Global Big Data Market by 2018
Global Big Data Market is expected to reach $48.3B by 2018; North America is expected to maintain its lead position in terms of revenues till 2018, with about 54.5% share, followed by Europe, but Asia-Pacific will grow the fastest.
ALBANY, New York, January 21, 2013 /PRNewswire via COMTEX/ -- According to a new market report published by Transparency Market Research , "Big Data Market - Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2012 - 2018" the global big data market was worth USD 6.3 billion in 2012 and is expected to reach USD 48.3 billion by 2018, at a CAGR of 40.5% from 2012 to 2018. North America is expected to maintain its lead position in terms of revenues till 2018, with about 54.5% share of the global big data market revenue, followed by Europe.
The report includes segmentation of the big data market by components, by applications and by geography. The different components included are software and services, hardware and storage.
Software and services segment dominates the components market whereas storage segment will be the fastest growing segment for the next 5 years owing to the perpetual growth in the data generated.
The report covers eight areas
- financial services,
- retail and media
- and others.
Financial Services, healthcare and the government sector are the top three contributors of the big data market and together held more than 55% of the big data market in 2012. Media and Entertainment and the healthcare sectors will grow at high CAGR of nearly 42% from 2012 to 2018. The growth in data in the form of video, images, and games is driving the media and entertainment segment.
The multiple and varied stakeholders including the medical and pharmaceutical product industries, providers and patients, all generate pools of data. A major portion of the clinical data is not yet digitized and so big data tools are helping these stakeholders to use the pool of data effectively.
The major four geographies covered are North America, Europe, Asia Pacific and RoW. North America is the largest market and held nearly 55% of the total big data market in 2012. This region will continue to dominate the big data market in future but Asia Pacific region will prove to be the fastest growing market and will grow at a CAGR of 42.6% from 2012 to 2018. The shortage of talented personnel to analyze the big data will limit the growth of this market in North America.
The report is available for purchase at www.transparencymarketresearch.com/big-data-market.html