The global big data services market to grow at a CAGR of 24.20% during the period 2017-2021.
This report, Global Big Data Services Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is increasing market consolidation. The consolidation in the global big data services market is increasing as many large enterprise computing vendors are acquiring companies to provide new big data technologies. Large vendors are targeting small companies to expand their business portfolios and are acquiring major pure-play big data vendors.
According to the report, one of the major drivers for this market is growing amount of data. The data volumes are exploding, and more data has been created since 2014 than in the entire previous history. It is estimated that by the year 2020, more than 1.5 megabytes (MB) of new information will be generated every second for every person across the world. Enterprise applications are generating large volumes of data and this will keep continuing throughout the forecast period and beyond. Large volumes of data are being generated from many sources such as the Internet, mobile devices, and social media.