The global big data market is mainly driven, by increasing market of consumer, and machine data. The increasing detail and volume of information captured by enterprises, the upsurge of multimedia, social media, and the internet of things, is expected to fuel the growth of the big data market, in the near future. Some of the other drivers fuelling the growth of the big data market, are new applications leveraging big data, and demand of unified platforms.
The global big data market can be segmented on the basis of types, services, and end users. On the basis of types, the global big data market can be categorized into software, hardware, and services. The software segment can be further segmented, into discovery and visualization tools, databases, hadoop distribution tools and products, system software, and others. The hardware segment can be further divided, into storage, servers, and network equipment. The services can be further categorized, as consulting services, integration & deployment services, training and outsourcing services.
On the basis of big data service, the global market can be categorized into hadoop-as-a-service (HAAS), data-as-a-service, analytics and visualization-as-a-service, and others. By end users, the global big-data market can be categorized, into manufacturing, web, healthcare, telecommunications, energy and natural resources (oil and gas), enterprises, transportation, logistics and distribution, gaming, university, research and education, bioinformatics, government and public utilities, media & entertainment, consumer and retail, banking, financial services, and insurance (BFSI).
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Demand of advanced analytics and data warehousing, among big data applications and big data security intelligence, are some of the opportunities, for the growth of the global big data market, during the forecast period.
However, lack of security measures, agreement for big data governance, and lack of skilled personnel, to convert machine learning to operational workflows are some of the restraints associated with the global big data market. The major limitation in this market is the lack of skilled personnel. There are large number of data scientists and IT staffs that are aware of the potential of big data; however they are unable to implement them effectively, due to the lack of expertise in this domain.
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Accenture, International Business Machines Corp., Cisco Systems Inc, Cloudera Inc., Dell, EMC Corporation, Amazon Web Services Inc., Oracle Corp, HP, Microsoft, Hitachi Data Systems Corporation, are the major competitors in the global big data market. Companies providing software and hardware IT solutions are looking forward to gain a better competitive advantage in this rising market, thereby creating refined analytical solutions, and data management platforms for the enterprises.
