Global data market will increase nearly 7 times times in the next 6 years

Transparency Harsh research (transparency http://www.aliyun.com/zixun/aggregation/10242.html "> Market Study") The latest release of the report Large Data market: 2012-2018 Global situation, development trend, industry analysis, scale, share and forecast show that the global data market value of 6.3 billion U.S. dollars last year, the output is expected to reach $483 billion in 2018, will grow nearly 7 times times.

The combined annual growth rate (CAGR) of the large data market in this period will reach 40.5%. In terms of market share, North America is expected to remain the world leader by 2018, accounting for about 54.5% of the world's largest data market, followed by Europe.

Large data is defined as generating large amounts of data. Many industries, such as banking, healthcare, retailing and education, are now in need of an effective tool to manage such data. Traditional database management tools, such as relational database management systems (RDBMS), are unable to manage soaring volumes of unstructured data, which means that you must develop tools and techniques for managing large data.

The basic elements of large data include software and services, hardware, and storage. The 2012 software and services market has the highest share, accounting for large data market GDP ratio of 50%. The storage market is expected to be the fastest-growing market, with a composite annual growth rate of 45.3% per cent in 2012-2018. This will lead to exponential growth in the volume of data in all sectors. The financial services market is a major contributor to the large data market, which accounted for nearly 20% per cent of the market in 2012.

Large data tools now play a big role for banks and financial institutions in making full use of the data collected. While the media and entertainment industry currently has a small share of the big data market, 2012-2018 is expected to grow at a compound annual growth rate of 41.4%, mainly because games, images and video produce huge amounts of data.

Medical care is another large and important market in the global economy, and achieving greater efficiency in drug failure, drug approval and regulatory barriers has been a challenge. Large data can help manufacturers in the medical market manage data effectively, make important business decisions and develop business development strategies.

(Responsible editor: Schpeppen)