Global big data enabled market expected to reach over $210 billion by 2019, says Technavio

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This research reports outlines the market forecast for big data enabled services until 2019. The market research study presents an analysis of the key application areas for big data that include smart manufacturing, telehealth, mobile LBS, financial risk analysis, and smart oilfields. Market shares for APAC, Americas, and EMEA regions are also included in this research report. The top companies analyzed by this report are IBM, HP, Dell, and SAP.

Technavio’s market research analysts estimate the global big data enabled market to grow at a CAGR of around 23% between 2015 and 2019. Much of this market’s growth comes from the increasing data volume across all sectors and the rising need to improve business productivity and efficiency. The Americas is the key leading region in the global big data enabled market, accounting for around 60% of the total market share. Increasing demand for big data across several verticals including retail, healthcare, media and entertainment, oil and gas, and government is propelling the market’s growth in this region.

The new market research report from Technavio provides a breakdown and analysis of the big data services segments by end-users.

“Social media has emerged as a major data source for various organizatons. Organizations gain a competitive edge by comprehending their customers on these social media platforms. Through socia media sites and blogs, the organizations are able to get instant feedback about their products and services. To track these user interactions on the social sites, the enterprises are increasingly using sentiment analysis and advancements in text analytics,” says Navin Rajendra, Lead Analyst, ICT, Technavio Research.

The smart manufacturing segment dominates the global big data enabled market, occupying around 55% of the overall market revenue. Smart manufacturing requires big data services to provide real-time understanding, planning, and management of a manufacturing enterprise through the help of data analytics, real-time simulation, and modeling. The segment is expectde to generate reveunu worth $120 billion over the next four years, thanks to incraese in manufacturing activities across the world.

The leading vendors in the global big data enabled market include IBM, HP, Dell, and SAP. The market is highly fragmented with the presence of several international players. The key vendors dominate nearly one-third of the global market. The competition in the market is expected to intensify as several players are entering this market. Players in the market are constantly looking for ways to increase their market share through partnerships and M&A.

A more detailed analysis is available in the Technavio report, Global Big Data Enabled Market 2015-2019.

We can customize reports by other regions and specific segments upon request.

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