A broader interpretation for large or complicated data sets, that cannot be processed by traditional applications is termed as big data. Challenges associated with the capturing, analysis, curation, transfer, data privacy and more can be easily tackled by big data.
The tool not only help enterprises in initiating dialogues with their customers but also aids in re-developing products. Furthermore, predictive analytics backed by big data plays a vital role in performing risk analysis.
Keeping critical information safe, developing fresh revenue streams and low maintenance cost are some of the many benefits offered by big data.
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The big data market is further influenced by many drivers, restraints and opportunities.
Proliferation of several real time information from sources including but not limiting to social media, mobile devices, log files. has played a vital role in the growth of the big data market.
However, challenges associated with privacy has hampered the growth of the big data market to a greater extent. On the other hand, demand across different business vertical and investment made by prominent market players in research and development would create greater opportunities.
The big data market is further segmented based on key components such as solution, deployment model, end-customers, industries and geography. The solutions covered in the market research report consists of DaaS, HDaaS and more.
Deployment model assessed during the study includes hybrid, public and private. End customers discussed in the report are small and medium sized enterprises and large enterprises.
Industries served by the big data market are manufacturing, healthcare, BFSI and many others. Regions experiencing tremendous growth include North America, Europe, Asia -Pacific and LAMEA.
A closer look at the competitive landscape reveals that major IT brands are busy launching big data as a service market solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge.
Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations. Prominent brands active in the market are Arcadia Data, Cazena, DataHero, Data Torrent, Enigma and many others.
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KEY BENEFITS FOR STAKEHOLDERS
- The market research report provides an integrated information on the major drivers, restraints and opportunities influencing the industry growth during the forecast period.
- The study further drills down to produce data volume by components, end customers and demography.
- SWOT analysis of major brands, highlights weaknesses, strengths, opportunities and threats. The data proves effective for business owners planning on designing their marketing and branding strategies.
- Region wise business performance discussed in the market research report would be valuable for enterprises planning to explore new areas.
- The report not only examines the market dynamics but also takes a closer look at the growth rate and industrial chain structure.
- Study further weigh up on the prominent market players and what they are doing different to position their product in the already crowded marketplace.
- Assessment of upstream and downstream market also forms an important part of the report.
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