Dubai: SNS Telecom & IT’s latest research report indicates that global spending on Big Data technology is expected to surpass $65 billion by the end of 2018.
Originally used as a term to describe datasets whose size is beyond the ability of traditional databases, the scope of Big Data has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.
Amid the proliferation of real-time data from sources such as mobile devices, web, social media, sensors, log files and transactional applications, Big Data has found a host of vertical market applications, ranging from fraud detection to scientific R&D.
Despite challenges relating to privacy concerns and organizational resistance, Big Data investments continue to gain momentum throughout the globe. SNS Telecom & IT estimates that Big Data investments will account for over $65 Billion in 2018 alone. These investments are further expected to grow at a CAGR of approximately 14% over the next three years.
The “Big Data Market: 2018 – 2030 – Opportunities, Challenges, Strategies, Industry Verticals & Forecasts” report presents an in-depth assessment of the Big Data ecosystem including key market drivers, challenges, investment potential, vertical market opportunities and use cases, future roadmap, value chain, case studies on Big Data analytics, vendor profiles, market share and strategies. The report also presents market size forecasts for Big Data hardware, software and professional services from 2018 till 2030. The forecasts are segmented for 8 horizontal submarkets, 14 vertical markets, 6 regions and 35 countries.
The report will be of value to current and future potential investors into the Big Data sector, as well as Big Data hardware/software/professional services providers, analytic platform vendors, vertical enterprises and other ecosystem players who wish to broaden their knowledge of the ecosystem.