Market Research Report
Big Data Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||930527|
|Published||Content info||109 Pages
Delivery time: 2-3 business days
|Big Data Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: March 12, 2020||Content info: 109 Pages||
The global big data software market grew a CAGR of 27% during the historical period of 2014-2019. Big data software refers to a type of software that is used to collect, host, and analytically process the dynamic and disparate volume of data created by people, tools, or machines. It focuses on providing efficient analytics for extremely large datasets that assist the organization in gaining deep insight by converting the data into high-quality information, pertaining to the business situation. Furthermore, the software also helps in discovering hidden patterns, unknown correlation, market trends, consumer preferences, and other useful information from a wide variety of data sets.
Over the years, there has been a rise in the demand for big data software owing to the significant amount of data being generated by sensors from the Internet of Things (IoT). Moreover, the growth of artificial intelligence/machine learning (ML) as an innovative technology within data management and analytics software, coupled with the rapid digitalization across emerging nations, is bolstering the market demand globally. Furthermore, the increasing significance of data in modern enterprises backed by the rising investments in technology, resulting in deep assessments of current business practices will continue to stimulate the market growth in the upcoming times. Looking forward, IMARC Group expects the market to continue its double-digit growth rate during the next five years.
The competitive landscape of the industry has also been examined with some of the key players being AWS, Cloudera, Hortonworks, IBM, Informatica, Microsoft, Oracle, Palantir, SAP, SAS, and Splunk.