Big Data Market Is Predict To Reach $123.2 Billion By 2025 | Industry players IBM, HP, Cloudera, and Oracle, etc.

Big Data Market Is Predict To Reach $123.2 Billion By 2025 | Industry players IBM, HP, Cloudera, and Oracle, etc.

Grand View Research, Inc. – Market Research And Consulting
Big Data Market: Increasing data volume to drive growth, Evolving customer preference paired with rise in consumer purchasing power primarily in the developing countries is resulting in mounting adoption of smart devices. Additionally, mounting demand for mobile devices and apps has further paved the way for big data significantly for the next few years

The proliferation of portable smart devices and the increasing social media penetration have significantly resulted in the generation of large chunks of data over the recent past and the trend is expected to continue in the near future. The rapid growth in unstructured data has instigated companies to adopt big data solutions in order to collate information from social media, regulatory authorities’ databases, and vendors’ networks and derive considerable insights to attract new customers and retain the existing ones.

The industry is anticipated to witness increased adoption of big data analytics to remain competitive and sets the tone for the beginning of a new trend. Additionally, a spurt in visual data discovery tools is expected over the next few years on account of the growing demand for graphs and visual aids to represent the analyzed data for better data interpretation.

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U.S. big data market by service, 2014 – 2025 (USD Million)

U.S. big data market by service, 2014 - 2025 (USD Million)

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Increased spending on cloud-based and analytics solutions attributing to several benefits including cost effectiveness, enhanced efficiency, and reliable business decisions is also anticipated to significantly propel the big data market growth over the forecast period. In addition, the industry is also poised for substantial growth over the coming years ascribed to the escalating demand for a unified data platform architecture that can capture data from multiple sources, store it, and provide an array of out-of-the-box analytics options.

The emergence of Internet of Things (IoT) presents myriad new challenges and opportunities in the areas of safety, data governance, health, standards, and security. Vendors are increasingly implementing effective big data solutions to overcome these challenges. The industry is also witnessing an increasing number of new application areas adopting big data solutions to handle and manage mounting data volumes and storage facilities.

Analyst Perspective

The big data market is driven by the huge growth and availability of unstructured and structured data. Organizations actively seek methods and ways to manage these data volumes and storage facilities, which instigates them to adopt big data solutions. Implementation of big data platforms enables companies to effectively and efficiently capture data, process and analyze it, and provide a clear and complete understanding of the business. This leads to increased sales, efficiency improvements, reduced costs, and better customer service.

With a budding resource of customer data, available from numerous channels, companies take advantage of big data and analytics to efficiently run their businesses. These solutions facilitate companies to detect customer sentiments over services and products of an organization and gain a deeper visual understanding of the multiple channel customer journeys and then act on these insights to enhance customer experience.

The industry is witnessing manifold of challenges pertaining to data breach and security. However, advanced research and technological advancements have significantly overcome these challenges by reinforcing enhanced network security equipment. Further, big data also offers enterprise-wide insights, as it enables the development and installation of dynamic and interactive visualization tools that enable business users to analyze, view, and benefit from the data.

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China big data market share by software, 2015 (USD Million)

China big data market share by software, 2015 (USD Million)

Grand View Research has segmented the big data market based on hardware, software, service, end-use, and region:

Big Data Hardware Outlook (Revenue, USD Million; 2014 – 2025)

  • Storage

  • Server

  • Network Equipment

Big Data Software Outlook (Revenue, USD Million; 2014 – 2025)

  • Analytics

  • Database

  • Visualization

  • Distribution Tools

  • Others

Big Data Service Outlook (Revenue, USD Million; 2014 – 2025)

  • Consulting

  • Deployment & Maintenance

  • Training & Development

Big Data End-Use Outlook (Revenue, USD Million; 2014 – 2025)

  • BFSI

  • Manufacturing

  • Retail

  • Media & Entertainment

  • Gaming

  • Healthcare

  • Telecommunication

  • Government

  • Others

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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