The exponential growth in the number of connected and smart devices across different organizations, verticals and organizations day to day activities has resulted in the high volume of structured and unstructured data generation. Which has ultimately fostered the adoption of efficient big data solutions and services. As Big Data technologies and solutions offers users' actionable insights which are critical for their businesses, it has experienced a good adoption rate in almost every industry verticals.
Big data solution and services providers offer a great deal to end users in gaining insights which help companies into better decision making and formulating effective business strategies. It also helps companies in determining areas for cost and time reduction, causes of failure, highlighting defects in a real time basis.
Big data is highly impacting the way organizations use to work, it is arming organizations with critical data useful for their businesses and improving operational efficiency. It also helps companies to gain competitive advantage while creating new sources for revenue.
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Major players operating in the global Big Data market are International Business Machines (IBM) Corporation, Hewlett-Packard Enterprise, Amazon Web Services, Microsoft Corporation, SAP SE, Dell Inc., SAS Institute, Teradata Corporation, Splunk, 1010data Inc., Palantir Technologies, Inc., Hitachi Ltd., Cloudera, Inc. ,Opera Solutions , Calpont Corporation , Mu Sigma ., Sisense, CSC Corporation, Wipro Limited and Bodhtree among others.
Increasing numbers of connected devices and growth in data volume from various devices and sources are some of the factors that are driving the adoption of Big Data solutions and Services. Low awareness of the usage of Big Data analytics and high presence of legacy architecture are few of the factors that will hinder the growth of Big Data solutions and services market, however high growth in demands of on cloud Big Data solutions and services are expected to provide high growth opportunities for various Big Data solutions and service providers.
The Big Data market is segmented on the basis of component into solution and services. Further, on the basis of deployment model the global Big Data market is segmented into On-premise and cloud.
The Big Data market is also divided on the basis of industry vertical into Banking, Financial Services and Insurance (BFSI), Retail and Consumer Goods, Media and Entertainment, Healthcare and Life Sciences, Manufacturing and others. The global Big Data market is also bifurcated on the basis of regions into North America, Europe, Asia Pacific, South America and Middle East & Africa.
North America holds one of the largest share in the global Big Data market. High technological adoption trends and high growth of data among different verticals in North American region has particularly boosted the growth of the Big Data market.
Asia Pacific is also one of the most promising market for Big Data due to increasing data growth in the developing economies such as India and China.
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