Pune, India — (PRESS RELEASE JET) — 10/26/2017 — Market Synopsis of Big Data Analytics Market
The market for big data analytics is growing at a significant rate and includes many new entrants in the big data analytics market majorly in Customer analytics and content analytics solutions due to higher demand of e – commerce
Big data is generally termed as large and varied sets of data and examining the data for identifying customer trends and preferences, data patterns, relations for the companies to take better business decisions. Companies use advances analytics techniques for large, and diversified data sets, allowing the researchers, analysts and business owners to make decisions based on the data that was previously inaccessible. Big data comprises of software and hardware components and the data set ranges from Megabytes to Terabytes. A many number of companies are investing in the big data analytics, which has led banking and manufacturing industry to invest more in big data analytics majorly due to security and compliance issues. Many other industries other than banking and manufacturing are more inclined towards finding the customer experience information to better use the data for customer retention and customer delight.
The Big Data Analytics Market is segmented on the basis of components, solutions, end users and regions. On the basis of components, the segmentation is further divided into software and hardware which is further divided under reporting and analytics and data warehouse management system on the basis of software component. In this segments, software components lead the market share however the hardware by the component follows the segment with a nominal growth.
On the basis of solutions, the segment is divided under fraud detection, risk management, customer analytics, and content analytics. Most of the telecommunication industry and media industry are intended towards customer analytics and content analytics solutions for customer experience for new customer acquisition, retention and loyalty. The customer analytics is at the center of telecommunication industry for investments in big data analytics.
On the basis of end users, the segmentation is done on the basis of Banking, discrete manufacturing, process manufacturing, government, telecom, insurance, transportation and utilities. Out of these, Banking, discrete manufacturing, process manufacturing are investing highly in the big data analytics with the focus on risk management, fraud prevention and security and compliance issues. Banking, manufacturing and government will account for approximately 50 % of the spending in the data analytics market.
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The market for big data analytics is divided under North America, Asia pacific, Europe and rest of the world under the region. The North America, especially United States is leading and will continue to lead the market for investments in the big data analytics with more than 80% investments from the region. Another reason for the increased market growth in the North American region is due to the concentration of the large big data companies in the U.S. following U.S is the Europe and Asia pacific region in terms of the investments in big data.
The competitive landscape of the big data analytics market is formed by some major players and many of the new entrants. The leaders constantly keep innovating for the new technology and investing in research and development for the cost effective portfolio. The big data analytics market has driven many end users like insurance, banking, media, telecommunication, and government.
The Big Data Analytics Market is expected to reach approximately USD 275 billion by the end of 2023 with approximately 12% CAGR during the forecasted period from 2017 – 2023.
The big data analytics market holds some of the major players like IBM Corporation (U.S.), Teradata Corporation (U.S.), VMware, Inc (U.S.), Tableau Software (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Pentaho (U.S.) Microsoft Corporation (U.S.), Google Inc (U.S.), Hewlett Packard Enterprise (U.S), Datameer (U.S.).
For the purpose of this study, Market Research Future has segmented the market of big data analytics market into type, infrastructure, end – users, and region.
End – User
Rest of the world.
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Storage chipset providers
Network Security providers
Cloud service providers
Wireless service providers
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