DALLAS--(BUSINESS WIRE)--The report "Big Data Market By Types (Hardware; Software; Services; BDaaS - HaaS; Analytics; Visualization as Service); By Software (Hadoop, Big Data Analytics and Databases, System Software (IMDB, IMC): Worldwide Forecasts & Analysis (2013 - 2018)", segments the global Big Data Market into various sub segments with in-depth analysis and forecasting of revenues. It also identifies drivers & restraints for this market with insights into trends, opportunities and challenges. Report segments the Big Data Market by types or components: hardware, software, services and cloud services; by verticals; by regions: North America (NA), Asia-Pacific (APAC), Middle East & Africa (MEA) and Latin America (LA).
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The major force driving in this market is the constant need among enterprises to upgrade their business processes and enhance performance and efficiency. Also the other forces are continuous rise of unstructured data; demand to provide advanced & predictive analytics. Companies providing hardware and software IT solutions are looking forward to gain a better competitive advantage in this growing market, thereby creating sophisticated analytical solutions and data management platforms for the enterprises.
The Global Big Data Market is estimated to be $14.87 billion in 2018 and expected to grow to $46.34 billion. This represents an estimated Compounded Annual Growth Rate (CAGR) of 25.52% from 2013 to 2018. In the current scenario, the services segment continues to be the largest segment, in terms of consulting and integration & deployment services. The software segment is expected to grow at an estimated Compounded Annual Growth Rate (CAGR) of 28.7%. In terms of Regions, North America is expected to be the biggest market on the basis of revenue and adoption of big data technology & solutions. MarketsandMarkets further expects that the increasing Big Data market in the developing economies will further enhance the growth of overall market.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.