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Increased demand for productivity is driving the global big data market

Press release July 14, 2014 Big data market, big data industry, big data market size

This report covers the present scenario and the growth prospects of the Global SME Big Data market for the period 2014-2018.

The global SME big data market is estimated to grow substantially in the next few years, stimulated by the demand for improving productivity and efficiency levels in various business processes. Owing to the immense growth potential of the segment, this market is expected to grow at a CAGR of 42.94% in the period between 2013 and 2018, as per industry experts.

This report: Global SME Big Data Market 2014-2018 highlights the present market scenario and key market trends of the industry. It also provides a detailed insight on the market outlook, key players and major challenges which threaten the growth of this market.

Key market trends

The big data industry has been flourishing as various computing vendors are acquiring big data firms, in order to possess the upgraded big data technologies, helping shrink the decision-making procedure to a large extent. For instance, in 2013, IBM Corp., acquired large big data analytics organizations including Star Analytics Inc., StoredIQ Inc. and The Now Factory. Recently in 2014, IBM has also launched cloud-based big data service, which would enable companies to supervise, access and secure content on any electronic device. Therefore workers will now be able to make the content appear in mobile devices, desktop, etc. Hewlett-Packard Co., IBM Corp., Oracle Corp., Microsoft Corp., Google Inc. Teradata Corp. and Amazon Web Services are a few of the renowned big data services companies which have been growing noticeably since the last few years.

Market challenges

Despite the thriving market, there are some challenges which have been thwarting the progress of the market. One of the challenges is that very few organizations are aware of the benefits of big data technology, particularly the SMEs or Small and Medium enterprises. As a result, the market receives no investment from such companies. Given that this is a substantial market the Big Data market is now looking to tap into the SME sector, thereby opening up new prospects

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Big data market, big data industry, big data market size