Big Data Market Research Reports, Industry Analysis and Trends
Big data is the collection of all the information available on variety of databases that use the internet; from telecom records, social media posts, medical records, retail transaction to complete financial transactions. Every bit of information is stored using many techniques and tools unlike the traditionally used tools that cannot manage or sustain everyday’s new data that is being input. Approximately 10 Petabytes of new data is generated everyday; with growing employment, internet users and increased demand, the number is estimated to grow in many folds in the future. Industries that generate and maintain large amounts of data are in variety of sectors such as Social Media, Media, Online gaming, Financial Services, E-commerce, Web Analytics, and Information Technology.
Since the internet revolution, the data generated is crucial to industries and consumers for various purposes. The reach and access internet provides, big data’s analysis is becoming more and more critical to understand new emerging trends, derive opportunity and insight, and to make the business more agile with the content that is generated knowingly or unknowingly.
The big bang is digitization, and it has served well for almost all the industries. Until the 2K millennium majority of the content ever produced was on paper, film and other analogue media, and only small fraction was available in various digital formats, but due to the convenient access capability and easier and less-time consuming process, digital storage has expanded rapidly.
There is an immense growth potential with forecasts of gigantic revenues. According to IDC, the market for big data is expected to reach $16.9 billion by 2015; a massive up from $3.2 billion in 2010. All corporate giants require big storage, so their major portions of investments occur in storage infrastructure for an insightful organization of all the data generated. Big data solutions are dynamic and fulfil current and future storage requirements and help in delivering a value that may transform into sales or social media awareness.
Big Data Industry Current Trends
There have been numerous improvements since the technology for digital storage came into existence; from expanding the storage to this rapidly growing information consuming age to the accurate distribution of information through the required channels. Through trillions of connected electronic devices, and billions of transistors and tech-savvy people, the imagination to sense how big the big data becomes difficult. In this era of connectivity, vast and wide variety of information is generated and shared by people and machines and many businesses are looking at how they can benefit and aim to derive value from the analysis of large-scale data.
The numbers of big data companies and categories are growing with the motive to cater to the increasing size and amount of quantitative data, the speed at which it is stored, processed and delivered and lastly, the type in which is stored or processed, such as structured, unstructured and semi-structured data. Amidst all the storing and processing, there is a factor that differentiates competitors. With mountains of data created every day, and the peak of mountain to increase everyday fuelled by the rise in rolling of internet’s accessibility to wider regions, there are new technologies being invented.
As the traditional methods such as on-site storage such as network-attached storage (NAS) and storage area network (SAN), the more agile systems are developed to enhance and offer better solutions. Cloud based architecture is one technology that many businesses are opting to store for quick accesses and durability of data, along with low-cost and large-scale facility cloud computing offers. To give an idea of what kind of big data generally stored and processes is the few statistics mentioned in the following order:
- Facebook hosts approximately 10 billion photos which amount up to 1 petabyte of storage.
- The New York Stock Exchange generates about 1 terabyte of new trade data every day,
- And the Internet Archive stores around 2 petabyte of data and if estimated, the number goes up to 20 terabyte per month.
Major Cloud Industry Players
Major players in big data vendors are IBM, Fuzitsu, Hadapt, Precog, Platfora, Intel, Dell, Seagate, Amazon, HP, and Datameer.