Big Data Software MarketAccording to Market Research Future Analysis, the global Big Data Software Market is estimated to generate revenue of approximately USD 39 billion by 2023 growing at a CAGR of 13% during the forecast period 2017-2023.
Big data software’s are enterprise-class information technology platforms, providing features and functionalities for developing, deploying, operating and managing big data by patterns recognition, correlations, trends discovery, and other from huge datasets.
The global big data software market is anticipated to grow at a CAGR of 13 % during the review period of 2017 to 2023.Market ScenarioGrowing Big Data And Potential Applications Expanse Is Driving A Large MarketThe worldwide digital healthcare data reached a quantum figure of around 500 petabytes in 2012 alone and which is anticipated to reach 25,000 petabytes by 2020.The applications of big data include differentiating pricing strategies and price optimization, search engine optimization (SEO), advanced forecasting of patterns, better sample selection and others.
The business opportunities include quantification of the link between actions and revenues, higher market penetration, better customer targeting and engagement, economies of personalized medicine, real-time data for feedback and brand equity, corrective actions for customer switching, greater product differentiation, not to mention better customer satisfaction.Growth In Capacity And Capabilities In Technology Are Driving Greater AdoptionAdvances in database management and technology such as relational and parallel database architecture, development of data specific languages such as python, R and others are driving faster adoption as big data software’s are now capable of handling large and complex data sets.
Development of big data platform that blends traditional technologies suited for structured data, with new technologies designed to manage unstructured data address speed, flexibility, advanced analytics, ideal for data exploration, discovery, and unstructured analysis.
The increase in adoption of smart devices and the shift to digital technologies are significant drivers of market growth.Technology giants such as IBM (U.S.), Oracle (U.S.), Microsoft (U.S.), HPE (U.S.), SAP (Germany), Amazon Web Services (US), SAS Institute (U.S.), Dell Technologies (U.S.).