The global big data as a service market size is expected to reach at USD 51.9 Billion, expanding at a CAGR of 38.7% by 2025. Rise in the number of virtual devices and demand for analytics is likely to encourage a significant market growth in the forthcoming years. Rise in internet penetration due to its advantages and availability of abundant information is anticipated in a significant market growth throughout the forecast period.
Change in consumer preference, and growth in consumer purchasing power is likely to encourage a significant market growth in the forthcoming period. Growing demand for data analytics in the consumer space is trending and it is highly possible that it can bring a paradigm shift in retail sector. Many players in the retail sector are procuring software services to maintain their virtual services to result in a high rate for consumer retention.
By adopting big data as a service and analytics, several players have optimistically reduced operational costs and have empowered the use of digital data in their respective domain.
Big Data Market Report Highlights:
The network equipment segment is expected to witness a healthy growth at a CAGR exceeding 20% over the forecast period, owing to the reinforcement of new network infrastructures in order to offer enhanced security.
The visualization segment emerged as the fastest growing software segment over the forecast period, which is ascribed to the elevating demand for visuals to represent the analyzed data and convey exact interpretation to consumers.
Media & entertainment and gaming captured a sizeable share exceeding 5% of the overall revenue, which is attributed to the growing number of companies seeking to escalate the value of their assets by integrating creativity with technological breakthroughs.
North America accounted for a sizeable revenue share in the past few years, which is attributed to the high penetration, primarily, across the IT & telecommunication, BFSI, and retail sectors.
Notable industry players, such as IBM, HP, Cloudera, and Oracle, are gradually investing in R&D, for developing unified big data solutions that offer increased capabilities. These players rely on developing innovation-led solutions to increase productivity and reduce cost in an attempt to attract new customers.
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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
Big Data Regional Outlook (Revenue, USD Million; 2014－2025)
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
The Middle East & Africa
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