Big Data Software Market In-Depth Analysis & Global Forecast to 2023
Added: (Wed Feb 07 2018)
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Big Data Software Market Research report– By Component (Software, Service), by Deployment (Cloud, On-premise), End-User (BFSI, Government & Defense, Manufacturing, Retail, healthcare & life sciences, media & entertainment) – Global Forecast till 2023
Big data software are mainly adopted by enterprises to manage large amount of data generated on regular basis. The software is designed mainly to handle large and complex data sets.
Technology giants such as IBM (U.S.), Oracle (U.S.), Microsoft (U.S.), HPE (U.S.), SAP (Germany), Amazon Web Services (US), SAS Institute (U.S.), and Dell Technologies (U.S.) are some of the major market players in big data software market. IBM (U.S.), one of the prominent player, has designed a big data platform that blends traditional technologies suited for structured, complementary to new technologies that address speed and flexibility such as advanced analytics and are ideal for data exploration, discovery and unstructured analysis.
Major factors driving the Big Data Software Market is the large volume of data generated by the enterprises. Enterprises have deployed big data solutions to analyze and manage the data generated and assist in quick decision making process. Moreover, the increase in number of mobile devices and application and the organizations shift from analog to digital technologies are significant factors driving the market growth.
Managed service accounts for a considerable share in big data analytics market. The operative distinction that sets apart a managed service program is the proactive delivery of their service, as compared to reactive IT services, which have been around for decades. The key drivers contributing to the growth of the managed services are, rise in digital information, the need to secure it, increasing trend of “Bring Your Own Devices”, flexibility to match custom requirements, continuous upsurge in dependency over heterogeneous networks, and persistent rise in the complexity of technological solutions.
The on-cloud accounts for the highest market share as it helps enterprises by low cost associated with the IT infrastructure. The cloud deployment enables enterprises to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.
The global big data software market is expected to grow at a CAGR of approximately 13% during the forecast period 2017-2023.
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Some of the prominent players in the global big data software market: IBM (U.S.), Oracle (U.S.), Microsoft (U.S.), HPE (U.S.), SAP (Germany), Amazon Web Services (US), SAS Institute (U.S.), Dell Technologies (U.S.), Teradata (US), Splunk (U.S.), Palantir Technologies (U.S.), Cloudera (U.S.), Hitachi (Japan), Guavus (U.S.), 10data (U.S.) and others.
The global big data software market is segmented by component, deployment and end-user. Based on the component segment, the market is bifurcated into software and services. Based on deployment, the market is segmented into cloud and on-premise. And the end-user segment, is bifurcated into BFSI, government and defense, healthcare and life sciences, manufacturing, retail, media and entertainment, energy and utility, transportation, it and telecommunication and others.
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The North America region holds the largest market share of the market across the globe followed by Europe, and Asia Pacific regions. U.S. and Canada are dominating the North America market is due to rising technological enhancements and presence of major players. Asia Pacific region is expected to grow with highest CAGR. This is mainly due to the growing manufacturing units in this region. Moreover, the growing data centers in developing countries such as India and China, and the amount of data being generated have increased tremendously. Hence, organizations are looking for big data solutions to perform advanced analytics.
• Technology Investors
• Research/Consultancy firms
• Technology Solution Providers
• Network and systems integrators
• Independent software vendors
• Value-Added Resellers (VARs) and distributors
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