Rapid growth of the Big Data market is being driven in part by a need and willingness among enterprises to constantly update and improve their processes to boost performance and efficiency, according to an article at CloudTimes.org.
“Also the other forces are continuous rise of unstructured data; demand to provide advanced & predictive analytics,” said the article which based its analysis on a recent study conducted by MarketsandMarkets. “Companies providing hardware and software IT solutions are looking forward to gain a better competitive advantage in this growing market, thereby creating sophisticated analytical solutions and data management platforms for the enterprises.”
The strong trend in the manufacturing market toward lean principals is spreading across industries and this too will have significant impact on big data markets. As organizations in nearly every vertical try do more with less, boosting efficiency and reducing waste, optimization will take place at nearly every level of an operation.
In order to effectively manage the data involved in this optimization, organizations will increasingly turn to powerful solutions like Microsoft Dynamics AX that have the analytic power and user friendly interface to bring new visibility into operations.
The big data market is expected to grow to $46.34 billion by 2018, according to the MarketsandMarkets research.
“In terms of Regions, North America is expected to be the biggest market on the basis of revenue and adoption of big data technology and solutions,” the report said. “MarketsandMarkets further expects that the increasing big data market in the developing economies will further enhance the growth of overall market.”
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