Big Data originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.
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Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors.
Healthcare & Pharmaceutical Industry
Estimates suggest that Big Data investments in the healthcare and pharmaceutical industry will account for nearly $4 Billion in 2017 alone. Led by a plethora of business opportunities for healthcare providers, insurers, payers, government agencies, pharmaceutical companies and other stakeholders, these investments are further expected to grow at a CAGR of more than 15% over the next three years.
Big Data in the Healthcare & Pharmaceutical Industry: 2017 – 2030 – Opportunities, Challenges, Strategies & Forecasts
Big Data in the Automotive Industry: 2017 – 2030 – Opportunities, Challenges, Strategies & Forecasts
Big Data investments in the automotive industry will account for over $2.8 Billion in 2017 alone.
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Big Data Opportunities and Challenges
Despite challenges relating to privacy concerns and organizational resistance, Big Data investments continue to gain momentum throughout the globe. The author estimates that Big Data investments will account for over $57 Billion in 2017 alone.
These investments are further expected to grow at a CAGR of approximately 10% over the next three years.
The Big Data Market: 2017 - 2030 - Opportunities, Challenges, Strategies, Industry Verticals and Forecasts
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