Global Big Data Market Research & Industry Forecast 2016-2024

According to Goldstein Research, global big data market size is expected to reach USD 200 billion by 2024, growing at a compounded annual growth rate of 22.4% over the forecast period 2016-2024. Continuous generation of abundant volume of data by various sectors are raising the need for analysis of these data and significantly propelling the business prospects for big data analytics. Cloud computing provides cost effective, flexible and secure storage of data. Growing penetration of cloud computing market and trend of migrating organizational application to the cloud are the major driving factor for the growth of big data market.

Global big data market segmentation has been carried out on the basis of the type of data, components, application, end user, and geography. Leading players of the big data industry are investing in the research and development of big data solution to manage and integrate the structured and unstructured data.

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On the basis of our in-depth analysis, Global Big Data Market can be segmented as follows:

Based on Type of Data

• Unstructured Data
• Structured Data

Based on Components

• Hardware
• Software
• Services

Based on Application

• Financial Analytics
• Risk Analytics
• Customer Analytics
• Operational Analytics

Based on End-User

• Banking & Finance
• Government
• Transportation & Logistics
• Aerospace and Defense
• IT & Telecommunication
• Healthcare
• Energy & Utilities
• Manufacturing
• Other Sectors (Education)

By Region

• North America Big Data Market {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
• Europe Big Data Market (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• The Middle East and Africa Big Data Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America Big Data Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• The Asia Pacific Big Data Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

Based on geography, Global big data market is majorly driven by North America, growing at a CAGR of 15.6% during the forecast period. North America big data market is closely followed by Europe big data market which holds the second largest share in the global big data market and it is expected to grow at a CAGR of 19.1 % during the forecast period. Further, Asia Pacific is expected to be the fastest growing market with leading countries in the region is China, Japan, and India.

Based on end-user, big data analytics also show tremendous opportunity in healthcare. The organized collection and examination of genetic data coupled with diseases, therapies, and conclusions has the prospective to radically advance the selection of the best treatments, eluding the harming of patients, and the usage of unsuccessful therapies. According to Goldstein Research, healthcare big data market size is expected to expand at a CAGR of 18.6% over the forecast period and the major growth regions are likely to be the North America and Europe.

Market Drivers & Key Players

Global Big Data Market Outlook 2024 contains a detailed overview of the global big data market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by type of data, components, application and end user.

Further, for the in-depth analysis, global big data industry analysis report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

This market analysis report also includes competitive outlook of some of the major players profiling of companies such as IBM Corporation, Oracle Corporation, Amazon Web Services, Microsoft Corporation, Splunk Incorporated, Intel Corporation, TIBCO Software Inc., NetApp, Inc., Google, Dell Inc., SAP SE, VMware Inc., MicroStrategy, Inc., EMC Corporation,HORTONWORKS, INC., Cloudera, Inc., Karmasphere Inc., Teradata Corporation, HP Enterprise,etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global big data market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Key questions answered in this Global Big Data Market Report

• What is the Global Big Data Market Size by 2024 and what would be the expected growth rate of the industry?
• What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
• What are the big data market trends?
• What are the factors which are driving this industry?
• What are the major barriers to big data industry growth?
• Who are the key vendors in this industry space?
• What are the industry opportunities for the existing and entry-level players?
• What are the recent developments and business strategy of the key players?

With more than 12 years of experience in Market Research Industry, I have scaled up my skills in strategic consulting as well. Currently working as a Director in the Research Department in a well known U.S. based market research & advisory firm.