Dublin, Oct. 18, 2013 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/xz3zpz/global_big_data) has announced the addition of the "Global Big Data Market in the Financial Services Sector 2012-2016" report to their offering.
The analysts forecast the Global Big Data market in the Financial Services Sector to grow at a CAGR of 56.69 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need to meet financial regulations. The market has also been witnessing the emergence of social media. However, the lack of skilled resources to manage big data could pose a challenge to the growth of this market.
The key vendors dominating this space include Hewlett-Packard Co., IBM Corp., Microsoft Corp., and Oracle Corp.
The other vendors mentioned in this report are Cloudera Inc., DataStax Inc., EMC Corp., and MapR Technologies Inc.
Commenting on the report, an analyst from the Enterprise Computing team said: Social media has become a major data source for many organizations. This is because of its ability to provide instant feedback about the businesses through blogs and social networking sites. With the rise of social media, there is also a high demand to track user interactions on these sites. Organizations have realized the need to augment their data warehouses with external data sources. Additionally, the increasing importance of sentiment analysis and advancements in text analytics are encouraging organizations to include social media in their business process. Organizations can establish themselves against competition only if they understand and approach their customers in the most informed manner and on a platform they prefer. Big data is proving to be a catalyst of such differentiation strategy of enterprises. Therefore, this is a positive trend in the market and is expected to drive the growth of the Global Big Data market in the Financial Services sector in the coming years.
For more information visit http://www.researchandmarkets.com/research/xz3zpz/global_big_data
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Source:Research and Markets