Global Big Data Market is Expected to Reach USD 48.3Billion by 2018: Transparency Market Research

     Global Big Data Market is Expected to Reach USD 48.3Billion by 2018:
                         Transparency Market Research

  PR Newswire

  ALBANY, New York, January 21, 2013

ALBANY, New York, January 21, 2013 /PRNewswire/ --

According to a new market report published by Transparency Market Research (
http://www.transparencymarketresearch.com ) " Big Data Market - Global
Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2012-2018 "
the global big data market was worth USD 6.3 billion in 2012 and is expected
to reach USD 48.3 billion by 2018, at a CAGR of 40.5% from 2012 to 2018. North
America is expected to maintain its lead position in terms of revenues till
2018, with about 54.5% share of the global big data market revenue, followed
by Europe.

Browse the full report at
http://www.transparencymarketresearch.com/big-data-market.html 

Generation of huge amounts of data, called big data, across different sectors
such as banking, healthcare, retail and education, among others, is creating
the need for an efficient tool to manage this data. Conventional database
management tools such as Relational Database Management System (RDBMS) do not
have the capability to manage surging volumes of unstructured data. This has
led to the development of various tools and technologies to manage big data.

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The basic components of big data include software and services, hardware, and
storage. Software and services segment held the largest share, accounting for
more than 50% of the total big data market in 2012. The storage segment is
expected to be the fastest growing segment at a CAGR of 45.3% from 2012 to
2018. This can be attributed to the exponential increase in the amount of data
across different sectors. The financial services sector is one of the major
contributors to the big data market, and held nearly 20% of the market in
2012.

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Big data tools are emerging to be of great help to banks and financial
institutes in utilizing the depth of data collected. The media and
entertainment sector, though with a small market share contribution currently;
is expected grow at a CAGR of 41.4% from 2012 to 2018. This growth will
primarily be due to the humungous amount of data generated through games,
images, videos and so on. Healthcare is another large and important segment of
the world economy that has been facing tremendous productivity challenges in
the form of drug failure, drug approval and regulatory barriers. Big data
helps the healthcare market players in managing their data efficiently, making
important corporate decisions and formulating business growth strategies.

The big data market is primarily driven by factors such as exponential growth
in different forms of data collected and cost benefits derived from the use of
big data tools. However, shortage of skilled personnel and efficient use of
big data tools is limiting the growth of this market.

North America accounted for more than 50% of the overall big data market
revenues in 2012. However, the Asia-Pacific region will be the fastest growing
market and will grow at a CAGR of 42.6% from 2012 to 2018. Flourishing
outsourcing industry, distributed manufacturing hubs and lenient regulations
on data sharing are the several factors creating significant opportunities in
the Asia-Pacific region for the big data market.

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The big data market is oligopolistic at large and dominated by a few major
players namely, HP Co., Teradata, Opera Solution, Mu Sigma and Splunk Inc.
These five players accounted for about 60% of the big data market in 2012.

The report on big data market includes market size and forecast from 2011 to
2018 and cross-sectional analysis of various segments such as software and
services, hardware, and storage within different geographies (North America,
Europe, Asia-Pacific and RoW). In addition, the report also provides adoption,
analysis and market size and forecast for various end-use segments namely,
financial services, manufacturing, healthcare, telecommunication, government,
retail and media & entertainment.

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About Us

Transparency Market Research is a global market intelligence company,
providing global business information reports and services. Our exclusive
blend of quantitative forecasting and trends analysis provides forward-looking
insight for thousands of decision makers. We are privileged with highly
experienced team of Analysts, Researchers, and Consultants, who use
proprietary data sources and various tools and techniques to gather, and
analyze information.

Our data repository is continuously updated and revised by a team of research
experts, so that it always reflects the latest trends and information. With a
broad research and analysis capability, Transparency Market Research employs
rigorous primary and secondary research techniques in developing distinctive
data sets and research material for business reports.

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