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The Report Studies Major Growth Strategies Adopted by the Leading Players to Stay Competitive in the Big Data Market
Big data refers to the data described by four V’s - volume, Variety, Velocity and Veracity. It is the huge amount of structured, semi-structured, or unstructured data sets. Big data market comprises software and services for data organization, data management, data analytics, data discovery, and visualization. Various organizations are deploying the big data solutions to get actionable insights in order to make decision making easier. The massive growth of big data and the increase in number of mobile apps and devices are few of the contributors of the growth of the big data market. The global big data market is projected to reach USD 66.79 Billion by 2021 at a Compound Annual Growth Rate (CAGR) of 18.45 % during the forecast period (2016–2021).
The growing amount of data being generated across various verticals is considered to be one of the key drivers for the growth of the big data market. IBM, Oracle, Microsoft, SAP SE, HPE, SAS Institute, Amazon Web Services, Dell Inc., Teradata Corporation, and Splunk are some of the various major players offering big data solutions and services. These players are innovating in this market and have adopted various strategies to expand their global presence and increase their market shares.
The report studies major growth strategies adopted by the leading players to stay competitive in the market. IBM, one of the key players offering big data solutions, strategically acquired Truven Health Analytics to enhance its Watson health’s capability in big data. Additionally, Microsoft acquired Metanautix, a startup founded by Google and Facebook engineers to help more people crunch big data. Microsoft incorporated Metanautix’s technology into its overall data platform to give enterprise customers a unified view of all of their data across cloud and on-premises systems. Similarly, the companies also adopted various other strategies such as new product launches, collaborations, agreements, strategic alliances, expansions, and developments.
The report provides comprehensive insights on big data market size, trends, driving forces, restraints, opportunities, and challenges related to the market that helps in understanding and assessing the market potential and future outlook for this market. The report also provides a competitive landscape and market analysis for the next five years, which includes various top players and the strategies these players adopted.
Big Data Market by Component (Software and Services), Type (Structured, Semi-Structured and Unstructured), Deployment Model, Vertical, and Region (North America, Europe, Asia-Pacific, Latin America & Middle East and Africa) - Global Forecast to 2021
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