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The big data infrastructure market size is forecast to increase by USD 1.11 billion and is estimated to grow at a CAGR of 5.89% between 2022 and 2027. The growth of the market depends on several factors, including increasing data generation, increasing demand for data-driven decision-making across organizations, and rapid expansion in the deployment of big data infrastructure by SMEs. The market is referred to as the systems and technologies used to collect, process, analyze, and store large amounts of data. Big data infrastructure is important because it helps organizations capture and use insights from large datasets that would otherwise be inaccessible.
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In the dynamic landscape of big data infrastructure, cluster design, and concurrent processing are pivotal for handling vast amounts of data created daily. Organizations rely on technology roadmaps to navigate through the evolving landscape, leveraging data processing engines and cloud-native technologies. Specialized tools and user-friendly interfaces enhance accessibility and efficiency, while integrated analytics and business intelligence solutions unlock valuable insights. The market landscape depends on the Organization Size, Data creation, and Technology roadmap. Emerging technologies like quantum computing and blockchain are driving innovation, while augmented reality and virtual reality offer immersive experiences. However, assumptions and fragmented data landscapes can lead to bottlenecks, performance degradation, and operational inefficiencies, highlighting the need for robust infrastructure solutions to overcome these challenges and ensure seamless data management and processing.
The market share growth by the storage segment will be significant during the forecast period. The growth of the market for big data storage is also due to the emergence of a new trend known as object storage. Big data storage requires a large capacity for handling data. Data is regarded as an object in this new trend, which blocks and stores it within sectors. This, thus, is supposed to drive the development of the stockpiling portion of the worldwide enormous information foundation market during the figure time frame.
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The storage segment showed a gradual increase in the market share of USD 999.57 million in 2017 and continued to grow by 2021. The capacity portion held the biggest offer in the worldwide enormous information foundation market in 2022 because of its capacity to store a lot of unstructured information. Capacity is essentially an instrument that is utilized to safeguard and store information either forever or briefly. The capacity of information should be possible on an advanced gadget, similar to a glimmer memory card, hard drive, PC server, and computerized flexible circle read-just memory (DVD-ROM). There is a high development in the capacity portion because of the developing interest in high-limit drives in different sectors, like government organizations and IT sector. Hence, such factors are fuelling the growth of this segment during the forecast period.
In the BFSI sector, big data infrastructure has been selected to make respective models of trading, fund management, and risk control. Due to the raised big data in terms of volume, variety, and complexity, big data analysis is useful for banks to generate useful awareness to improve performance. In financial service organizations, digital transformation has created a need to evaluate the implementation of technology and customer response to make financial services operations smooth. Financial firms are showing huge data growth with the increase in financial transaction volumes. Search engine optimization and digital marketing advancements practices have changed the way consumers look at products and services.
Moreover, organizations in banking, insurance, and other financial services are using big data tools. Cognitive technology is used to analyze customer responses and feedback related to financial services. All main banks have comprehensive mobile, attractive savings accounts, banking offerings, and innovative products. , they need to bring attractive offers to win customers and differentiate themselves from the other banks. Hence, banks use big data analytics to compute their internal processes and customer experiences, which will boost the market during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the market in this region is rising owing to the digital transformation initiatives undertaken by enterprises such as healthcare, BFSI, retail, and others. For instance, Petroleos Mexicanos (Pemex), a state-owned Mexican company, announced that it is planning to add several big data and advanced analytics, IoT, and mobility projects that will be the key elements of its digital transformation objective.
In addition, owing to the need to reduce operating expenses and rising production efficiency across sectors, the market is growing significantly in this region. Hence, enterprises in North America are among the first in the globe to adopt data-driven business models and use advanced technologies such as AI, ML, and IoT, to optimize their operations and rising production capacities. This is expected to drive the adoption of big data infrastructure solutions among companies in the region during the forecast period.
The Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accenture Plc: The company offers big data infrastructure, such as Data and analytics services and solutions, which can help any organization grow and differentiate itself against the competition.
Alphabet Inc. The company offers big data infrastructure under the brand name Google Cloud.
Cisco Systems Inc.:The company offers Cisco big data and analytics solutions which uniquely integrate server, network, and storage resources.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
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In today's digital age, big data infrastructure is a critical component for organizations across various sectors, including transportation, education, and research. Large enterprises rely on scalable infrastructure and innovative technologies like Apache Hadoop and Dataguise to manage vast amounts of data effectively. Hybrid deployment models, such as on-premises and cloud-native solutions, offer flexibility and scalability to meet diverse business needs. Strategic decision-making is empowered by real-time processing and machine learning capabilities embedded within data processing workflows. However, challenges like data silos and fragmented landscapes persist, emphasizing the importance of integration and interoperability for achieving a unified view of data. Cutting-edge technologies like quantum computing and blockchain hold promise for revolutionizing data analytics, particularly in fields like precision medicine and genomic analytics. As organizations navigate through the digital revolution, big data solutions play a pivotal role in unlocking insights from untapped data sources, including social media data, while addressing scalability and performance challenges to ensure operational efficiency.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.89% |
Market growth 2023-2027 |
USD 1.10 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.15 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 43% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accenture Plc, Alphabet Inc., Amazon.com Inc., Ataccama Corp., Cisco Systems Inc., Cogito Tech LLC, Datameer Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Hitachi Ltd., International Business Machines Corp., Microsoft Corp., NetApp Inc., Oracle Corp., Salesforce Inc., SAP SE, SAS Institute Inc., SingleStore Inc., Teradata Corp., and VMware Inc. |
Market dynamics |
Parent market analysis, market growth analysis ,market research and growth market growth and forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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