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Global Big Data Market – Size, Share, Forecast, Segments, Opportunity, Report 2012 – 2018
Date:7/10/2013

Albany, New York (PRWEB) July 10, 2013

According to a new market report published by Transparency Market Research “Big Data Market – Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2012 – 2018? the global big data market was worth USD 6.3 billion in 2012 and is expected to reach USD 48.3 billion by 2018, at a CAGR of 40.5% from 2012 to 2018. North America is expected to maintain its lead position in terms of revenues till 2018, with about 54.5% share of the global big data market revenue, followed by Europe.

Related Report : Smartphone Security Market
http://www.transparencymarketresearch.com/smartphone-security-market.html

Generation of huge amounts of data, called big data, across different sectors such as banking, healthcare, retail and education, among others, is creating the need for an efficient tool to manage this data. Conventional database management tools such as Relational Database Management System (RDBMS) do not have the capability to manage surging volumes of unstructured data. This has led to the development of various tools and technologies to manage big data.

The basic components of big data include software and services, hardware, and storage. Software and services segment held the largest share, accounting for more than 50% of the total big data market in 2012. The storage segment is expected to be the fastest growing segment at a CAGR of 45.3% from 2012 to 2018. This can be attributed to the exponential increase in the amount of data across different sectors. The financial services sector is one of the major contributors to the big data market, and held nearly 20% of the market in 2012.

Big data tools are emerging to be of great help to banks and financial institutes in utilizing the depth of data collected. The media and entertainme
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