The global high performance data analytics market was valued at $24.8 billion in 2016 and is forecast to grow at a robust CAGR of 18.2% between 2017 and 2024, culminating to global revenue of $4.5 billion by 2024.
Industry at a Glance
Rapid growth of data coupled with the elevating need to investigate and make sense of the ever-growing data is a major factor driving the global High Performance Data Analytics (HPDA) market growth over the forecast period. The growing awareness pertaining to the high performance data analytics across varied industry verticals including banking, government, defense, manufacturing, and media & entertainment is driving the adoption of these technologies.
The use of open source frameworks such as Hadoop for big data analytics and high performance computing (HPC) systems are some of the key factors fuelling market growth significantly over the next few years. The use of advanced software for analyzing the structured and unstructured data sets across diverse industry verticals is gaining significant traction from different enterprises including the small scale and large scale corporations.
As data analytics become more operation critical, software and hardware need to progress in order to handle both past and real-time streaming data. This joint ability to manage diverse types of data is vital for a wide range of organizations. Further, the ability to consume data at high rates and provide analytics in real-time to produce competitive advantage is also anticipated to drive the HPDA technology.
“Optimal Price Point (OPP) for HPDA”
Estimated average HPDA cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
With more and more companies entering the HPDA space, the already established players in the market strive to offer low-cost solutions in an attempt to sustain and prevail in the market. High installation cost is a major factor hindering market growth. However, companies are emphasizing on the development of cost-effective solutions to penetrate primarily in the untapped regions.
By type, the market has been segmented into structured, semi-structured, and unstructured data. Companies are investing heavily in R&D activities to establish innovative approaches so as to give users the ability to simultaneously ingest and search locally stored data which can be either static or streaming and can be structured or unstructured.
Deployment Model Outlook
Based on deployment, the market is categorized into on-premise and cloud. The on-premise model is widely accepted as it provides a higher level of security and confidentiality to the users. However, with the growing technological advancements, cost advantages, and improved security features, the adoption of cloud systems is expected to increase over the next few years. The rapid growth of cloud computing to transform the old generation systems is one of the key factors bolstering the market growth.
Based on end-use, the market is categorized into BFSI, Government, IT & Telecom, Medical, retail, media & entertainment, and manufacturing. The BFSI segment emerged as the largest revenue generator and is anticipated to extend its lead over the forecast period. The BFSI sector generates a large volume of data each day and it is imperative for the enterprises to analyze this huge data to find new trends, security lapses, and find new avenues of growth and drive the market expansion.
Based on region, the market is classified into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the market in 2015 and is anticipated to extend its lead over the forecast period. The high investment rate, the presence of active collaboration among different enterprises, growing applications of HPDA in areas such as healthcare, academic research, media and entertainment are amongst few factors driving the regional market growth.
Asia Pacific, on the other hand, is anticipated to witness robust growth over the next few years. The rising economic development in the Asia Pacific region is expected to open new centers of growth. The growing adoption of HPDA for bringing out solutions for various scientific and social issues is gaining prominence. Furthermore, the adoption of HPDA by different business enterprises to bring out innovative products, services, and gather unique consumer insights is anticipated to boost the regional market growth significantly over the forecast period.
Growth Drivers & Restraints
Prominent growth drivers residing in the global high performance data analytics market include growth in number of IT & database industry, elevating adoption across varied industry verticals, and propagation for open source platforms for data analytics. However, high installation cost paired with stringent government regulations is expected to hinder market growth over the forecast period.
Merger & Acquisition Outlook
Companies nowadays focus a lot on mergers and acquisitions for business benefits and new product addition. With growing competition, organizations are increasingly merging among each other to cut down competition and penetrate into untapped regions.
Top Players & Company Share
Leading industry players include Cisco Systems & SAP SE, Hewlett-Packard Enterprise, Cray Inc., Dell Inc., Juniper Networks, IBM Corporation, Microsoft Corporation, Intel Corporation, Oracle Corporation, Red Hat Inc., and Teradata & SAS Institute.
High Performance Data Analytics Market, by Type (Revenue, USD Billion)
High Performance Data Analytics Market, by Deployment (Revenue, USD Billion)
High Performance Data Analytics Market, by End-Use (Revenue, USD Billion)
- IT & Telecom
- Media & Entertainment
High Performance Data Analytics Market, by Region (Revenue, USD Billion)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia