|By Business Wire||
|June 23, 2014 02:32 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/wl52bk/global_sme_big) has announced the addition of the "Global SME Big Data Market 2014-2018" report to their offering.
The Global SME Big Data market will grow at a CAGR of 42.94 percent over the period 2013-2018.
Big data solutions include a wide range of hardware, software, and services required for processing and analyzing structured and unstructured data that is too big for traditional data processing tools to manage. These data are generated by various sources such as mobile devices, digital repositories, and enterprise applications and range in size from terabytes (10^12 bytes) to petabytes (10^15 bytes) and even exabytes (10^18 bytes). Due to the considerably large size of big data, it is difficult for SMEs to manage and analyze the data using existing traditional data processing tools. Big data solutions are being used for a wide range of applications such as conversation analysis in social networking websites, fraud management in the BFSI sector, and disease diagnosis in the Healthcare sector. Due to the increasing need for big data solutions, the Global SME Big Data market is expected to witness rapid growth during the forecast period.
Many large enterprise computing vendors frequently acquire companies to equip themselves with the latest big data technologies. Large enterprise software vendors also target pure-play big data vendors and small companies whose major customers are SMEs to expand their customer base and tap the huge potential in the SME segment. IBM acquired many analytics companies such as DemandTec Inc., Varicent Software, Tealeaf Technology Inc., Kenexa Corp., and Vivisimo Inc. in 2012. In 2013, it acquired several more big data analytic companies such as StoredIQ Inc., Star Analytics Inc., and The Now Factory.
In 2011, Hewlett-Packard acquired the major pure-play vendor Vertica for US$350 million and EMC acquired Greenplum Inc.
Also, Aster Data Systems Inc. was acquired by Teradata Corp. in 2011, Oracle Corp. acquired Datanomic Ltd., Endeca Technologies Inc., ClearTrail Technologies Pvt Ltd., and DataRaker Inc. Through acquisitions, large enterprise computing vendors are trying to enhance their capabilities to deliver a comprehensive big data solution.
According to the report, the need to improve business process efficiency and productivity is one of the factors driving the growth of the Global SME Big Data market. Big data solutions improve the efficiency of business processes and provide up-to-date information, and shorten the decision making process.
Further, the report states that one of the major challenges is the lack of awareness about the capability of big data technology. SMEs are often ignorant of the benefits of big data solutions and do not invest in them.
- Hewlett-Packard Co.
- IBM Corp.
- Oracle Corp.
- Teradata Corp.
Other Prominent Vendors
- Amazon Web Services, Inc.
- Cloudera, Inc.
- Couchbase Inc.
- EMC Corp.
- Google Inc.
- Microsoft Corp.
- SAP AG
- Splunk Inc.
For more information visit http://www.researchandmarkets.com/research/wl52bk/global_sme_big
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