Focus on global large data market size forecasts for the next five years

The world's big data market will usher in a composite growth rate of 26% per cent over the next five years-from $14.87 billion trillion this year to $46.34 billion trillion in 2018. The results come from a recent report by MarketsandMarkets, a research firm.

The report points out that the main impetus for the rapid development of the market comes from the eagerness of many enterprises to upgrade http://www.aliyun.com/zixun/aggregation/13476.html "> Business processes, enhance performance and implement efficiency." Other key factors include the continued growth in the amount of unstructured data and the strong demand for advanced predictive analysis capabilities.

Hardware and software IT solutions vendors want to gain a competitive advantage in this booming emerging market. The report says that creating sophisticated analytics and data management platforms for corporate users will be an important way for suppliers to significantly increase their revenues.

The company also said the continued warming of consulting, integration and deployment Services made the service market a major component of the big Data wave. The software program will continue to maintain a healthy development trend, MarketsandMarkets expects that the composite growth rate of software products up to 2018 will reach 28.7%.

North America is expected to be a major contributor to large data revenues, although emerging economies such as Asia-Pacific, the Middle East, Africa and South America will also face significant annual growth rates. MarketsandMarkets companies expect large data market developments in developing economies to ultimately determine the real direction of global markets.

MarketsandMarkets also explained that the forecast analysis market will expand from $1.7 billion trillion this year to $5.24 billion trillion in 2018--an annual compound growth rate of 25.2%. According to the report, the main impetus for global predictive analysis of market development stems from the rise of large-scale data and the popularization of innovative technologies.

Speaking on the topic of predictive analysis, the report points out that the focus of business enterprises has shifted from traditional business intelligence solutions to predictive analytics because they have become aware of the importance of data analysis and the guiding potential for future development. From business intelligence to predictive analysis of the market for large enterprises and Up-and-comer to bring a broad space for display, but the challenges will inevitably follow. MarketsandMarkets says the lack of awareness of predictive analysis mechanisms and the large amount of time that must be faced have become a major hurdle for companies to implement predictive analysis programs in their business processes.