A report available in Research and Markets revealed the size of the global Big Data market during 2014 – 2025.
The global big data market is expected to reach $123.2 billion by 2025.
Investment in big data solutions enables organizations to manage large data volumes and reduce the cost.
ALSO READ the full report on big data market
Big data solutions support companies to overcome frauds, streamline critical business processes, and reduce errors.
The growing need to manage and monitor the heterogeneous nature of the data generated from web clicks to satellite data is also anticipated to significantly propel the industry growth over the next few years.
Lack of skilled manpower including data analysts and data scientists that are required to leverage big data capabilities is expected to hamper the demand in big data business.
North America region, which houses several large enterprises, is dominating the big data revenue market – accounting for 30 percent in 2015. High penetration across the IT & telecommunication, BFSI, and retail sectors are supporting the big data growth in North America.
Main big data companies are: Cloudera, EMC, IBM, Oracle and Teradata Corporation.