The exponential growth in the number of connected and smart devices across different organizations, verticals and organizations day to day activities has resulted in the high volume of structured and unstructured data generation. Which has ultimately fostered the adoption of efficient big data solutions and services. As Big Data technologies and solutions offers users’ actionable insights which are critical for their businesses, it has experienced a good adoption rate in almost every industry verticals.
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Big data solution and services providers offer a great deal to end users in gaining insights which help companies into better decision making and formulating effective business strategies. It also helps companies in determining areas for cost and time reduction, causes of failure, highlighting defects in a real time basis. Big data is highly impacting the way organizations use to work, it is arming organizations with critical data useful for their businesses and improving operational efficiency. It also helps companies to gain competitive advantage while creating new sources for revenue.
Increasing numbers of connected devices and growth in data volume from various devices and sources are some of the factors that are driving the adoption of Big Data solutions and Services. Low awareness of the usage of Big Data analytics and high presence of legacy architecture are few of the factors that will hinder the growth of Big Data solutions and services market, however high growth in demands of on cloud Big Data solutions and services are expected to provide high growth opportunities for various Big Data solutions and service providers.
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The Big Data market is segmented on the basis of component into solution and services. Further, on the basis of deployment model the global Big...