Leading players are currently focusing on providing cost competitive and customized solutions to the customers.
Albany, NY -- (SBWIRE) -- 01/03/2018 -- The global marine big data market is projected to grow at a staggering CAGR of over 21% during the forecast period 2017-2025, and reach a valuation of over US$ 3.2 Bn by the end of forecast period. A recent report added to the comprehensive repository of Market Research Hub (MRH) offers information and insights on the future direction of the marine big data market during the assessment period. The report is titled "Marine Big Data Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025", and is a valuable source of information for stakeholders looking to understand the nuances of this highly complex marketplace.
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The vast amount of data collected by ships, satellites, and aerial remote sensing systems has necessitated the use of effective collection and management of data. As is the case in the global IT market, the use of Big Data techniques and methodology is also gaining traction in the marine sector, especially for gathering information about spatial and specific temporal information. As use of Big Data in marine has proven to be extremely effective, it is highly likely that more players will follow suit, and the market will grow at a robust pace during the assessment period.
To offer readers qualitative and quantitative insights, the report offers segmentation on the basis of component – software and service. The key application segments of global marine big data market include offshore construction, oil & gas, renewable energy, dredging, harbor, and fishery. The report has also segmented the market on the basis of data source into environmental, geological data, oceanographic, and others. The report also offers information on the global market in key regions including North America, Asia Pacific, Latin America, Middle East & Africa, and Europe.
According to the report, adoption of Big Data is quite formidable in the oil & gas sector, and the trend is likely to continue during the assessment period. The oil and gas sector is going through a challenging time, owing to steep decline in oil prices. This is likely to have an impact on spending by key players, however, considering the effectiveness of adopting Big Data services, it is highly likely that more players will join the fray during the assessment period. Among software and services, demand for services is likely to remain higher, and the trend is expected to be dominant during the assessment period.
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Asia Pacific continues to be the largest market for marine Big Data market globally, owing to the high concentration of oil & gas companies in the region. In addition to being the largest market, Asia Pacific is also anticipated to be the fastest growing market globally. The leading companies profiled in the report include Teradata, Splunk, Inc., Oceanwise, Avenca Limited, BMT Group Ltd., Intertrust Technologies Corporation, MarineFIND, AIMS-Sinay, BigOceanData, Datameer Inc. Databricks Inc., Ocean Networks Canada, Nautical Control Solutions, LP, Smart Ocean and Open Ocean
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