What are the Latest Trends in Big Data Technology Market?
The rapid adoption of digitalization is likely to propel growth in the global big data technology market. According to a study by Fortune Business Insights, titled “Big Data Technology Market Size, Share and Global Trend by Component (Hardware, Storage, Software and Services), Product (DBMS, Hadoop, SQL), Industry Vertical and Geography Forecast till 2025” North America offers lucrative growth opportunities. North America held a significant share in the global market in 2017. The growth witnessed is attributable to the high adoption of digitalization in nations such as Canada and U.S. The U.S. is witnessing the implementation of big data technology across its major industries, this is expected to enable growth in the global big data market. The International Data Corporation has reported that the U.S. is making huge investments in big data technology. This will help the North America market to gain a higher share in the global big data market.
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Analysis by Top Key Players:
- Red Hat
- Dell Technologies
The big data market in Asia Pacific is anticipated to grow at a relatively higher CAGR. China and Japan are currently witnessing rising investments in big data technology from governments and key market players. This has enabled China and Japan to hold a strong position in the Asia Pacific big data technology market. For instance, In China, the Chinese government implemented big data technology across the nation in 2017. This is expected to propel growth in the global big data market.
“Key market players expected to emphasize the integration of internet of things and Artificial Intelligence in big data. This is anticipated to fuel the demand in the global big data market,” said a lead analyst at Fortune Business Insights.
“Rapid Adoption of Smart Phones to Fuel Demand”
Some of the factors expected to drive the global big data market during the forecast period 2018-2025 are an increasing number of e-commerce companies and the rapid adoption of smart devices such as phones, TV, and others. Additionally, increasing investments in robotic automation are anticipated to increase the growth rate in the global big data technology market.
Lower data storage costs and expansion of Blockchain technology are a few factors anticipated to fuel the demand for big data services and solutions.
Besides this, as per the Technology.org, the global infrastructure-as-a-service market is anticipated to expand at a CAGR of 29% and reach US$ 56.5 Bn by the end of 2020. The global infrastructure as-a-service market is playing a significant role in the growth of the global big data market. The global infrastructure as-a-service market is generating high demand for big data technology and is further expected to enable growth in the global big data market.
On the flip side, high cost associated with big data technology and lack of skilled professional is a few factors that may restrain the global big data market during the forecast period 2018-2025.
“IBM Acquired Red Hat to Strengthen its Market Position”
The competition among the global big data market players is very high. Key players are focusing on partnering and acquiring other companies to gain a higher share in the global big data market. For instance, in 2018 IBM Corp. acquired Red Hat Inc. to strengthen IBM’s market position and leverage social media data for analysis. Some of the companies operating in the global big data market are Google LLC, Microsoft Corporation, Cisco Systems Inc., Apple Inc., Red Hat Inc., SAS Institute, Oracle Corporation, Amazon Inc., Facebook Inc., Dell Technologies, Siemens solution, Hortonworks Inc., and Cloudera Inc.
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