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Telecom and IT Market Research Reports, Analysis, Consulting

Big Data Market Outlook - Global Trends, Forecast, and Opportunity Assessment (2014-2022)

The big data market is seeing a rapid growth due to the enormous increase in organizational data. Companies have stationed the big data solutions to examine and manage the data generated to help in the quick decision-making process. Besides, the increase in a number of mobile devices and apps, and the companies moved from analog to digital technologies are few of the points driving this market.

Big data can be characterized by 3Vs: the extreme volume of data, the vast variety of types of data and the speed at which the data must be must process. Although big data doesn't mention to any specific quantity, the term is mostly used when talking about pet bytes and Exabyte’s of data, much of which cannot be integrated easily. The Global Big Data market Outlook is projected to reach $118.52 billion by 2022 growing at a CAGR of 26.0% during the forecast period 2014 to 2022.

In today's enterprising business environment, analytics can become very complex; summing data from multiple projects and applications of different formats into a single set for analysis is a tangled challenge. This is the reason why single analytics platforms that are implant within core operational systems are growing in popularity; they make it sure, key data are integrated, not stored in silos where their perceptions are lost.

Quick growth in consumer data, superior information security, magnified business efficiencies are some of the key factors powering the market growth. Anyways, absence of skilled workers is hindering the growth of big data market. Stipulation of data depository and advanced analytics among applications of big data creates lot of chance for the vendors in this market.

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