About Big Data Services
Big data services refer to services that include big data business consulting, big data outsourcing, big data project-based services, and support and training services related to big data implementations. Big data ranges from terabytes (10¹² bytes) to petabytes (10¹⁵ bytes) and even exabytes (10¹⁸ bytes), and it includes information collected from sources such mobile devices, digital repositories, and enterprise applications. Big data services provide a wide range of purposes such as fraud management in the banking, financial services, and insurance (BFSI) sector, disease diagnosis in the healthcare sector and customer conversation analysis in social networking websites.
Technavio’s analysts forecast the global big data services market to grow at a CAGR of 24.20% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global big data services market for 2017-2021. To calculate the market size, the report considers the new value and aftermarket and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Big Data Services Market 2017-2021
Technavio recognizes the following companies as the key players in the global big data services market: Accenture, Deloitte, Hewlett-Packard (HP), IBM, PricewaterhouseCoopers (PwC), SAP, and Teradata.
Other Prominent Vendors in the market are: Alteryx, Atos, Attivio, Chartio, Cirro, ClearStory Data, Cloudera, Continuum Analytics, Datameer, DataStax, Doopex, Dell, Enthought, Hortonworks, MAANA, MapR Technologies, MarkLogic, Microsoft, MongoDB, Mu Sigma, Predixion Software, and SAS Institute.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing market consolidation. The consolidation in the global big data services market is increasing as many large enterprise computing vendors are acquiring companies to provide new big data technologies. Large vendors are targeting small companies to expand their business portfolios and are acquiring major pure-play big data vendors.”
According to the report, one of the major drivers for this market is growing amount of data. The data volumes are exploding, and more data has been created since 2014 than in the entire previous history. It is estimated that by the year 2020, more than 1.5 megabytes (MB) of new information will be generated every second for every person across the world. Enterprise applications are generating large volumes of data and this will keep continuing throughout the forecast period and beyond. Large volumes of data are being generated from many sources such as the Internet, mobile devices, and social media.
Further, the report states that one of the major factors hindering the growth of this market is adhering to diverse client requirement. Several industries lack policies or frameworks to store all the data, which leads to difficulty in effective performance of big data. This in turn, affects the market penetration of big data service providers as their quality of service deteriorates. Big data service providers need to continuously develop and offer innovative solutions in step with changing customer requirements. This is a complex and cost consuming process as it involves high degrees of uncertainty and failure in understanding the requirements of customers leads to potential loss of time and money.
Accenture, Deloitte, Hewlett-Packard (HP), IBM, PricewaterhouseCoopers (PwC), SAP, Teradata, Alteryx, Atos, Attivio, Chartio, Cirro, ClearStory Data, Cloudera, Continuum Analytics, Datameer, DataStax, Doopex, Dell, Enthought, Hortonworks, MAANA, MapR Technologies, MarkLogic, Microsoft, MongoDB, Mu Sigma, Predixion Software, and SAS Institute.
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