Big Data Technology and Services Market Value Projected to Expand by 2017 to 2026
This report provides prognosis and analysis of the big data technology and services market. It offers historical data along with forecast data for 2026.
[USPRwire, Tue Apr 16 2019] FactMR has actively published a new research study titled “Big Data Technology and Services Market Value Projected to Expand by 2017 to 2026 | Key Players are Microsoft Corporation, HP, SAP SE, Amazon Web services, etc.” to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the big data technology and services market during 2017-2026. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global big data technology and services market is expected to showcase impressive growth at XX% CAGR during the period until 2028.
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Ongoing advancements in technology is contributing towards the redefine the strategies and progress in the fast-moving business environment. As the leading companies are focusing on converting significant challenges into opportunities, dealing with technological hurdles continues to remain a major roadblock. In order to maintain a progressive pattern, leading business organizations are incorporating cutting edge technologies such as robotic process automation, artificial intelligence, big data and cognitive computing. Leading organizations are accommodating the leading technological solutions in their integral data and analysis processes to solve complex business challenges and regain trust of their clients.
Business organizations are constantly looking for solutions for managing vast amount of data that increases the business value. Incorporating of leading technological solutions such as big data technology and services enables the business organizations to identify vulnerable and sensitive data, which further helps in disclosing data patterns and correlations for better decision making process. As advanced technological solutions allow events forecasting and real-time monitoring arises, leading business organizations are looking to capitalize on these opportunities to leverage a competitive advantage over the other market players. As formulating effective strategies for business development has continued to remain a major challenge, leading organizations are incorporating advanced technological solutions to outline improved decision making process.
Unstructured data accumulation from abundant sources in the supply chain operations can obstruct the decision making process. As managing data flooding from various channels continues to pose significant challenges, supply chain managers are focusing on opting for leading technological solutions that enable segregating the overflow of data in an organized format. Incorporation of leading technological solutions further harness the potential of data analysis has led the supply chain managers to opt adopt big data solutions. Through implementation of the big data sources, the supply chain managers can optimize the cost and improve the efficiency and agility of the process. As overflow of information can offer enhanced and effective decision making process and solutions, adoption of the big data technology and services continues to remain high in the global market.
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However, implementation of big data technology leads to modifying the entire approach and analysis patters. Modification in the entire approach further leads to additional investments and expenses. Moreover, various tools offered for management and analysis of data are unable to handle real-time analysis. These factors are expected to impact growth of the global big data technology and services market negatively during the forecast period.
As the need for gathering and analyzing valuable business information and insights arises, demand for big data analytics software continues to remain high. On the basis of category type, the software segment is expected to represent the highest revenue growth, accounting for a value of over US$ 22,100 Mn by the end of 2026. In addition, the software category type segment is expected to register a significant CAGR throughout the forecast period. Based on industry, the BFSI segment is expected to witness a significant revenue growth, recording a value of over US$ 1,400 Mn by the end of 2017. On the other hand, the retail & consumer goods industry segment is expected to register a healthy CAGR through 2026.
By application, the analytics and discovery segment is expected to generate significant revenues, accounting for a value of over US$ 12,100 Mn by the end of 2026. In contrary, the datacenter networking infrastructure application segment is expected to register a robust CAGR during the forecast period.
Leading market players operating in the global big data technology and services market include IBM, Oracle Corporation, Microsoft Corporation, HP, SAP SE, Amazon Web services, Dell Incorporation (EMC), Teradata, Cisco Corporation and SAS Institute.
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