FDI Perspective of Big Data Technology (2015-2020)
Investment in big data technologies continues to expand, and this trend is to continue as more than 70% of the organizations around the world have either already invested or are planning to invest in the technology in the next few years. 2013, which was considered to be the year of experimentation and early deployment of the technology, had only 31% adoption; in 2015, the technology has grown to $ XX billion at a CAGR of XX % and is estimated to touch $ XX Billion by the end of the decade. Though the technology had a late and slow start, it has now accelerated due to an explosion of data, both structured and complex. A drastic improvement in algorithm development and machine learning, and the need for customer analytics are making big corporate bodies shift focus towards investing in Analytics. This is purely for making more informed decisions, minimizing operational errors and uncertainties, and efficiently utilizing resources. The change in the market trends indicates the evident shift to business opportunities in digital entrepreneurship, both on the supply and the demand side.
Big Data is defined as a continuous increase in data and the technologies required for collection, storing, managing, manipulating and analysing this ever increasing volume of data. It can be characterized on the basis of its volume, variety, velocity and value. Its role is more dominant in the Marketing unit of an organization, followed by its applicability in Operations, IT and Sales.
The technology has some major constraints such as cultural barriers, organizational and structural barriers, high cost of initial investment, lack of technical expertise, data security concerns and uncertainties in strategies etc.
The market can be segmented on the basis of deployment (On-Premise and Cloud), approach (Hadoop, NoSQL, MPAD and others), verticals (Telecom and IT, Financial Services, Energy and Power, Retail, Tourism, Manufacturing, Engineering and Construction, Aerospace and Defense, Media and Entertainment, Healthcare and others) with sub-verticals, regional market and specific country market based on the rates of adoption.
The technology though widely accepted in North America (more specifically in the U.S) shows maximum growth is the Asia-Pacific (APAC) region with countries such as India, China, France, Brazil, Italy, Mexico, U.K, Russia and Spain indicating maximum adoption and minimum gap in skill and technology in the countries.
Giants in the IT market domain such as IBM, Microsoft, Oracle, SAP, Cisco and SAS have invested heavily in global data centres, developing services and acquiring software companies that specialize in business intelligence tools.
What the report offers
1. Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2. Market analysis for the Big Data Analytics Market, with region specific assessments and competition analysis on a global and regional scale.
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4. Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5. Identification and analysis of the Macro and Micro factors that affect the Big Data Analytics Market on both global and regional scale.
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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