Any conversation about the Big Data marketplace would be unfinished without mentioning the precious data in terms of the useful market. The service market of the big data industry is predicted to rise from an astounding USD 2,613.68 million in 2017 to USD 15,921 .68 million by the year 2024 calculated at a compounded annual rate of development.
There are several concerns that are augmenting the development of the industry especially when it offers unified solutions, increasing popularity of data sciences, expanding volume of heterogeneous data and virtual decrease of implementation cost has enhanced the actual need for big data. The international market for big data may face multiple challenges in the future owing to its own set of complications arising out of platforms like compound data consolidation, privacy threats, and the overall shortfalls associated with the big data industry.
The big data industry has a uniform distribution which is displayed in terms of the industries it caters to. Some of the industries are
The basic statistical distribution of the big data market in terms of market capitalization is:
To conclude, one can say that Big Data is the future that will revolutionize enterprise development and help them achieve the next level. Today, Big Data is helping businesses make key decisions that will result in ROI transformation. Along with IoT and Blockchain, Big Data will transform enterprises of different ecosystems of digital transformation along with blockchain and IoT. The distributed ledger will play a pivotal role in transforming the face of modern businesses. Considering the power of blockchain, the next generation of enterprises will beeline for blockchain adoption.