Big Data Applications in Healthcare Likely to Propel Market to US$48.3 Bn by 2018 : TMR

Albany, NY -- (ReleaseWire) -- 05/28/2015 -- Transparency Market Research announces the release of a new report titled "Big Data Market - Global Scenario, Trends, Industry Analysis, Size, Share And Forecast 2012 - 2018". The report states that registering a remarkable CAGR of 40.5% from 2012 to 2018, the global big data market is likely to grow from US$6.3 billion in 2012 to US$48.3 billion in 2018.The research report studies the global big data market by segmenting it on the basis of four criteria: product requirement, component, application, and geography. By component, the big data market is categorized into hardware, software and services, and storage. Owing to the growing demand for new big data services and functionality, the segment of software and services has dominated the overall market, accounting for nearly 50% of the global big data market in 2012. The storage segment is likely to grow at the fastest pace from 2012 to 2018, registering an astounding CAGR of 45.3%. Given the massive amount of and the rapid pace at which data is being generated, storage is most likely to become a major issue in the years to come.