Big Data Market Is Likely To Reach At USD 123.2 Billion By 2025: Grand View Research, Inc.

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The global big data market is expected to reach USD 123.2 billion by 2025, according to a report by Grand View Research, Inc. The amount of data flowing across organizations has witnessed enormous growth over the last few years and the trend continues.

According to a report by Grand View Research, Inc., the global big data market is anticipated to reach at USD 123.2 billion by 2025. Growing need for data management across organizations can fuel the demand for big data solutions as they help manage huge amounts of data efficiently. Growing number of internet users across the globe due to advantages like easy sharing, unlimited communication, and abundant information can create large volumes of data. Thus, organizations are increasingly using big data solutions for proper management of such data. Increasing number of virtual offices coupled with rising adoption of social media can also fuel market growth during the forecast period (from 2018 to 2025).

Moreover, growing usage of mobile phones is anticipate to have a positive impact on the market development. Growing requirement for managing and monitoring huge data obtained from web clicks to satellite data is also likely to foster market growth in the next few years. On the other hand, lack of experienced professionals, such as data scientists and data analysts, can hamper market expansion in the coming years. The global big data market is segregated on the basis of hardware, software, service, end-use, and region. Based on hardware, the market can be categorized into server, storage, and network equipment.

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U.S. big data market by service, 2014 – 2025 (USD Million)

U.S. big data market by service, 2014 - 2025 (USD Million)

Based on software, the market can be classified into database, distribution tools, analytics, visualization, and others. Visualization segment is projected to expand at the fastest CAGR of over 15% from 2018 to 2025 due to growing consumer demand for data access as and when required. The analytics segment is estimated to witness high growth during the forecast period owing to rising adoption of big data analytics among various small- and large-scale enterprises. Moreover, high demand for advanced data analysis to make better business decisions based on facts is augmenting the market growth in the analytics segment.

Based on service, the market can be divided into deployment and maintenance, consulting, and training and development. Training and development segment is projected to witness a rapid growth during the forecast period. Rising need for effective training due to high investments in analytics tools and staff and expertise for improved business decisions can fuel segment demand. Advanced tools can support organizations to analyze and correctly structure data and make better decisions. Based on end-use, the market can be segmented into media and entertainment, telecommunication, BFSI, retail, gaming, manufacturing, healthcare, government, and others.

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China big data market share by software, 2015 (USD Million)

 China big data market share by software, 2015 (USD Million)

BFSI, retail, and telecommunication segments are the major consumers of big data solutions. Relationship management, predictive analytics, and brand reputation are the emerging application areas. Organizations are investing in big data solutions for data traffic management and to optimize operational efficiency. Increasing volume of structured and unstructured data in these sectors can drive the demand for big data technology. The gaming and media and entertainment segments are also expected to witness steady expansion. The growth is attributed to the rising number of companies trying to enhance the value of their assets by integrating creativity with advanced technology.

Regional segmentation includes Europe, North America, Latin America, Asia Pacific, and MEA. In 2015, North America led the market and accounted for more than 30% of the overall revenue share. Increasing use of big data technology in the regional retail and healthcare sector can drive North America market.

Europe is projected to witness significant growth during the forecast period attributed to supportive government initiatives. Local governments are promoting the usage of big data solutions in organizations to enhance operational efficiency. In Asia Pacific, the market is anticipated to expand at a CAGR of over 17% during the forecast period.

Some of the leading companies in the global big data market are Cloudera, Inc.; Hewlett-Packard Company; International Business Machines (IBM) Corporation; and Oracle Corporation. Most of these companies have undertaken business strategies like M&A to expand their product portfolio and maintain competitive edge over others. They are also investing in R&D to design advanced big data solutions at affordable costs.

Grand View Research has segmented the big data market based on hardware, software, service, end-use, and region:

Big Data Hardware Outlook (Revenue, USD Million; 2014 – 2025)

  • Storage

  • Server

  • Network Equipment

Big Data Software Outlook (Revenue, USD Million; 2014 – 2025)

  • Analytics

  • Database

  • Visualization

  • Distribution Tools

  • Others

Big Data Service Outlook (Revenue, USD Million; 2014 – 2025)

  • Consulting

  • Deployment & Maintenance

  • Training & Development

Big Data End-Use Outlook (Revenue, USD Million; 2014 – 2025)

  • BFSI

  • Manufacturing

  • Retail

  • Media & Entertainment

  • Gaming

  • Healthcare

  • Telecommunication

  • Government

  • Others

Big Data Regional Outlook (Revenue, USD Million; 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • The Middle East & Africa

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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com/

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