
- Siemens solution
- Hortonworks Inc.
- Cloudera Inc.
IBM Acquired Red Hat to Strengthen its Market Position
The competition among the global big data market players is very high. Key players are focusing on partnering and acquiring other companies to gain higher share in the global big data market. For instance, in 2018 IBM Corp. acquired Red Hat Inc. to strengthen IBM’s market position and leverage social media data for analysis. Some of the companies operating in the global big data market are Google LLC, Microsoft Corporation, Cisco Systems Inc., Apple Inc., Red Hat Inc., SAS Institute, Oracle Corporation, Amazon Inc., Facebook Inc., Dell Technologies, Siemens solution, Hortonworks Inc., and Cloudera Inc.
Major Table of Content for Big Data Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Big Data Market Analysis, Insights and Forecast, 2014-2025
- North America Big Data Market Analysis, Insights and Forecast, 2014-2025
- Europe Big Data Market Analysis, Insights and Forecast, 2014-2025
- Asia Pacific Big Data Market Analysis, Insights and Forecast, 2014-2025
- Middle East and Africa Big Data Market Analysis, Insights and Forecast, 2014-2025
- Latin America Big Data Market Analysis, Insights and Forecast, 2014-2025
- Competitive Landscape
- Company Profile