Market Highlights

The generation of complex and large data sets is predicted to increase the impetus in the big data software market share. The I.T. security reports are made by Market Research Future, which includes market options for progress. A 16.70% CAGR is predicted to bolster the market income to USD 667.4 billion by 2030.

The global big data software market is projected to witness rapid growth during the forecast period. High growth opportunities in emerging economies and high adoption of analytics software are the major factors driving the growth of this market. Moreover, increasing demand for big data software across various industry verticals such as media & entertainment, IT & telecommunication, retail, e-commerce, etc. is also fueling the growth of the global market.

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Market Scenario

Growing Big Data And Potential Applications Expanse Is Driving A Large Market

The worldwide digital healthcare data reached a quantum figure of around 500 petabytes in 2012 alone and which is anticipated to reach 25,000 petabytes by 2020.

The applications of big data include differentiating pricing strategies and price optimization, search engine optimization (SEO), advanced forecasting of patterns, better sample selection and others. The business opportunities include quantification of the link between actions and revenues, higher market penetration, better customer targeting and engagement, economies of personalized medicine, real-time data for feedback and brand equity, corrective actions for customer switching, greater product differentiation, not to mention better customer satisfaction.

Growth In Capacity And Capabilities In Technology Are Driving Greater Adoption

Advances in database management and technology such as relational and parallel database architecture, development of data specific languages such as python, R and others are driving faster adoption as big data software’s are now capable of handling large and complex data sets. Development of big data platform that blends traditional technologies suited for structured data, with new technologies designed to manage unstructured data address speed, flexibility, advanced analytics, ideal for data exploration, discovery, and unstructured analysis. The increase in adoption of smart devices and the shift to digital technologies are significant drivers of market growth.

High Installation And Maintenance Cost Coupled With Nascent Stage Of Technology Is Hampering The Market

High installation and maintenance cost coupled with the nascent stage of technology is the prime deterrent of the market. Other market barriers are legal restrictions, data security, privacy concerns, problems with data collection and processing, integration of multi-point and multi-sectorial cross-channel data, and others.

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Prominent Players

Some of the significant players in the global big data software market IBM (U.S.), Oracle (U.S.), Microsoft (U.S.), HPE (U.S.), SAP (Germany), Amazon Web Services (US), SAS Institute (U.S.), Dell Technologies (U.S.), Teradata (US), Splunk (U.S.), Palantir Technologies (U.S.), Cloudera (U.S.), Hitachi (Japan), Guavus (U.S.), 10data (U.S.) and others.

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